Regulation

A top advisor to Treasury Secretary Jack Lew says real estate investment trusts "appear to be aligned" with the Federal Home Loan Banks' mission. The Federal Housing Finance Agency wants to boot REITs from the FHLB system.

Two days after Apple unveiled its attempt to advance mobile payments, CFPB Director Richard Cordray cited the burgeoning field as a key area of concern his agency needs to examine.

The American Association of Bank Directors recently hired policy veteran Rich Whiting as executive director, and he immediately helped weigh in on some new OCC standards that concerned the trade group.

The head of the Independent Community Bankers of America says the government has gone too far demanding banks act like law enforcement.

The Consumer Bankers Association frequently tangles with the Consumer Financial Protection Bureau, but its new chief Tim Wennes struck a more conciliatory tone in an interview. Rules that promote transparency and consumer understanding are good, but consumer choice has to be preserved, he said.

National Credit Union Administration board member Rick Metsger said a Federal Housing Finance Agency proposal to restrict Federal Home Loan Bank membership could give banks an unfair advantage over some smaller credit unions.

House Republicans warned Wednesday that bank examiners are going to continue to pursue small institutions as part of a government crackdown on certain merchants such as payday lenders, pawn shops and gun dealers.

Although time is running out for the Senate to take up pending cybersecurity legislation before the end of the year, key lawmakers said they are still hopeful it could be enacted soon in the wake of several prominent breaches.

New regulatory and investor compliance requirements have put a renewed emphasis on quality control measures. But lenders are discovering the additional costs of these efforts are outweighed by the savings from originating fewer defective loans.

The draft released by the top Financial Services Committee Democrat would remove adverse information from credit reports and require consumer data furnishers to retain records.