Enforcement

JPMorgan Chase agreed to pay California $50 million to resolve claims the bank cheated tens of thousands of credit-card customers while collecting debts from them, California Attorney General Kamala Harris said.

Bank of America has agreed to pay $335 million to settle a lawsuit claiming it misled shareholders about risky mortgages and its dependence on the electronic mortgage registry known as MERS.

First Horizon National Corp. in Memphis expects to be fined up to $11.5 million by federal arbitration panel, in a dispute over its sale of preferred-term securities to First United Corp. in Oakland, Md.

New York’s attorney general called on more than 90 banks including units of Toronto-Dominion Bank and HSBC Holdings to revamp customer screening procedures to give poor people better access to financial services.

The acting head of New York’s Department of Financial Services will step down before the end of the year, giving New York Governor Andrew Cuomo a run at reshaping a regulator that has levied billions of dollars of penalties against international banks and at times raised hackles in foreign capitals.

"We are reaching that point in the cycle where credit risk is moving to the forefront" of regulatory concerns, Comptroller Thomas Curry warned Wednesday.

The head of the Consumer Financial Protection Bureau warned software vendors that they face new scrutiny from regulators for causing mortgage lenders to miss the TRID-compliance deadline. He was vague about how far the CFPB might go, but many in the industry are prone to fear the worst.

Bank of New York Mellon won final approval of a $180 million settlement with investors who claimed they lost money amid allegations the bank had defrauded clients in foreign-exchange transactions for as long as a decade.

David H. Stevens, the Mortgage Bankers Association's president, pledged to "shine an aggressive spotlight on abusive enforcement" at the trade group's annual gathering, specifically calling out the Department of Justice.

The government's spotlight on servicing problems means companies should be taking steps now in the face of regulators' current enforcement authority and the potential of coming rules.

Fifth Third Bancorp has agreed to pay nearly $85 million to settle fraud charges related to undisclosed defective Federal Housing Administration-insured loans.

The clash between the Department of Housing and Urban Development and its inspector general over down payment assistance programs run by state or local housing finance agencies continues to heat up.

Consumer advocacy groups are urging regulators to take a closer look at how alternative lenders are using the stockpiles of personal information they collect.

The Mortgage Bankers Association is disappointed that the Consumer Financial Protection Bureau has not provided an explicit temporary safe harbor for lenders who have made a good-faith effort to implement new disclosures.

Trinity Capital in Los Alamos, New Mexico, and its subsidiary Los Alamos National Bank will pay a $1.5 million penalty to the Securities and Exchange Commission following charges of accounting fraud.

WASHINGTON — Federal examiners will expect institutions to show that they made a "good faith" effort in preparing for the implementation of the new integrated mortgage disclosures that go into effect on Oct. 3, regulators said in letters sent to industry groups on Thursday.

The Consumer Financial Protection Bureau hit an indirect auto lender and a subsidiary with $48.3 million in fines and restitution on Thursday, accusing it of deceptive collection tactics.

Recommended reforms released by the Department of Education for servicers and private student lenders are part of intensifying federal efforts to help struggling borrowers.

JPMorgan Chase has paid off $3.56 billion of the $4 billion it owes in consumer relief credit as part of a 2013 settlement over marred mortgage-backed securities issued before the crisis.

In comments to the Treasury Department, traditional financial institutions are calling for more oversight of an industry that is fast becoming a big competitive threat.