Law and regulation

A federal judge has granted approval for a Florida force-placed insurance class action to proceed against Wells Fargo and QBE Insurance. Evidence already uncovered in the case poses added peril to the defendants and other banks.

Weak demand for advances among member banks suppressed profits at several of the nation's Federal Home Loan Banks during the fourth quarter.

Many banks would get the benefit of a broad cut in the tax rate, but the administration is also proposing to reduce deductions for corporate borrowing.

Industry members and consumer advocates gathered on Wednesday to hear officials from the Consumer Financial Protection Bureau outline their concerns about overdraft practices.

The Consumer Financial Protection Bureau's announcement Wednesday that it was targeting overdraft protection practices was a stark reminder for bankers that even if they have already made significant changes, it is likely not enough, observers warned.

The acting commissioner of the Federal Housing Administration on Wednesday blasted news reports that claim Bank of America Corp. was essentially bailing out the agency's mortgage insurance fund.

Like the mast of a sailing ship coming over the horizon, the first sign that Congress may restructure Fannie Mae and Freddie Mac has appeared.

Bankers shouldn't complain about intrusive government regulation while begging Congress to extend unlimited deposit insurance on large transaction accounts. It's disingenuous, and perhaps worse, it's dangerous politics.

The Obama Administration is pushing back against a recent news report that concluded U.S. taxpayers will subsidize the roughly $25 billion mortgage settlement.

CoBank, the largest lender in the government-backed Farm Credit System, reported record profits in 2011 as higher prices for key commodities such as corn, wheat and soy led to increased loan demand from large cooperatives and agribusinesses.

For banks, the Consumer Financial Protection Bureau's plans to take a close look at checking account overdraft fees puts a multi-billion dollar source of revenue at risk.

WASHINGTON — The Consumer Financial Protection Bureau launched an inquiry Feb. 22 into overdraft-protection practices, requesting data from a number of banks on their policies, terms and marketing of such programs.

The Consumer Financial Protection Bureau said Wednesday it plans to examine overdraft protection practices, including policies, terms and marketing of such programs, and their effect on consumers.

In a perfect world, state attorneys general and the U.S. Department of Justice would have worked hand in hand with bank regulators to fix foreclosure wrongs. But that's not how the world works.

Britton & Koontz Bank in Natchez, Miss., has been ordered by its regulator to immediately take steps to reduce the level of risk in its loan portfolio.

The Federal Housing Finance Agency offered more details Tuesday for how it plans to create a new infrastructure for the secondary mortgage market and reduce the role of Fannie Mae and Freddie Mac.

Industry lawyers were feeling confident late last year about a key case pending before the Supreme Court. But now the case has fizzled, and federal officials have issued a proposal that could hurt banks' chances of victory in the future.

Maryland lawmakers will consider a bill that would require the state treasurer to give a preference to banks with less than $5 billion of assets when doling out state banking business.

Facebook is becoming a payments contender a lot faster than it has led observers to believe. It has money transmitter licenses in at least 15 states, according to an American Banker analysis.

Reviving a dead bank is as difficult as unscrambling an egg, but executives of the former United Western Bank are still trying to put their failed thrift back together again.