Law and regulation

Ohio regulators sued Sylvania, Ohio-based Collection & Recovery Bureau for allegedly using collection tactics banned by federal law.

Will lenders get a safe harbor against borrower lawsuits about underwriting in the "qualified mortgage" rule? Or will the CFPB opt for a "rebuttable presumption"? The agency's director says the differences between the two are "in some ways overstated." Either way he promises some bright lines to "minimize litigation risk."

The House Ethics Committee indicated that it will find the California Democrat did not violate any ethics or House rules at a hearing Friday, though her grandson and chief of staff could receive a letter of reproval.

Trading revenues at commercial banks fell 73% in the second quarter from a year earlier, due in part to a $2 billion loss by Jamie Dimon's JPMorgan Chase.

The National Credit Union Administration has announced that Gigi Hyland is resigning from its three-member board on Oct. 5.

If TAG is senselessly allowed to expire, many depositors may sever their relationships with the smaller banks in their communities and opt to place their money under the "protection" of the Too Big to Fail institutions.

The company paid roughly $939,000 to repurchase a warrant that would have allowed the Treasury Department to buy about 543,300 shares of BNC's common stock at $8.63 per share, BNC said in a regulatory filing Thursday.

Big banks hire a former governor (Pawlenty) as their top lobbyist. An FDIC official (Hoenig) slams their behavior. And the FHFA proposes linking GSE fees to foreclosure costs.

A task force led by New York Attorney General Eric Schneiderman and formed to probe misconduct in the mortgage market during the run-up to the financial crisis may be getting ready to take action.

Central clearing for over-the-counter contracts will undoubtedly reduce risks, but the market still has multiple regulators and multiple sets of rules for different players and for different instruments.

The attorneys general for Oklahoma, South Carolina and Michigan have joined a lawsuit challenging the constitutionality of the Dodd-Frank Act. They filed a complaint in U.S. District court about provisions in the legislation allowing the FDIC and Treasury to unwind troubled companies.

A Senate panel probing the multibillion-dollar trading loss by JPMorgan Chase plans to unveil its findings at a hearing this year to press regulators to tighten the Volcker rule.

The SEC is seeking to determine whether some private-equity firms are taking more profits from investments than they should under agreements with fund clients, according to people with knowledge of the matter.

Three state attorneys general have joined a lawsuit against the Dodd-Frank Act, arguing that provisions that grant federal regulators the ability to seize and wind down troubled banking companies are unconstitutional.

The selection of Tim Pawlenty as the Financial Services Roundtable's new CEO was a shock to those inside and outside Washington. We answer frequently asked questions about why he was chosen and what it means for the Roundtable — and the industry.

The Alabama lender says it intends to lower fees and relax repayment terms in response to customer feedback, not criticism from consumer groups.

The House Ethics Committee will on Friday hold a public meeting on Rep. Maxine Waters, who is under investigation for allegedly helping a Boston-based bank get bailout money during the crisis.

The Federal Reserve Board has terminated written agreements with Capital Community Bancorp. in Provo, Utah, and Coconut Grove Bank in Miami.

Personal motivations aside, many felt the hire made sense for the Financial Services Roundtable since it fortifies the trade group's relationship with Congress. What impact do you think Pawlenty is likely to have on banking policy?

Tim Pawlenty is hardly the first prominent politician to turn into a bank lobbyist. Indeed, there's a long line of them.