Regulation

WASHINGTON — The Office of the Comptroller of the Currency has tightened up the process it uses to document and track banks that are flagged by examiners for having problems.

Embattled nonbank servicer Ocwen took a $100 million charge for a potential settlement of foreclosure violations and posted a third-quarter loss, but warned the final cost to settle allegations that it backdated foreclosure notices could be higher.

The Supreme Court is slated to hear arguments Tuesday in a case that could determine when and how borrowers are allowed to cancel their mortgages.

Small lenders are hoping a new representation and warranty framework by Fannie Mae and Freddie Mac will offer them alternatives to loan repurchases.

WASHINGTON — A smaller percentage of U.S. households in 2013 were unbanked compared with two years earlier, just as less traditional financial services products such as prepaid cards grew in usage among those without a bank account.

Policymakers are closing in on developing rules key to ensuring the ability of the government to take over failing behemoths, but the ultimate success of their plan may depend on how fast regulators can act.

A former Georgia community banker who faked his own death two years ago was sentenced on Tuesday to serve 30 years in prison for committing fraud that led to a bank's failure.

The Federal Reserve Board on Tuesday issued a final rule establishing common risk management standards for all financial market utilities subject to central bank supervision.

The Consumer Financial Protection Bureau released a report Tuesday highlighting illegal servicing practices in the $1.2 trillion student lending market, including charging illegal late fees, allocating payments to maximize late fees and misrepresenting minimum payments.

A senior lawmaker's bid to take the Financial Services Committee gavel next year from Chairman Jeb Hensarling, R-Texas, is unlikely to prove successful, but the effort could still have far-reaching implications for House Republicans.