Economy

The regulatory burden for originators has not only been the main driver of acquisition activity in mortgages but also influences deal structures. Acquirers are looking to craft transactions so they don't get burned by targets' compliance lapses.

As part of its proposed sale to Royal Bank of Canada, City National has made a big Community Reinvestment Act commitment, which includes targeting small-business loans at the minority- and women-owned suppliers of three power companies.

MetLife Chief Financial Officer John Hele said financial watchdogs failed to define what they mean by “systemic” before working on new rules for companies that are designated a risk to the financial system.

Rep. Edward Royce, R-Calif., urged fellow House members Wednesday to support a Senate proposal that would make significant reforms to Fannie Mae and Freddie Mac.

The CFPB gave little ground in its pledge Wednesday to be "sensitive" to lenders that make a "good-faith effort" to comply with new mortgage disclosure rules that go into effect in August. The agency's statements fell short of a formal grace period that the industry and lawmakers had been demanding.

Departing New York state regulator Benjamin Lawsky revealed the final version of the BitLicense, the regulatory framework for digital currency businesses his department has developed over the past 18 months.

The "too big to fail" problem can't be solved with living wills and orderly liquidation. Rather, a structural solution is needed to reduce the size of mega-institutions.

As the first legal briefs are filed in MetLife's challenge to FSOC's decision to designate the life insurance giant as systemically risky, the interagency council and outsiders are pointing to the high bar the company has to clear to convince the court to overturn the decision.

First Resource Bank in Exton, Pa., plans to raise $6 million through a combination of common stock and subordinated debt to raise funds to redeem most of its Small Business Lending Fund preferred shares.

City National Bank in Los Angeles will provide $350 million in loans to minority- and women-owned small businesses as part of a community lending initiative, it announced Monday.

Banks and mortgage lenders are in the final stretch of preparing to deliver new TILA-Respa Integrated Disclosures to homebuyers starting Aug. 1. But it's not just the change of forms that is causing alarm bells. Fines could be steep, and legal liability could be even higher, for violators, while necessary technological changes are expensive, they say.

The merger of the Federal Home Loan Banks in Des Moines and Seattle became official on Monday, shrinking the overall number of banks in the system to 11.

A recap of the informed opinions (and the discussions they generated) on BankThink this week, including a call for a small-business loan brokers' code of ethics and why Congress needs to level the playing field for investors in bank obligations.

New servicing standards issued by the government-sponsored enterprises are unlikely to pose a hurdle for the biggest nonbank players in the market, but small servicers could find it more challenging.

In a sign that the GSEs may once again be trying to compete with each other, Freddie Mac will no longer charge lenders to use its Loan Prospector automated underwriting system.

The banking giant hopes that convenience — and less paperwork — will help it do more business with existing small business customers.