Economy

W.J. Bradley Mortgage Capital shut its doors after it was stuck with nonagency loans with TILA/Respa integrated disclosure issues that it couldn't sell.

Federal Reserve Chair Janet Yellen said Wednesday that the raft of rules and regulations brought on by Dodd-Frank and other international agreements since the financial crisis have made the banking sector and the public safer, but she said work to make those changes apparent to the public is continuing.

While the $1.9 billion of bonds are not guaranteed by the government, most of the underlying loans could have been sold to Fannie and Freddie, and the transaction accomplishes the same thing as the GSEs' risk-transfer deals.

The chairmen of the House and Senate banking committees appear to agree that banks that hold higher capital should get a significant break on other regulatory requirements. But the odds of enacting a bill this year remain long.

Members of a House Energy subcommittee had many basic questions for technologists, entrepreneurs and legal experts testifying at a hearing on digital currency Wednesday.

Unity Bancorp in Clinton, N.J., has bought its corporate headquarters building for $4.12 million.

The Federal Housing Administration said Tuesday that it has revised its proposed lender certification requirements in an effort to provide more clarity and reassure lenders they won't be penalized for minor loan defects or mistakes.

House Financial Services Committee Chairman Jeb Hensarling signaled an aggressive assault on the Dodd-Frank Act on Tuesday, outlining a bill that would allow banks to be released from some of the 2010 reform law's regulations and Basel III requirements if they hold sufficient capital.

Ginnie Mae needs more, and better-paid, staff to keep up with growing risks on nonbank seller/servicers, the watchdog agency head said.

Risk is building in nonbank companies that are closely linked with regulated institutions but that have not faced the kind of stiff rules imposed on banks since the financial crisis.

Three-fourths of House lawmakers signed a bipartisan letter that calls on the Consumer Financial Protection Bureau to take more steps to carve out community banks and credit unions from onerous regulations. But will it make a difference?

As merchants prepared to swap out their aging magstripe terminals for modern EMV card readers, acquirers hoped that this widespread demand for equipment would flood ISOs with revenue. But instead, some are finding EMV simply added to their expenses.

Since the financial crisis, there has been a consensus that bankers need to repair their corporate cultures in order to fix the reputation damage during the housing collapse. But some bankers are saying it needs to be a more coordinated effort.

We are reminded frequently that policies with the best intentions often do not reach their intended recipients and at times lead to previously unforeseen issues.

Prosper Marketplace on Monday announced a three-year agreement to offer financing to consumers making improvements to their homes through the website HomeAdvisor.com.

Bluetooth beacons — small nightlight-sized devices that can communicate with a mobile app as shoppers move throughout a store — may have the same potential for bank branches as they do for mega-retailers like Target Corp.

Fannie Mae and Freddie Mac gave $186 million to the National Housing Trust Fund, their first such contributions to a fund designed to provide construction and rehabilitation of rental housing for low-income families.

Berkshire Hills Bancorp in Massachusetts invested in technology to beef up its small-business lending, an area ripe for the picking by alternative lenders.