Law and regulation

The nation's attorneys general, the Department of Justice, and HUD are "very close" to finalizing a legal settlement to settle 'robosigning' allegations levied against the nation's dozen or so top ranked servicers, HUD secretary Shaun Donovan said Wednesday morning.

Richard Cordray, head of the Consumer Financial Protection Bureau, brings a different perspective to a sister agency long focused on safety and soundness.

West Virginia officials reached a $13.5 million settlement with Capital One, which allegedly used misleading advertising to attract customers before saddling them with debts.

Acting Comptroller John Walsh expressed concern Tuesday about the impact of the Volcker Rule on the competitiveness of U.S. banks internationally.

Often ignored in the current political environment, Mitt Romney gave clues to his banking positions before, during and after the financial crisis.

The Federal Reserve Board has ordered Southwest Florida Community Bancorp Inc. to maintain its health so that it can serve as a source of strength for its ailing bank subsidiary, First Community Bank of Southwest Florida in Fort Myers.

Cordray sides with other board members on FDIC stress test proposal, while also showing off his sense of humor.

The bureau is holding a hearing on payday lending this week in Birmingham, Ala. — the heart of the districts served by two of its biggest critics.

Dozens of small banks in California remain under enforcement actions, leading some industry observers to predict an impending wave of regulator-led consolidation.

If financial-services companies have any reservations about being appointed the front-line enforcers for copyright protections under proposed anti-piracy legislation, now would be their time to strike.

Wikipedia and the White House have weighed in against SOPA. If payments processors and banks don't want to be front-line enforcers of copyrights, now's the time to lobby for changes.

Citigroup's traditional banking businesses improved but could not offset a fourth-quarter revenue slump in investment banking, which Chief Executive Vikram Pandit has relied on to help revive the bank.

The key is to make sure that the homeowner is giving up something of value in return for relief of some portion of the mortgage obligation.

At its first board meeting this year, the FDIC unveiled stress test requirements for large state nonmember banks and revised its plan to require firms to file living wills.

The World Economic Forum just released its yearly report. It's a run-up to the gathering of the economic tribe at Davos later this month and lists global concerns that should be placed high on one's "worry list." Last year it was natural disasters; this year, it's income inequality. Big surprise? No. Props to Occupy Wall Street for helping put this on the Davos radar screen.

The former federal prosecutor says the confusion over the mid-sized brokerage's collapse is further evidence that its larger rivals are themselves simply too big to manage.

Two more congressmen have been identified as receiving loans through a Countrywide Financial Corp. program that has prompted a House investigation into whether the fallen mortgage giant approved loans on favorable terms to win political favor.

Considering the variety of proposals floated recently to restrict money market mutual funds, it seems people at some government agencies really want to put MMFs out of business.

Despite questions over his legal authority, the new director of the consumer bureau holds crucial voting power on safety and soundness rules as a member of the FDIC board of directors.

The digital currency Bitcoin was conceived as a rebellion against the financial establishment. But it may also present business opportunities for banks that can get comfortable with the risks.