Law and regulation

William Dudley, head of the Federal Reserve Bank of New York, has been elected chairman of the Economic Club of New York.

WASHINGTON — Regulators on Friday closed Freedom State Bank, in Freedom, Okla., the 12th institution to fail this year.

Banks would get protection from the Justice Department's investigation of mass-market consumer fraud under legislation sponsored by Rep. Blaine Luetkemeyer, R-Mo.

Community-sized institutions with cybersecurity gaps are facing new attention from regulators under a pilot exam project.

Bitcoin and other digital currencies will get more attention from the U.S. Consumer Financial Protection Bureau after prodding from a congressional watchdog.

A diverse group including troubled borrowers, low-income renters, mortgage-bond issuers and investors in those bonds will get a boost from new Treasury efforts to keep capital flowing in the mortgage market.

Bitcoin and other digital currencies will get more attention from the U.S. Consumer Financial Protection Bureau after prodding from a congressional watchdog.

WASHINGTON — The Consumer Financial Protection Bureau issued a statement Thursday saying a Supreme Court decision issued earlier that day involving presidential recess appointments did not have any impact on the agency's previous rulemakings.

The latest Pew report shows consumers are still in the dark on overdraft fees, and it says that they pay too much when they have insufficient funds. The advocacy group is again calling for more regulatory reforms.

WASHINGTON — The number of home retention actions taken by the largest banks in the first quarter was more than three times the amount of completed foreclosures, short sales and deed-in-lieu-of-foreclosure, according to a regulatory report released Thursday.

Friends of Traditional Banking, has released its preliminary list of 2014 races to watch.

A bill to clarify the Federal Reserve's authority around new capital rules is winding its way through Congress, paving the way for what could be a broader push for changes to the Dodd-Frank Act next year.

The Clearing House said Thursday that it has promoted Jeremy Newell to serve as general counsel of the trade group, which represents some of the largest financial institutions.

Ten years after the adoption of Basel II, the distortion in bank credit allocation produced by risk-weighted capital requirements has not even begun to be discussed.

The Federal Reserve said Regions Bank will pay a $46 million misconduct penalty for incorrectly identifying and reporting nonperforming loans and that three former employees will be sanctioned while avoiding prosecution.

The Senate Banking Committee approved Julian Castro, the mayor of San Antonio, on Wednesday to head the Department of Housing and Urban Development.

The House Financial Services Committee remains divided, largely along party lines, over whether to renew the charter of the Export-Import Bank of the United States.

An Office of the Comptroller of the Currency emerging risk report said underwriting for indirect auto and leveraged loans is cause for concern.

Sen. Thad Cochran, R-Miss., won a key primary runoff contest Tuesday night, securing the likelihood that Sen. Richard Shelby, R-Ala., will resume his chairmanship of the Banking Committee if Republicans take control of the Senate.

The regulator of Fannie Mae and Freddie Mac (FMCC) will conduct a series of town-hall events to convince hundreds of thousands of U.S. borrowers with little or no equity in their homes to refinance.