Regulation

Retiring Massachusetts Rep. Barney Frank, who chaired the House Financial Services Committee when the Democrats last held control, offered a mea culpa Wednesday to the incoming chairman of the panel, Rep. Jeb Hensarling.

Brian Moynihan said Friday the housing market continues to improve, but warned that a full transition to a largely privatized mortgage finance system is years, if not decades, away.

An activist investor group has threatened to file a lawsuit against Orrstown Financial Services (ORRF) unless the Shippensburg, Pa., company makes certain changes to its bylaws.

Only one day after Federal Reserve Board Chairman Ben Bernanke announced that regulators are close to finalizing the Volcker Rule, House Republicans continue their attack.

Bank regulators have lifted a memorandum of understanding against Timberland Bank nearly three years after the bank was hit with the enforcement action.

The Consumer Financial Protection Bureau issued a proposal which would allow banks to test different disclosure programs on consumers. The testing would make disclosures more succinct and cost-effective.

Majority Leader Harry Reid's proposed two-year extension of the Transaction Account Guarantee has been put to a stop.

Comedian Stephen Colbert singled out Jamie Dimon and his bank as "the dopest financial services institution around" for its support of a concert benefiting Hurricane Sandy victims.

In an appearance on former New York Gov. Eliot Spitzer's TV show, Rolling Stone columnist Matt Taibbi and his host were outraged that HSBC did not face criminal prosecution after the government said it allegedly helped drug dealers and terrorists launder money.

Jeffersonville Bancorp (JFBC) is set to become the latest New York company to exchange the federal charter of its bank for oversight by a state regulator.