Law and regulation

Sen. Sherrod Brown, D-Ohio, is pressing the Securities and Exchange Commission to revoke certain privileges from banks when they are involved in settlements or enforcement actions for illegal activity.

The Justice Department has asked Citigroup for more than $10 billion to settle a probe into the lender's sale of mortgage-backed bonds in the run up to the 2008 financial crisis, according to a person familiar with the negotiations.

Rep. Maxine Waters, R-Calif., is urging the Commodity Futures Trading Commission to examine banks' efforts to sidestep U.S. swaps trading rules.

A Consumer Financial Protection Bureau hearing meant to get feedback on mobile banking technology took a sharp turn Thursday when a majority of the audience offered complaints about payday lenders instead.

Sen. Lindsay Graham questioned payments to a senior advisor of Shaun Donovan, who currently heads the Department of Housing and Urban Development and has been nominated to lead the Office of Management and Budget.

The Federal Reserve Board on Thursday proposed changes to the capital planning and stress testing process, including giving banks an additional three months to undertake the effort.

The Senate confirmed three officials to the Federal Reserve Board Thursday, filling several key holes at the agency's helm.

Mary Miller, the Treasury Department official who led implementation of new financial regulations including the Volcker rule, is leaving the department in early September.

Rep. Jeb Hensarling, R-Texas, chairman of the House Financial Services Committee, has announced that he will not run for majority leader to replace Rep. Eric Cantor.

A down payment remains a high hurdle for consumers seeking mortgages. Lowering this hurdle increasingly seems in line with industry and regulatory goals-assuming borrowers don't default. There's the rub.

HSBC Chairman Douglas Flint had some advice for bank executives meeting in London last week: Read up on how the U.S. uses financial warfare against its enemies in a foreign-policy shift that's entangling lenders.

A new trade group is making an effort to educate veterans about the lesser-known, low-down-payment, government-backed loan program, while the Department of Veterans Affairs works to clarify rules and recruit appraisers.

The House Financial Services Committee approved a series of bills on Wednesday, including several key changes to the Consumer Financial Protection Bureau and the Financial Stability Oversight Council.

The Consumer Financial Protection Bureau Wednesday said it will take a harder look into mobile financial services to see the potential for consumer harm and determine the impact on the underbanked.

Majority Leader Eric Cantor's stunning defeat in Virginia's Republican primary Tuesday evening could usher in a new political era for the House — one that's likely to leave its imprint on the banking industry.

The Office of the Comptroller of the Currency said Tuesday it has named Jennifer Kelly chief national examiner.

The Consumer Financial Protection Bureau is taking longer than expected to issue rules on financial products like prepaid cards, payday loans, and student loans but Director Richard Cordray sought to reassure lawmakers Tuesday the agency would address many of those areas within the year.

The Massachusetts attorney general's lawsuit against Fannie Mae and Freddie Mac seeks to aid a nonprofit whose CEO has close political ties to Martha Coakley's gubernatorial campaign.

The Federal Deposit Insurance Corp.'s outspoken vice chairman told bankers that curbing the "misdeeds" that prompted higher regulatory burden is better than just seeking exemptions for some.

Rep. Darrell Issa, R-Calif., chairman of the House Oversight and Government Reform Committee, is requesting additional information from the Federal Deposit Insurance Corporation about its involvement in Operation Choke Point.