Regulation

Banks want all loans held in portfolio to be classified as ultrasafe regardless of the underwriting characteristics or of a bank's asset size. But consumer activists and independent mortgage lenders are raising red flags ahead of possible Senate Banking action.

WASHINGTON — Federal banking regulators are putting pressure on a dozen or more states to begin regulating appraisal management companies within their borders.

WASHINGTON — Rep. Sean Duffy, R-Wisc., introduced a bill Thursday that would require regulators to be more transparent as they negotiate global insurance standards.

The SAFE Transitional License Act would allow registered lending officers to work at independent mortgage banks for 120 days while they complete state testing and licensing requirements.

One of the most powerful officials in the Federal Reserve System announced Thursday she plans to leave the central bank by the end of the year.

The financial industry and the White House are gearing up for a fresh battle this spring over investment advice for retirement savings.

Executives from two insurance companies, Prudential Financial and Country Financial, warned Thursday that the Financial Stability Oversight Council should be more transparent with the institutions it oversees, despite recent reforms.

A GOP-led measure would have forced the Defense Department to do more study before finalizing regulations on high-cost loans to service members. It was quashed when five Republicans voted with Democrats on the House Armed Services Committee.

The Los Angeles bank, which is in the process of being sold, vows to fight a Labor Department complaint that it overcharged employees for administering their retirement plan.

The compliance costs associated with the CFPB's proposed reforms to the payday lending would force many small businesses to close shop, reducing access to short-term credit for many Americans.