Regulation

Until Congress gets around to GSE reform, the FHFA could at least make Fannie and Freddie less expensive to run. Combining the companies would reduce the threat that they will need more support from the Treasury and perhaps lower the cost of obtaining a mortgage.

Even though the payments industry earlier this year put an end to the debate over how to comply with a federal mandate for routing EMV debit transactions, the technology still isn't widely available.

Republicans won a sizable victory late Tuesday, retaking the Senate after losing it eight years ago. Banks, too, largely benefited, as an ally of the industry captured a Senate seat in West Virginia, two credit union allies fell and a key Democratic senator squeaked past. Here's how election night played out for banks.

Sen. Richard Shelby is expected to become chairman of the Senate Banking Committee next year after Republicans seized enough seats to take control of the chamber. But the Alabama Republican will face a time-crunch to get his agenda through.

A U.S. District Court decision this week that blocked the use of a controversial legal theory in a fair housing case on discrimination has ignited industry hopes that the Supreme Court will take a similar stance on a separate, larger case pending before the high court.

Bankers are worried that a new proposal will allow Farm Credit institutions to invest in non-farming businesses. The Farm Credit Administration denies those claims, stating that the proposal is designed to comply with the Dodd-Frank Act.

Banks are hiring armies of lawyers, accountants, compliance consultants and IT vendors as they prepare to comply with the Volcker Rule. Ironically, their attempts to fortify themselves with outsourced knowledge could expose them to more operational risk.

Until U.S. authorities can prove they have a better idea about how to provide short-term, small-dollar loans and other alternative financial services to people in need, they should stop trying to drive from business the lawful companies working to serve this market.

WASHINGTON — MetLife has made clear its objection to regulators designating the firm as a "systemically important financial institution," but on Monday the life insurer had the opportunity to air its concerns directly.

Industry veteran David Applegate will serve as CEO of Common Securitization Solutions LLC, the new firm co-owned by Fannie Mae and Freddie Mac to develop a common securitization platform for the mortgage secondary market.