Regulation

Industry watchers expecting foreclosure trends to follow a predictable path are destined for surprises, as the recent figures from RealtyTrac demonstrate. March marked a 4-year low in new foreclosures, with actions increasing in judicial states, but surprisingly declining in non-judicial ones. In the aftermath of the AG settlement with the major servicers, this result seems counterintuitive to say the least. However looks may be deceiving on closer examination.

A European mobile wallet venture led by telecommunications operators has run into a setback with regulators.

WASHINGTON — Banking regulators in some states have expanded the use of a mortgage licensing system to include non-banks, the Conference of State Bank Supervisors said Monday.

Industry observers are concerned that banks could get caught flat-footed as regulators ramp up oversight of Bank Secrecy Act and Anti Money Laundering policies.

Second-step conversions by mutual holding companies have been in a freeze since last summer, but at least one analyst believes that the market is set to thaw.

The American Bar Association argued a CFPB rule to protect privileged bank information is flawed because it presumes the agency has a right to the information in the first place.

Pacific Valley Bank in Salinas, Calif., announced it intends to de-register its thinly traded shares and suspend filing periodic financial reports with the FDIC as a result of the Jumpstart Our Business Startups (JOBS) Act signed into law this month.

Thomas Hoenig and Jeremiah Norton were officially sworn in Monday as the two newest members of the Federal Deposit Insurance Corp. board of directors.

In the wake of the news of Global Payments' breach last month, some are asking processors to tighten security and accept more risk.

DBA International, the largest association representing the debt-buying industry, supports the recent enforcement actions by the Federal Trade Commission to shut down and freeze the assets of a company accused of fraudulently collecting more than $5.2 million in payday loan debts from consumers.