Regulation

Merchants are increasingly frustrated over how the EMV deployment has interfered with their legally guaranteed options for PIN debit transaction routing and authorization — and since the government gave merchants this right, the Merchant Advisory Group is appealing to the government to take a look at how things have played out.

The CFPB alleges that David Eghbali, a loan officer for a Wells Fargo branch in Beverly Hills, Calif., developed a scheme to manipulate escrow fees in order to close more mortgages and boost his bonus. Eghbali says he was forced to sign a settlement because he couldn't afford to fight the CFPB in court.

The Inspector General for the Department of Housing and Urban Development Inspector General is not backing down on his concerns about premium pricing associated with the down payment assistance programs by the Federal Housing Administration.

Academics are challenging the Consumer Financial Protection Bureau's study of auto title loans, calling the findings inconsistent with state data. The study found that one in five borrowers who take out a short-term auto title loan end up having their vehicle repossessed. Some states report vehicle repossessions rates of between 6% and 11%.

The Justice Department's effort to hold individual executives accountable for corporate wrongdoing could backfire by posing conflicts that discourage cooperation from companies, the country's biggest business lobby warned.

WASHINGTON — A federal judge Thursday sentenced former Voyager Bank Chief Executive Timothy Owens to 18 months in prison after he pleaded guilty to obstructing a Federal Reserve examination of his institution.

WASHINGTON — The Federal Deposit Insurance Corp. is set to release its Quarterly Banking Profile for the first quarter of this year on June 1.

Large enough to meet the needs of most customers yet small enough to escape some of the Dodd-Frank Act's most onerous compliance expenses, banks with assets of $2 billion to $10 billion are more profitable, as a group, than their smaller and larger counterparts, according to an analysis by Capital Performance Group.

Recent legislative proposals to make piecemeal changes to the government-sponsored enterprises could set broader GSE reform on the wrong path.

Smartphones are an important window into understanding underbanked customers, the Federal Deposit Insurance Corp. said in a report released Wednesday in conjunction with a meeting of the agency's advisory committee on economic inclusion.