Regulation

The U.S. Treasury is looking beyond the insured banking system in an effort to improve the delivery of viable credit alternatives to consumers.

The Consumer Financial Protection Bureau received a clean bill of health from the Government Accountability Office in its first annual report of the bureau's finances.

Fannie Mae and Freddie Mac late Tuesday afternoon released a somewhat detailed bulletin on the underwriting guidelines for refinancing underwater borrowers with GSE loans, segmenting what's allowable based on the loan-to-value (LTV) and if the product is being offered by the current servicer.

A bill by Rep. Spencer Bachus passed overwhelmingly in the House Financial Services Committee to cap senior executives pay at Fannie Mae and Freddie Mac.

The director of the CFPB's Office for Older Americans said the bureau plans to raise awareness of the growing problem of elder financial abuse. Democrats used the hearing to reemphasize that the bureau can't fully protect seniors until a permanent director is confirmed.

A new book and piece by 60 Minutes have raised issues about whether Rep. Spencer Bachus traded on private information he received from regulators during the financial crisis.

DeMarco takes responsibility for the $12 million in payments, but says they were necessary to ensure top talent at the government-sponsored enterprises.

The world now knows which 28 giant banks will be required to post extra capital. Much else about the Basel III regime remains uncertain.

County and state officials are turning up the heat on MERS, as recent lawsuits filed in Michigan, Florida, Delaware and Texas challenge the validity and accuracy of the mortgage industry-controlled loan registry.

In a speech to banking industry officials, Jim Freis noted that nonbanks will soon face similar anti-money laundering restrictions as banks.