Enforcement

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.

The Federal Reserve recently announced that it had released five community banks from enforcement actions.

MasterCard received a finding of violation from the Treasury for failing to report accounts held by two Iranian banks that were placed on a list in 2007 that prohibits U.S. entities from dealing with them.

The Consumer Financial Protection Bureau on Tuesday asked a federal court to shut down a California company accused of running a student debt relief scam that allegedly charged borrowers millions in illegal fees.

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.

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?

To hear some former examiners tell it, companies that are hostile during the exam process may get dinged more often than those that show respect and professionalism. Following are tips to ensure bankers do better on their next exam.

The Senate Banking Committee approved the nomination of a top Treasury official in charge of stopping terrorism financing and financial crime during an executive session on Thursday.

CFPB Director Richard Cordray said the agency has limited resources to go after bad actors for deception or fraud and consent orders are the most effective way to shape industry practices.

The Consumer Financial Protection Bureau is clamping down on student loan lenders and servicers that automatically default on loans when a co-signer declared bankruptcy or dies. Because private student loans are often sold and securitized, some companies' promises to eliminate so-called "auto defaults" are not being upheld.

There is an urgent need for the Financial Crimes Enforcement Network to bring its process for issuing civil money penalties and cease-and-desist orders in line with the other bank regulators.

The Consumer Financial Protection Bureau's move to collect complaints about online marketplace lenders is a sure sign it is laying the groundwork for rules or enforcement actions against the industry.

Citigroup executives involved in the issuance of residential mortgage-backed securities at the center of the 2008 financial crisis will not be facing criminal charges for selling toxic bonds, U.S. authorities have determined.

WASHINGTON — The Consumer Financial Protection Bureau is taking aim at marketplace lenders, announcing Monday that it is accepting complaints about the developing industry and releasing a bulletin to inform the public about such firms.

While regulators and law enforcement agencies are beginning to strike a more conciliatory tone with respect to digital currency, industry players complain the technology is still being stifled by its pariah status.

The regulatory system is "broken from start to finish" and is allowing banks and other big firms to wear down regulators until they get what they want, Sen. Elizabeth Warren said in a speech Thursday.

Bankers are still grappling with vendor software problems, longer processing times and delays in mortgage closings as a result of new disclosures that went into effect four months ago, according to a new survey by the American Bankers Association.

The mortgage servicer said it has received letters from the Securities and Exchange Commission regarding separate probes into its collection practices and fees.