Law and regulation

WASHINGTON — While all eyes were on the recess appointment of its first director Wednesday, the Consumer Financial Protection Bureau quietly released guidance that directs supervised banks to turn over any and all information it requests.

When President Obama installed Richard Cordray as director of the CFPB through a recess appointment Wednesday, he set the stage for a legal showdown over the bureau's authority that could take years to resolve.

Presidential elections historically turn on the condition of the economy, and economic recovery has historically relied on a housing market recovery.

Although doing so carries legal risks for the Consumer Financial Protection Bureau, President Barack Obama's decision to recess appoint Richard Cordray to head the new agency was all about politics.

Howard Bluver's prior stints at the SEC and the OTS should prove helpful to Suffolk Bancorp as it looks to exit a formal agreement with the OCC.

The Federal Deposit Insurance Corp. has ordered seven ailing community banks to raise fresh capital and directed three others with elevated loan losses to submit written plans for raising capital should credit quality weaken further.

President Obama's decision to call an end-around and avoid opposition to his consumer bureau director runs a serious risk of backfiring.

Payment innovation quickened its pace from technology to strategic partnerships last year, setting the stage for some dominant trends in 2012.

As the number of bank failures declines, the FDIC must cope with both 800 remaining problem banks and the risks posed by a future crisis.

President Obama on Wednesday appointed Richard Cordray as the first director of the Consumer Financial Protection Bureau through a recess appointment, dismissing efforts by Republicans to prevent such a move.

Despite improvements in the job market and low mortgage rates, Federal Reserve officials seem disappointed that their efforts to perk up housing are having little impact, according to minutes of the central bank's December monetary policy committee meeting.

Senate Minority Leader Mitch McConnell on Wednesday sharply denounced President Obama's recess appointment of Richard Cordray to head the Consumer Financial Protection Bureau.

Kevin Kabat believes Fifth Third Bancorp can boost lending this year, somewhat offsetting low interest rates. He’d like to pursue acquisitions, though he admits that M&A activity may underwhelm again in 2012.

If Yaron Brook, the president of the Ayn Rand Institute, had his way, the next U.S. president would be former BB&T Corp. Chief Executive John Allison.

President Barack Obama is expected to announce Wednesday that he will recess appoint Richard Cordray to serve as director of the Consumer Financial Protection Bureau, bypassing Senate Republicans who had blocked the nomination.

President Barack Obama is expected to announce Wednesday that he will recess appoint Richard Cordray to serve as director of the Consumer Financial Protection Bureau, bypassing Senate Republicans who had blocked the nomination.

The credit card industry's total revenue fell to $154.9 billion in 2011, as borrowing grew sluggishly and issuers struggled to overcome regulatory restrictions, according to advisory firm R.K. Hammer.

President Obama's recess appointment of Richard Cordray to head of the CFPB will actually do more harm to the fledgling agency than good.

A number of analysts and attorneys are convinced that smaller banks will feel the effects of new rules associated with the Dodd-Frank Act.

The Federal Reserve Board and the Office of the Comptroller of the Currency issued announcements with respect to the mortgage consent orders stating that consumers who believe they were financially harmed during the mortgage foreclosure process by specific financial institutions in 2009 and 2010 can potentially receive compensation.