Regulation

Americans are mostly powerless to correct harmful errors on their credit reports thanks to loopholes and obstacles in the federal law governing credit-reporting agencies, according to a report Sunday in an Ohio newspaper that was widely picked up by national media outlets.

Megabank CEOs want the Fed to disclose more about its stress test models. They can show good faith by supporting the international effort to make global counterparty risk transparent.

The Office of the Comptroller of the Currency closed Security Bank in North Lauderdale, Fla., on Friday, bringing the total number of failures so far in 2012 to 23.

In a presidential election year, banks tend to hedge their campaign donations. But in 2012, banks are betting heavily on Romney, in part because they don't think Obama can take a harsher view of their business.

Nobel prize-winning economist and New York Times columnist Paul Krugman went head-to-head with Rep. Ron Paul, the libertarian Texas Congressman, last week and dived into some interesting areas.

The Federal Housing Administration is "by no means out of the woods," former commissioner and current Mortgage Bankers Association CEO David Stevens says.

The Consumer Financial Protection Bureau sees non-bank services as most in need of new regulation, Director Richard Cordray says. In a speech and subsequent interview, he discusses the progress of CFPB enforcement actions and the weakness of data on consumer finance practices.

The Consumer Financial Protection Bureau is in talks with the Justice Department over how the agencies will divide and litigate fair lending cases, a CFPB official said Friday.

In 2004, I had the unique distinction of being perhaps the only person in history to have the U.S. Senate place a bounty on his head. I didn't rob a train. My crime was leading a federal investigation into misconduct at Fannie Mae.

Floyd Stoner, the former chief lobbyist for the American Bankers Association, has joined the board of $1.4 billion-asset Orrstown Financial Services in Penn.