Regulation

Two online payday loan operations in the Kansas City area have been shut down after the CFPB and FTC charged them with bilking more than $36 million from consumers.

A top official from the Financial Stability Oversight Council told House lawmakers on Tuesday that regulators remain open to improvements in transparency, though he did not name specific measures the council is considering.

The House approved a package of Dodd-Frank Act tweaks Tuesday evening, including a closely watched provision to clarify Federal Reserve capital standards for insurers.

Banks and mortgage lenders may have received too much relief from loan buybacks, putting taxpayers at greater risk for losses, according to a Federal Housing Finance Agency inspector general's report.

In his first major policy speech as the new housing secretary, Julian Castro voiced support for a Senate bill to reform housing finance and said policymakers should "remove the stigma associated with promoting homeownership."

The Federal Housing Finance Agency's plan to restrict membership to the Federal Home Loan Bank System could cost lenders hundreds of billions in mortgage funding, according to the CEO of the Chicago FHLB.

The Senate Banking Committee debated a host of regulatory relief issues Tuesday, among them the question of whether examiners are holding small banks to unreasonable standards.

The Consumer Financial Protection Bureau suit against Corinthian Colleges is the second time the agency has taken public action against a for-profit school rather than a student lender.

WASHINGTON — The Consumer Financial Protection Bureau has filed a complaint against Corinthian Colleges alleging the for-profit chain of colleges ran a predatory lending scheme and used unlawful debt collection practices.

A federal court in North Carolina ruled against the Federal Deposit Insurance Corp.'s multimillion-dollar loan loss claim against Cooperative Bank.