Regulation

In a two-day marathon markup, the House Financial Services Committee passed 14 financial reform bills, including measures to broadly restructure the Federal Reserve, block some CFPB rules and limit compensation at the GSEs.

MasterCard is cooperating with a European investigation into its fees, though it is questionable that this process will have a widespread effect on interchange, according to MasterCard CEO Ajay Banga.

Regulators have given the merger between CIT Group and OneWest Bank the green light — so long as CIT comes up with a revised Community Reinvestment Act plan. This condition is good news for the low-income communities impacted by the merger and sets a strong precedent for regulators' review of future bank deals.

The Federal Housing Finance Agency is still not producing enough adequately-trained examiners necessary to monitor Fannie Mae and Freddie Mac, according to an inspector general report.

The Special Inspector General for the Troubled Asset Relief Program is renewing calls for further investigation of servicers it claims may be denying too many Home Affordable Modification Program applications.

The House Financial Services Committee tackled several key bills including ones targeting Operation Choke Point, executive compensation at Fannie Mae and Freddie Mac, small banks' exam cycle, and changes or delays to several actions by the Consumer Financial Protection Bureau.

Bank of America and Goldman Sachs have promised the Obama administration to invest in, and provide other support for, efforts to fight climate change.

Bank regulators are likely to take further action to force banks to upgrade their cybersecurity processes as hackers continue to find ways to penetrate institutions’ defenses, Benjamin Lawsky, the top former New York bank supervisor, said Tuesday.

The Consumer Financial Protection Bureau is charging two companies affiliated with Western Union and Fidelity National Financial more than $38 million in total charges for allegedly steering consumers into a mortgage payment program that cost them millions of dollars in fees.

The Consumer Financial Protection Bureau is charging two companies affiliated with Western Union and Fidelity National Financial more than $38 million in total charges for allegedly steering consumers into a mortgage payment program that cost them millions of dollars in fees.