Regulation

While marketplace lenders have introduced valuable innovation into financial services, they carry a fundamental flaw that threatens to undermine their business, destabilize financial markets and cause real economic hardship.

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WASHINGTON — Four more Federal Home Loan Banks have won regulatory approval to participate in a program that allows member institutions to sell jumbo mortgage loans through a conduit to Redwood Trust.

In his first interview since taking over HSBC's U.S. bank late last year, CEO Patrick Burke contends that the U.S. bank could prove to be HSBC's hidden gem provided it focuses on multinational corporate clients and cooperates better with its global affiliates.

Banks that sold faulty mortgage-backed securities right before the crisis have suffered a string of legal defeats over the timing of government lawsuits, but some experts believe the industry may still have a shot in the Supreme Court.

In 1979, mortgage bankers worried that they could be undercut by "sleeping giants" like Merrill Lynch, Sears Roebuck and what was then called Master Charge.

American Banker readers share their views on the most pressing banking topics of the week. Comments are excerpted from reader response sections of AmericanBanker.com articles and from our social media platforms.

The Office of the Comptroller of the Currency has promoted Amrit Sekhon to deputy comptroller for capital and regulatory policy.

Rep. Sean Duffy, R-Wis., is pressing the Federal Deposit Insurance Corp. for information on how it will ensure financial stability in the wake of Puerto Rico's debt crisis.

As the Small Business Administration's flagship 7(a) loan program breaks records, its other loan program stagnates. Advocates for so-called 504 loans hope a drive to permit CRE refinancing will inject new life.