Law and regulation

Two consumer advocates who gave advance warning of the subprime mortgage crisis are now arguing that a responsible return to less-than-prime lending can work for lenders and borrowers.

The slew of mortgage rules coming down the pike tops the list for mortgage lender angst. And it's not just lenders who are concerned. Fair lending advocates worry about tighter standards leading to a squeeze on credit.

A tipping point is coming regarding anger and dissatisfaction over Dodd-Frank. But a new assessment of the regulatory landscape points a way for policymakers to get out of the mess.

One of the largest providers of force-placed insurance, under pressure from regulators to lower prices for the coverage, has agreed to reduce premiums it charges for the product in California.

The chief executive officer of JPMorgan Chase, Jamie Dimon, hosted a lunch with 75 New York business leaders in a bid to help to steer Washington away from the fiscal cliff and toward a budget compromise akin to Simpson-Bowles.

Rep. Barney Frank is calling on state and federal officials to reconsider prosecuting banks for the sins of smaller institutions they were pressured to acquire at the height of the financial crisis.

The CFPB said Monday it is now accepting complaints related to consumer reporting agencies, a.k.a. credit bureaus.

In detailed comment letters, banks expressed despair over the hardships they will face if regulators implement Basel III capital and liquidity rules.

The simmering controversy over American Express' Bluebird card typifies a classic debate: When do regulations that ostensibly protect the public from shady operators really just protect incumbent businesses from competition?

Legal violations in student loan servicing may be worse than those in mortgage servicing for borrowers in the militar, says the Consumer Financial Protection Bureau and the Defense Department. So the two are joining forces to help stop it.

Report shows that Charlotte bank provided financial help to both conventions this year, but the Democrats still owe B of A over $7 million in loan repayments from financing for the event.

Attention has largely been focused on merchants seeking to opt out of the deal. But if the Justice Department were to object to the agreement's terms, the judge would likely listen, observers say.

There needs to be stronger incentive for bankers to behave, far-reaching cultural changes spurred by directors and a unilateral commitment to stamp out money-laundering schemes.

A flurry of new mortgage rules are overwhelming home lenders — some they feel are too strict and others too ill-defined to decipher.

Prince, the acclaimed pop and rock star, filed a $116,000 lawsuit against collection agency Capital Asset Protection, claiming it withdrew a six-figure sum from his bank account without permission.

"Analytical, calm and unbiased," is how his former colleagues describe Steven Antonakes, the CFPB's associate director for supervision, enforcement and fair lending. And it's not just fellow regulators signing his praises, industry veterans view him as being constructive force.

Establishing contactless card payments in taxicabs in Barcelona, Spain provides another indication that La Caixa Bank intends to make the city a case study for new payment methods.

Three banks failed Friday – including two in Florida – and will cost the Federal Deposit Insurance Corp. an estimated $86 million. Regulators seized the $200 million-asset Excel Bank in Sedalia, Mo.; the $159 million-asset GulfSouth Private Bank in Destin, Fla.; and the $67 million-asset First East Side Savings Bank in Tamarac, Fla.

A group of nine retailers asked a federal judge to approve a multibillion dollar settlement of a lawsuit challenging the way banks and credit card networks set interchange fees.

Federal regulators are reviewing banks' growth plans, particularly those that include third-party companies. To avoid excessive scrutiny, industry experts advise banks to proactively discuss such relationships with examiners.