Law and regulation

The FDIC tries to stay clear of being the agency that closes a bank's doors. But working behind the scenes to guard its insurance fund, the agency is often significantly involved in the decision of when to fail an institution.

The industry needs to find its way to a future in which the president isn't complaining and the Wall Street occupiers go home and disenchanted customers are content.

Lawsuits citing Fair Debt Collection Practices Act (FDCPA) violations were poised to hit 10,000 early this month after reaching 9,425 through Oct. 15, according to data from U.S. District Courts. Last year, the 10,000 mark for FDCPA lawsuits was not reached until Dec. 1.

WASHINGTON–U.S. Sen. Dick Durbin is working behind the scenes on a new effort to ensure small banks are not being hurt by the cap on debit card interchange.

Sen. Dick Durbin is working behind the scenes on a new effort to ensure that small banks are not being hurt by the cap on debit interchange fees.

On the same day that Bank of America Corp. bowed to pressure and decided to nix a $5 monthly debit fee it had planned to impose next year, a consumer financial-literacy organization released data suggesting the fee would have disastrous results.

Bank of New York Mellon Corp. the trustee that reached an $8.5 billion settlement for investors with Bank of America Corp., is requesting an appeal on a ruling that put the settlement in federal court.

U.S. prosecutors sued Houston-based home-lender Allied Home Mortgage Capital Corp. and two executives for alleged fraudulent lending practices related to hundreds of millions of dollars in government-backed mortgages.

The foreclosure review process mandated by a federal consent order is turning out to be far more punitive and costly than banks and mortgage servicers initially thought, industry sources say.

Months after a phishing attack struck RSA Security's passcode-generating tokens and thus exposed the nation's leading banks to security threats this spring, more than a third of top banks are standing by RSA's product.

Kansas City Fed retiree Tom Hoenig sees better oversight and a decline of SIFI's as the key to a strong financial industry.

The FDIC and Federal Reserve banks are revamping procedures to meet new legislative and regulatory demands.

Maryland regulators have suspended the collection licenses of LVNV Funding LLC and Resurgent Capital Services and ordered them to stop collecting from consumers in the state.

The FDIC has filed a lawsuit against former directors and executives at the failed Mutual Bank, claiming, among other things, that $250,000 was spent on a lavish wedding that management detailed as a bank function.

A watchdog agency said Monday the Federal Reserve Board could have done more to document the basis for its 2008 bailout of insurance giant American International Group Inc.

Fannie Mae Monday morning confirmed to National Mortgage News that its multifamily unit is the subject of an Inspector General probe being conducted by the Federal Housing Finance Agency.

Although they will not be supervised by the Consumer Financial Protection Bureau, executives of small financial institutions told a congressional panel Monday they remain uneasy about the effect the bureau will have on their businesses.

The debit card fee dominoes are falling, leaving Bank of America Corp. increasingly alone in its controversial effort to make customers pay for using their debit cards.

The debit-card fee dominoes are falling, leaving Bank of America Corp. increasingly alone in its controversial efforts to make customers pay for using their debit cards.

The Republican presidential contenders have begun to coalesce around a rough consensus on financial issues, which rejects not only the record of the Obama administration, but also some key accomplishments of George W. Bush's administration.