Regulation

JPMorgan Chase, the lender that lost more than $6.2 billion last year from wrong-way bets on credit derivatives, named Cindy Armine as chief compliance officer.

The Consumer Financial Protection Bureau and Federal Trade Commission are weighing new restrictions on how debt collectors may use social media websites like those run by Facebook and Twitter to contact potential debtors.

Some of the nation's biggest lenders said that savings from firing consultants doing foreclosure reviews would largely cancel out the cost of direct compensation to borrowers.

General Electric (GE) has agreed to settle a lawsuit charging it with wrongdoing in the sale of securities backed by residential mortgages.

A lawsuit by the state's Democratic attorney general alleges that the oft-criticized mortgage assignment system deprived Kentucky of recording fees and shrouded property records in secrecy.

Following bankers' positive reaction to the bureau's QM regulation, industry observers are optimistic about the prospects for added flexibility in the QRM rules that will follow.

Flushing Financial in Lake Success, N.Y., is set to convert to a bank.

Political denial and cover-up are in the CFPB's DNA. The agency was predestined to be overbearing, which will only hurt borrowers in the long run.

Clients of the largest U.S. banks withdrew funds this month at the fastest weekly pace since the Sept. 11 attacks as a deposit-insurance program ended and customers tapped into their year-end cash hoards.

Require megabanks to pay their stealth subsidies into a reserve available only to creditors and the FDIC. Market discipline will do the rest, as shareholders demand that the banks shrink.