Law and regulation

On what basis do the MMFs think that they are entitled to run a multi-trillion dollar business, in this day and age, without any capital to stand behind any mistakes they may make?

Citigroup Inc. agreed Wednesday to pay $158.3 million to settle claims that its mortgage unit improperly originated Federal Housing Administration loans, a swift reminder that the massive national mortgage deal does not insulate banks from other mortgage-related claims.

CitiMortgage has agreed to pay $158.3 million to resolve allegations by the U.S. related to the quality of loans it submitted to a government-backed mortgage insurance program.

Why community banking is crucial to the nation's long-term growth.

Consumer Financial Protection Bureau Director Richard Cordray told a House panel said the bureau intends to provide more information about its budget and expenditures going forward.

A judge has approved Bank of Hawaii's deal to pay $9 million to settle a class action involving overdraft fees.

With the recess appointment of the director of the Consumer Financial Protection Bureau, the agency is becoming even more active and issues are coming into focus. Financial institutions subject to its jurisdiction should pay attention to its Supervision and Examination Manual published in late 2011.

Deloitte & Touche LLP has named former Federal Reserve Board official Deborah Bailey to run the firm’s banking and securities regulatory practice, and added two former regulators at the Federal Deposit Insurance Corp. to its team.

The Office of the Comptroller of the Currency and the Federal Reserve Board said Wednesday they are extending the deadline for borrowers to request an independent foreclosure review under the consent orders signed by 14 mortgage servicers last April.

The San Antonio, Texas bank blasted excessive federal regulation in announcing it will replace its federal charter with a state one.

After nine months of consideration, the Fed said the merger of Capital One with ING Direct USA did not pose a systemic threat, but placed conditions on the deal to ensure the combined institution did not become one.

The Obama administration's reasons for charging banks $61 billion are disingenuous and transparently political. The tax has nothing to do with recouping Tarp costs or making the system safer.

The Federal Reserve Board's failure to announce a final decision on Capital One Financial Corp.'s $9 billion deal to buy ING Direct USA has left many observers wondering what's going on behind the scenes.

The Federal Reserve has reached a written agreement with Commerce Bancshares Inc. in Franklin, Tenn.

While the industry waits to see the final, detailed terms of the mortgage servicing settlement, officials released two documents Tuesday summarizing the highlights of the deal.

WASHINGTON – Joseph A. Smith, Jr., who will monitor the 49-state mortgage settlement with the five largest servicers, resigned Tuesday as North Carolina's bank commissioner.

The housing market continues to suffer from a painful and prolonged hangover commensurate with its worst binge in U.S. history and many politicians and Fed officials are anxious for a housing rebound to pull the rest of the economy along.

A quick look at policies, fee revenues and agency budgets in the administration's 2013 proposal - and how it all affects banks.

The Department of Housing and Urban Development has withdrawn a proposed rule that would have allowed government-backed Farm Credit System lenders to make more home loans.

President Obama announced Monday a doubling of a proposed tax on big banks to $61 billion. For the White House, the political appeal is obvious but the proposal itself appears highly unlikely to ever become law.