Economy

The question of how and why Wells Fargo failed its living will test is an issue the bank needs to address soon as it faces another deadline to fix problems identified by regulators.

The Federal Reserve released the final version of its total loss absorbing capacity rule – one of the final elements of the post-crisis regulatory framework meant to provide a means of recapitalizing a failed megabank.

The National Credit Union Administration rule expanding member business lending introduces new risks and lacks legal basis.

Federal Reserve Chair Janet Yellen said she is advising the incoming Trump administration not to roll back the improvements in bank safety and soundness enshrined in Dodd-Frank, but acknowledged that recent scandals “certainly suggest there is room for improvement” when it comes to bank culture.

The mortgage interest deduction has been a pillar of U.S. housing policy for more than a century, but Congress appears ready to consider significant changes to it that some industry players worry could effectively render it moot.

BlueVine, an online small business lender based in Redwood City, Calif., said Wednesday that it has closed a $49 million funding round.

After Wells Fargo became the first U.S. bank ever sanctioned over its resolution plan, observers are wondering what it means for the future of the institution and the living will process.

It is going take some time before it comes to fruition, but the Federal Housing Finance Agency got the ball rolling Tuesday on pushing Fannie Mae and Freddie Mac to begin purchasing manufactured housing loans.

Of the five banks that failed their living will tests earlier this year and were forced to resubmit plans, only Wells Fargo failed again, resulting in immediate regulatory action that will restrict its growth, including its ability to expand internationally and buy nonbank subsidiaries.

The Federal Housing Finance Agency finalized a rule Tuesday that will create a "duty to serve" for Fannie Mae and Freddie Mac to help low- and moderate- income consumers, including encouraging a secondary market for manufactured housing loans.