Regulation

RPM Mortgage and its chief executive are facing $20 million in fines on allegations that the company violated the loan originator compensation law enforced by the Consumer Financial Protection Bureau.

Bank of America has been sued by military veterans who say the bank charged them excessive interest rates while they served in Iraq, the Triangle Business Journal reported.

In the wake of a report that the Financial Crimes Enforcement Network has identified more than 50 credit unions at risk of serving as a conduit for money laundering activities, the CU trades and regulators alike were scrambling to respond to what the NCUA suggested could be a "regulatory blind spot."

JPMorgan Chase won the latest round in its long-running dispute with the Federal Deposit Insurance Corp. after a judge ruled the bank doesn't have to shoulder certain liabilities tied to its 2008 takeover of Washington Mutual's banking operations.

The U.S. Postal Service strongly criticized a recommendation from its inspector general that the agency expand remittances, check cashing and other banking services. The services would be potentially riskier and costlier than the impression left by IG David Williams' report, the USPS said.

Rep. Edward Royce, R-Calif., urged fellow House members Wednesday to support a Senate proposal that would make significant reforms to Fannie Mae and Freddie Mac.

The House approved a measure Wednesday that would bar the Department of Justice from using federal funding to apply a controversial legal theory on price discrimination in litigation.

BB&T has received regulatory approval for its acquisition of Bank of Kentucky Financial, with the Federal Reserve providing a blueprint for approvals of future deals.

The CFPB gave little ground in its pledge Wednesday to be "sensitive" to lenders that make a "good-faith effort" to comply with new mortgage disclosure rules that go into effect in August. The agency's statements fell short of a formal grace period that the industry and lawmakers had been demanding.

Democrats in the House and Senate have banded together around a regulatory relief bill for community banks, a response to broader reforms proposed by Republicans to roll back parts of the Dodd-Frank Act.