Regulation

Fifty community banks across the country received $767 million in the latest round of funding from the Small Business Lending Fund, the Treasury Department said Wednesday.

Stefan Walter, the secretary general of the Basel Committee on Banking Supervision, defends the new capital rules against criticism they are too much too fast.

Fannie Mae and Freddie Mac became the latest big names to seek a voice in the massive $8.5 billion settlement reached by Bank of America Corp. with investors in mortgage-backed securities with a court filing Tuesday.

Bank of America's legal woes deepened Tuesday, as U.S. Bank filed suit over soured home-loan bonds and a flurry of investors said they might object to a high-profile mortgage-bond settlement.

The Federal Reserve Bank of Chicago has ordered CB Holding Corp. in Aledo, Ill., to serve as a source of strength for its struggling bank unit, Country Bank.

If the U.S. Congress had failed to lift the debt ceiling by its Aug. 2 deadline, senior Fed officials were prepared to take necessary actions to stabilize the market, if warranted.

U.S. Bancorp asked a New York court to force Bank of America Corp.'s Countrywide Financial unit to repurchase more than 4,000 loans in a mortgage pool to repair breaches of contract related to improper underwriting.

Spencer Bachus' lead in campaign contributions reverses an advantage held last session by the House Financial Services Committee's top Democrat.

An analysis of campaign-finance data proves that the House Financial Services Committee is an excellent place for vulnerable freshmen to raise money.

The FDIC is objecting to Bank of America's proposed $8.5 billion mortgage-bond settlement with investors, joining investors and states that are challenging the agreement.