Economy

WASHINGTON — A new mortgage disclosure regime due to take effect on Aug. 1 is unlikely to cause closing delays, according to Consumer Financial Protection Bureau Director Richard Cordray.

BankUnited in Miami Lakes, Fla., has hired Hakim Kassam, a former Wells Fargo banker, to run its small business finance department.

House Financial Services Committee Chairman Jeb Hensarling, R-Texas, issued subpoenas Monday for several federal agencies, asking for a trove of documents concerning ongoing investigations that he said they are obstructing.

Most banks appear to be coping well with the CFPB's ability-to-repay rule for mortgages, but the burden is falling harder on community banks. A new proposal that would allow more small lenders to grant home loans to borrowers with high levels of debt could help.

Senate Banking Committee Chairman Richard Shelby announced Friday he was pushing back a planned vote on regulatory relief until May 21. The move came just after panel Democrats said they would oppose the bill because they had not yet seen it.

The administration's signature loan modification and refinancing programs will be extended for one year to help borrowers "who continue to face challenges," the director of the Federal Housing Finance Agency said.

The Consumer Financial Protection Bureau and the Department of Justice are taking a renewed interest in redlining, the practice of lenders charging more for products or excluding altogether minorities within certain geographic areas — and their findings may be surprising.

A recap of the informed opinions (and the discussions they generated) on BankThink this week, including how convenience may help banks beat out Silicon Valley and whether community banks can reduce their regulatory burden on their own.

Fannie and Freddie will have more room to finance affordable rental housing, but it is unclear if it's enough to prevent possible disruptions later this year.

A community development venture in the District of Columbia supported by Citigroup, government officials and local financial institutions has partnered with loan marketplace Biz2Credit to facilitate loans to small businesses.

WASHINGTON — Two reports issued Thursday by the Treasury Department's Office of Financial Research suggest regulators have not considered all the potential risks from central swaps clearing and more steps may be needed to mitigate those risks.

Housing affects too many Americans to simply cast out government involvement, especially where the government-sponsored entities and Ginnie Mae are concerned.

Ocwen Financial failed a test to determine whether it had notified borrowers of missing or incomplete documents for loan modifications in a timely manner, according to the national mortgage settlement monitor.

The Fintech Sandbox — an accelerator of sorts for startups — has attracted ten data providers and eight fintech startups in two months. But it's still missing what it needs most: bank members.

Senator Bernie Sanders proposed legislation to break up the nation's biggest banks, including JPMorgan Chase and Bank of America, setting up a contrast with Hillary Clinton as both seek the Democratic presidential nomination.

After the early exuberance surrounding Apple Watch, banks and vendors are ramping up testing of bank apps on other wearable devices and everyday objects, preparing for a day in which most everything is connected to the Internet.

Bolstered by higher originations, Freddie Mac reported Tuesday that net income was $524 million for the first quarter, up from $227 million a quarter earlier.

Vincent Delie, CEO of F.N.B., discusses the costs of and difficulty in complying with size-related regulations, his outlook for acquisitions and the Baltimore market.