Regulation

Federal regulators have ordered 14 mortgage services to help borrowers that were harmed by foreclosure errors, but left it up to them to develop common remediation guidelines. The servicers and their consultants met in Washington this week to try and reach a consensus.

Banks should adhere to high moral standards by discouraging people from going needlessly into debt. The concept of "fly now, pay later" does not promote consumers’ financial responsibility.

The Volcker Rule, enacted as part of the Dodd-Frank Act in 2010, has lately received a lot of adverse commentary. The complexity of the draft implementing regulation, and the clear indication in the regulators' accompanying questions that they did not know how to make the rule work, has produced a new round of criticism. But that’s only one of the problems this rule creates, and a relatively minor one.

Sandra Fisher Martins will brook no lawyerly explanations for impenetrable, convoluted writing. People have a “right to understand,” she says in a recently posted TED video.

The request by Sen. Tim Johnson serves as a rejoinder to Republicans who have been decrying the costs of new financial regulations.

Sen. Sheldon Whitehouse has reintroduced legislation that would allow states to cap the interest rates on credit cards used by their residents.

A group of U.S. senators on Nov. 9 introduced legislation that would allow states to cap credit card interest rates, which they say are riding at “extortion” rates for some consumers.

Overdraft elephants are hiding in plain sight in bank and credit union boardrooms. No one admits seeing them. No one talks about them. The less said the better.

Sen. Richard Shelby on Wednesday called for the Senate to pass a bill that would exempt more small banks from securities registration requirements.

A bipartisan group of Senators on Wednesday introduced a bill to create a covered bond market in the U.S. similar to legislation introduced by Rep. Scott Garrett, R-N.J.