Regulation

Ohio Attorney General Mike DeWine's office is suing Christopher Rojas of Irvine, Calif., for running a foreclosure rescue operation that used multiple business names and failed to deliver on promises to lower consumers' mortgage payments. The lawsuit charges Rojas with multiple violations of Ohio's consumer laws.

In October of last year the acting chairman of the FDIC said at the annual ABA meeting, "the FDIC is going to undertake a number in initiatives to further our understanding of the challenges and opportunities for community banks."

Larry Hattix believes that adding outside bureaucracy "will significantly delay exam processing and corrective actions," while making it more difficult for regulators to intervene when problems arise at banks and thrifts.

WASHINGTON — In a largely symbolic party-line vote Wednesday, the Republican-led House Financial Services Committee voted Wednesday to repeal the government's authority to wind down large, failing financial institutions, and recommended slashing funding for the Consumer Financial Protection Bureau.

The Consumer Financial Protection Bureau plans to pursue actions against lenders for discriminatory practices, even when that discrimination is unintentional.

Annapolis Bancorp (ANNB) has repaid half of the $8.2 million it owed the Treasury Department under the Troubled Asset Relief Program.

American Express Co., InComm and other prepaid card marketers are in discussions with New Jersey officials and lawmakers that could bring an end to a situation that caused the removal of certain prepaid cards from retailers' shelves in that state.

The U.S. Supreme Court will soon rule on a case of far-reaching importance for any party affected by a Chapter 11 plan in a business bankruptcy case. At stake is the longstanding expectation of secured lenders that they'll either be repaid or permitted to take their collateral by means of a credit bid; in other words, paying for the collateral with their lien.

WASHINGTON — Treasury Secretary Timothy Geithner reiterated support Wednesday for mortgage principal reductions at Fannie Mae and Freddie Mac.

The Consumer Financial Protection Bureau said it plans to follow the Justice Department's lead in pursuing fair lending violations when a policy has a disparate impact on a group of borrowers, unintentional or not.