Regulation

Extending the law that provides unlimited deposit insurance on non-interest bearing demand deposits would send a signal that just maybe the industry is not fully healthy and still needs support.

In recent months at least 650 thrift institutions have experienced a change in supervisory agency from the Office of Thrift Supervision to the Office of the Comptroller of the Currency as mandated by Dodd-Frank. Also, thrift holding companies now come under the supervision of the Federal Reserve Board.

A move to revise the Credit Finance Business Act and allow South Korea’s financial regulator to set the commission rates card firms collect from merchants has met with strong opposition.

The Department of Housing and Urban Development said Monday that it has charged Bank of America Corp. with discriminating against disabled home buyers by asking them for medical information and proof of federal disability income.

North Dakota Attorney General Wayne Stenehjem is warning residents of the state to be on alert for criminals posing as payday loan operators and debt collectors.

The Dime Savings Bank of Williamsburgh announced that it intends to convert from a federally chartered thrift supervised by the OCC to a state-chartered thrift to be supervised by New York State Department of Financial Services.

The amount the Michigan company ends up paying will depend on whether its financial footing improves.

The perfect metaphor for the housing crisis sits, ignominiously, off the coast of Italy. That lumbering hulk of a ship – the once Grand Concordia — is stuck, half sunk, going nowhere, and the prospects for the situation improving are problematic at best. Refloat? Scrap? Maritime experts are weighing the pros and cons, but I think there's general agreement about siphoning off the fuel before a possible leak turns pristine waters into a very toxic mess.

Two banks failed on Friday, with the Federal Deposit Insurance Corp. only finding a buyer for one of the fallen institutions.

The Office of the Comptroller of the Currency is under pressure to let borrowers have the right to sue servicers even if they receive compensation under the foreclosure review process.