Law and regulation

In 1982, in the height of the first savings and loan crisis, the Federal Savings and Loan Insurance Corporation announced a new policy that would seek to hold those responsible — particularly directors and officers — for losses ultimately suffered by the FSLIC in resolving their failed institutions.

Although the push to confirm Richard Cordray to the Consumer Financial Protection Bureau failed, Democrats appear to gaining political ground and successfully portraying Republicans as too tied to Wall Street.

The MF Global collapse provides an important lesson concerning the effectiveness of the principal or proprietary banking model.

Despite new limits on debit card interchange, the price of Slurpees has stubbornly remained the same, according to a survey completed by the payments industry’s lobbying group.

The payments industry's lobbying group is touting its findings that some merchant opponents have not lowered prices since the debit card swipe fee caps went into effect.

When a Chicago man fell behind on his car payments, he claims in a new lawsuit that his lender tried to ruin his marriage by leaving a phone message mentioning his girlfriend.

The result sets up the possibility of a recess appointment by President Obama or a series of additional Senate votes on Cordray in 2012.

WASHINGTON–Key congressional backers of a 2009 law that strengthened consumer protections for credit card users are now concerned that the Federal Reserve Board has gone too far with regulations that could restrict credit to stay-at-home mothers.

WASHINGTON — Key congressional backers of a 2009 law that strengthened consumer protections for credit-card users are now concerned that the Federal Reserve Board has gone too far with regulations that could restrict credit to stay-at-home mothers.

Massachusetts Attorney General Martha Coakley, who last week filed a lawsuit against Ally Financial alleging that the firm pursued foreclosures illegally, is now asking Congress to investigate the firm's conduct.

The Treasury Department on Wednesday said it may permanently reduce incentive payments for JPMorgan Chase unless it makes much-needed improvements to its performance in the Home Affordable Modification Program.

JPMorgan Chase & Co. Chief Executive Jamie Dimon continued to bash global banking regulations Wednesday, while at the same time vigorously defending his own bank's capital and business positions, including increasing exposure to Europe's stressed countries.

Federal bank regulators moved ahead with an effort required under Dodd-Frank to reduce reliance on credit ratings in assessing risk on bank's trading books.

On the eve of a key Senate vote on the nomination of Richard Cordray to head the Consumer Financial Protection Bureau, Democratic supporters sought to turn up the heat on their entrenched Republican colleagues.

The Financial Stability Oversight Council, the newest, largest, and surely the most unusual multi-member agency ever to be created by Congress, has begun its work. Comprised of ten voting members — the secretary of the Treasury, the chairman of the Federal Reserve Board, the heads of the independent financial regulatory agencies, and a presidential appointee with insurance expertise — and five "advisory" nonvoting members, the FSOC has been given the mission, broadly stated, of protecting the financial stability of the United States.

Lower failure activity drives spending decline, but agency adds resources for Dodd-Frank implementation.

The Consumer Financial Protection Bureau released a prototype for a shorter, easier-to-understand credit card agreement on Wednesday as part of its ongoing effort to improve disclosures for financial products.

Over the last five years, the KBW index of 24 large-cap bank stocks is down 61% while the S&P 500 has been flat. Year to date, BKX has lost 24% while the S&P has gained 0.3%. This disparity between banks and the broader market isn't just about performance.

Bank of America will pay $315 million to settle investors' claims that they were duped about mortgage-backed investments sold by its Merrill Lynch unit.

Back in May of 2007 my company started working on a documentary, "Foreclosure Diaries," detailing a crisis that was only beginning to make itself felt. We spent time in what was then the epicenter of the foreclosure crisis; a devastated neighborhood in Cleveland known as Slavic Village. Stripped bare of habitable housing, this once bustling blue collar area was an eerie tableaux of vacant, ramshackle homes; allowed to deteriorate by outside investors who had bought and sold foreclosures, en masse, aiming to profit from a quick flip to other sets of investors; all to feed the endless appetite of Wall Street's securitization magog.