Regulation

President Barack Obama is expected to announce Wednesday that he will recess appoint Richard Cordray to serve as director of the Consumer Financial Protection Bureau, bypassing Senate Republicans who had blocked the nomination.

President Barack Obama is expected to announce Wednesday that he will recess appoint Richard Cordray to serve as director of the Consumer Financial Protection Bureau, bypassing Senate Republicans who had blocked the nomination.

The credit card industry's total revenue fell to $154.9 billion in 2011, as borrowing grew sluggishly and issuers struggled to overcome regulatory restrictions, according to advisory firm R.K. Hammer.

President Obama's recess appointment of Richard Cordray to head of the CFPB will actually do more harm to the fledgling agency than good.

A number of analysts and attorneys are convinced that smaller banks will feel the effects of new rules associated with the Dodd-Frank Act.

The Federal Reserve Board and the Office of the Comptroller of the Currency issued announcements with respect to the mortgage consent orders stating that consumers who believe they were financially harmed during the mortgage foreclosure process by specific financial institutions in 2009 and 2010 can potentially receive compensation.

The Federal Reserve Board is continuing its mission to make the central bank more transparent by releasing senior officials' projections for the direction of monetary policy.

A judge in New York state court Tuesday delivered an important ruling in favor of mortgage-bond insurers in a case over mortgage-backed securities Countrywide Financial had insured by MBIA.

WASHINGTON — The Treasury Department would begin to collect fees from large banks on July 20 to fund the Office of Financial Research and Financial Stability Oversight Council under a proposal published Tuesday.

JPMorgan Chase’s CEO will have the misfortune of catching a significant amount of fallout from the MF Global mess.