Regulation

The regulators have spelled it out: If a bank wants relief from onerous compliance requirements, a path to get there is to use simple, basic practices for credit risk management.

Ocwen Financial failed a test to determine whether it had notified borrowers of missing or incomplete documents for loan modifications in a timely manner, according to the national mortgage settlement monitor.

Internal Revenue Service examiners are conducting bank-like exams of virtual currency firms for possible anti-money laundering violations, Financial Crime Enforcement Network Director Jennifer Shasky Calvery said May 6.

Four former officers of Wilmington Trust have been charged with fraud by the Securities and Exchange Commission, which accused the bankers of intentionally understating past-due loans in 2009 and 2010. Two of the bankers face criminal charges.

While the penalty is a blow to Ripple Labs, it could have significant implications for the industry at large and its efforts to legitimize itself in the eyes of regulators and banks. Here's how:

Presidential candidate Sen. Bernie Sanders, I-Vt., has virtually no chance of winning the White House, but he will likely force "too big to fail" to be part of the campaign trail.

Senator Bernie Sanders proposed legislation to break up the nation's biggest banks, including JPMorgan Chase and Bank of America, setting up a contrast with Hillary Clinton as both seek the Democratic presidential nomination.

Federal Reserve Chair Janet Yellen said that leveraged lending, high-interest debt and elevated stock valuations are all signs of firms engaging in risky loans to boost yield in the zero interest rate environment.

WASHINGTON — Financial Crime Enforcement Network Director Jennifer Shasky Calvery said Wednesday that Internal Revenue Service examiners are conducting bank-like exams of virtual currency firms for possible anti-money laundering violations.

Former Federal Deposit Insurance Corp. Chairman Sheila Bair has been named president of Washington College, a small liberal arts school in Chestertown, Md.