Retail & Commercial

Call it the second wave of the mortgage-refinancing collapse. Prepayment penalty income is about to crash. Hard. Especially in New York.

Some of the disclosure requirements in the landmark credit card reform law have made scant difference in nudging consumers to make more prudent financial decisions, a new study suggests.

Federal policymakers should make payday lenders structure their loans to be repaid over time, according to a report released Wednesday by the Pew Charitable Trusts.

WASHINGTON — Nearly two-dozen senators are seeking data the Consumer Financial Protection Bureau used as the basis for warning auto lenders they could be committing fair-lending violations.

The Pennsylvania company is raising $150 million. Two-thirds of it will go toward redeeming trust-preferred securities, but the remaining funds could be used to do bigger deals.

The Consumer Financial Protection Bureau got a confirmed director for the first time this year, when the Senate finally approved the longstanding nomination of Richard Cordray for the post. But the agency has also sustained the departures of high-ranking employees to law firms, consulting shops, banks and other destinations. Here's a look at some of the CFPB employees who have left in 2013, and where they have landed.

The Capital Asset Pricing Model’s value is debatable in normal times. If misapplied in today’s ultralow interest rate environment, it can severely overvalue banks and excuse poor operating performance.

MasterCard, echoing remarks made 16 hours earlier by Visa, is placing security at the heart of its emerging payments strategy.

Another big law like Dodd-Frank could be harmful to the mortgage market, but an incremental approach to housing finance reform might be the perfect solution.

Three federal home loan banks dropped their opposition to Bank of America's $8.5 billion settlement in a New York state court lawsuit over Countrywide residential mortgage backed securities.