Regulation

A deal between regulators and 10 major mortgage banks will end a troubled foreclosure review process. However, the latest plan faces troubles of its own.

Every year that passes, politicians, bankers and even some financial regulators forget how illiquidity helped the 2008 financial crisis spread like wildfire.

Michael Corbat is reorganizing Citi's top ranks for the first time since taking over in October, promoting longtime executives Jamie Forese and Manuel Medina-Mora to co-presidents.

The deal clears up a major source of uncertainty at the banking giant and is likely to lead the way for similar settlements between Fannie and other big mortgage originators.

Bank of America (BAC) will pay Fannie Mae $3.6 billion to settle claims in connection with mortgage loans the bank sold to Fannie over a nine-year period starting in January 2000.

Global central bank chiefs gave lenders four more years to meet international liquidity requirements and watered down the measures in a bid to stave off another credit crunch.

Fourteen of the nation's biggest banks are expected to pay a combined $10 billion to settle allegations they mishandled foreclosures that followed the housing crisis.

GOP Sens. Dean Heller and Tom Coburn have been appointed to the Senate Banking Committee in the new Congress.

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As the Financial Stability Oversight Council works through its checklist of jobs mandated by the Dodd-Frank Act and continues a project to spur reform of the money market mutual funds, the big question is: What will the interagency body focus on next?