Regulation

Securities and Exchange Commission inspectors said a large credit rating firm "appeared to allow" for a pending rating decision to be disclosed to certain people before the action was publicly announced.

Once slated for liquidation, Corus Bankshares Inc. received court approval for its bankruptcy exit plan that calls for the former Illinois bank holding company to emerge as a real estate investment firm.

Codorus Valley Bancorp in York, Pa., repurchased a warrant to buy more than 260,000 it issued to the Treasury Department in 2009 as part of its participation in the Trouble Asset Relief Program.

Bond investors are turning against Ally Financial Inc., the auto and home lender majority-owned by the U.S. government, as mounting mortgage liabilities threaten its turnaround plan.

Japan's Financial Services Agency is nearing completion of an investigation into the local arm of U.S. financial giant Citigroup Inc. on suspicion of lax compliance, with questions remaining over anti-money laundering controls, and will likely issue sanctions as early as next month, people familiar with the matter said Friday.

A watchdog agency's report reveals a mad dash in 2009 by B of A, Citi and other banks to repay their Tarp funds. Regulators clashed with each other over the repayment terms and ultimately relaxed their own rules.

Nine major servicers regulated by the Office of the Comptroller of the Currency completed 180,000 foreclosure actions in the second quarter, but these firms are still managing roughly 1.3 million borrowers who are going through the foreclosure process.

The Consumer Financial Protection Bureau is applauding the Treasury Department for guidance it issued Thursday that would help members of the military avoid foreclosure.

When Michel Barnier of the European Commission singled out auditors for enhanced scrutiny this week, he was reacting to anger, in Europe at least, over the "no bark, no bite" behavior of accounting "watchdogs" before, during, and after the financial crisis.

The Durbin Amendment on debit interchange has been cited as reason for banks to shutter branches. Still, some observers believe it is one of many factors, if not the scapegoat, for closures that were necessary regardless of regulatory change.