Regulation

Robert Maddox, who negotiated the $25 billion national mortgage settlement on behalf of Ally Financial, insists that the penalty far exceeds the damage done to borrowers.

Many borrowers with great credit can't get financing rates commensurate with their low risk. There's a major opportunity for banks to generate attractive returns by providing fairly priced student loans to these customers.

Rep. Barney Frank says the Supreme Court's ruling on Thursday to uphold President Obama's healthcare reform legislation gives a bleak outlook for legal opposition to Obama's other major piece of legislation: the Dodd-Frank Act.

The Consumer Financial Protection Bureau, which is required under Dodd-Frank to study the reverse mortgage sector, has found that the products "are not being used as intended, with increasingly younger borrowers taking out larger pots of money rather than gradual income streams to help finance their later years," writes American Banker's Joe Adler in his coverage of the bureau's report.

Eighteen institutions (and counting) are accused of violating the Americans with Disabilities Act.

In a case that could have narrowed the ability to sue under numerous consumer protection laws, the Supreme Court decided Thursday not to issue a ruling, saying that it was wrong to hear the case in the first place.

The CFPB finalized a rule Thursday that seeks to ensure that information banks give the bureau through supervision retains attorney-client privilege.

The Federal Reserve Bank of Richmond has ordered Village Bank and Trust Financial in Midlothian, Va., to serve as a source of strength for its ailing bank subsidiary.

The Government Accountability Office put new pressure on the agency to make a decision after months of foot-dragging.

Regulators are taking a hard look at payday lending practices, and that could give banks an unprecedented edge over storefront operators.