Compliance

International remittances grew at a number of banks last year, according to new data, but anti-money-laundering rules may make the fee-based business too expensive to keep.

An audit of Ginnie Mae financials identified four "material weaknesses" and one "significant deficiency," primarily related to the accounting of $6.6 billion in defaulted loans made by the failed lender Taylor, Bean & Whitaker.

Hudson City Bancorp in Paramus, N.J., has been released from an enforcement action with federal regulators.

Change is coming to the credit card industry following the government's recent antitrust victory against American Express, but the next few weeks could determine how deep the changes are — and who wins and loses.

The Bank of England will research whether issuing a digital currency such as Bitcoin would help it achieve its monetary policy, financial stability and regulatory goals.

Problems related to loan servicing dominate the consumer complaints about mortgage companies made to the Consumer Financial Protection Bureau, but an agency official expressed optimism about the industry's response to these grievances.

CIT's John Thain and OneWest's James Otting, scheduled to speak today at a public hearing on their $3.4 billion M&A deal, will face complaints from community activists that they owe the public more after receiving substantial government help during the financial crisis.

BB&T has received subpoenas from the Justice Department tied to a probe of the Winston-Salem, N.C., company's FHA lending.

One in three struggling homeowners who received a loan modification through the Home Affordable Modification Program ultimately redefaulted on those loan.Meanwhile, the program that was supposed to help some 4 million families avoid foreclosure has helped only a fraction of that amount, according to a report presented to Congress.

During an unusually aggressive bout of questioning for Yellen, particularly from a lawmaker generally regarded as supportive of the Fed chair, Warren questioned comments made by Fed General Counsel Scott Alvarez last year raising concerns with aspects of the financial reform law.

The Federal Reserve is encouraging the industry to explore faster payments, and that is all well and good. But effectively directing it to do so is beyond its authority and would be a mistake.

Capital One has received requests for information from federal regulators about its anti-money-laundering program and check casher clients, as authorities lean on banks to do a more thorough job policing their customers — and their customers' customers.

The heightened regulatory environment for servicers has also prompted a wave of process improvements.

NAFCU is urging NCUA to outline its overarching approach to risk mitigation in the CU system, in light of several recent moves the agency has made or has indicated it will be tackling in the near future.

It's not quite too big to fail, but Ocwen is the country's largest servicer of subprime mortgages. So if it were forced to sell itself, or even failed, the transfer of some $410 billion in servicing rights could create havoc in the mortgage market, industry experts said.

WASHINGTON — NCUA isn't the only one looking at how redefining "small" as way to provide regulatory relief.

WASHINGTON — The Consumer Financial Protection Bureau will continue its work to ensure credit reports are fair and freely given to consumers, agency director Richard Cordray said Thursday.

CFPB officials are keeping a close watch on the Qualified Mortgage and ability-to-repay rules to gauge whether further changes should be made. But mortgage numbers don't give a clear picture on what kind of impact they've had.

NEWPORT BEACH, Calif. — The National Association of Credit Union Service Organizations says NCUA is in the wrong for asking Congress to expand the federal credit union regulator's authority over CUSOs and vendors that do business with CUs.

NCUA approved a proposed rule that would raise the asset ceiling for its definition of a "small entity" credit union by $50 million to $100 million.