Regulation

Deputy CFPB Director Raj Date told an industry group Tuesday that the bureau was carefully weighing the effect that a new ability-to-repay standard will have on the mortgage market.

The Federal Reserve Board has terminated a written agreement with the former Cadence Financial about a year after the Starkville, Miss., company was acquired.

It's time for our nation's leaders to get serious about job creation. Our economy is beginning to inch its way forward toward recovery, but the only way forward to real prosperity for all is through small businesses.

Fed officials argued Tuesday that their swap lines are easing pressures on European banks, and that's good for U.S. banks and consumers. But House Republicans raised concerns.

The Consumer Financial Protection Bureau said Tuesday that certain borrowers who did not receive required mortgage disclosures should have a right to cancel their loans, as long as they notify their lender within three years.

If TAG is allowed to expire at yearend, it could spur community banks looking for extra liquidity to turn back to FHLB advances, which are at their lowest point in a decade.

The National Reverse Mortgage Lenders Association has raised the possibility of creating a hybrid reverse mortgage loan with members of the White House staff, Peter Bell, its president and CEO told attendees at the group's eastern regional meeting in New York.

The Department of Housing and Urban Development has ordered AmericaHomeKey, Inc., to immediately stop making FHA-insured mortgages and fined the Dallas-based lender $268,000.

The House voted Monday to pass a bipartisan bill that would expand protections for privileged information that financial institutions share with the Consumer Financial Protection Bureau.

The banking industry's longtime nemesis, Sen. Richard Durbin, is now pushing to allow borrowers to discharge private student loans in bankruptcy.