Law and regulation

Senate Banking members examined concerns about alternative lending products such as payday loans on Wednesday, though consensus on what, if any, changes are needed to the industry remains elusive.

With more reliable loan data, Fannie Mae and Freddie Mac would have greater confidence that borrowers would not default. In return, lenders would receive a juicy carrot: fewer buyback requests.

WASHINGTON — Several officials from the Consumer Financial Protection Bureau are being called to testify before a House subcommittee next week on recent allegations that employees were being mistreated.

Payday lenders told the Consumer Financial Protection Bureau on Tuesday that they will accept new regulation so long as it does not "cripple" the industry and credit availability.

The U.S. government will treat Bitcoin as property for tax purposes, applying rules it uses to govern stocks and barter transactions, the Internal Revenue Service said in its first substantive ruling on the issue.

The top five U.S. financial institutions benefited from a funding advantage in key markets prior to the enactment of regulatory reform, according to a study released Tuesday by economists at the Federal Reserve Bank of New York.

The U.S. government will treat Bitcoin as property for tax purposes, applying rules it uses to govern stocks and barter transactions, the Internal Revenue Service said in its first substantive ruling on the issue.

The Federal Reserve's suggestion that bank assets rise in recessions, though supported by data, paints an incomplete picture. Stress ultimately causes bank assets to decline, but with a considerable time lag.

Sen. Heidi Heitkamp is striking an optimistic tone for mortgage finance reform, saying she's hopeful that a Senate Banking Committee plan to overhaul the market could make it to the chamber floor for a vote this year.

Instead of tasking one team with developing new products, give everyone – from senior management to tellers – permission to innovate continuously. Tapping those with firsthand experience of what works and what doesn't on a day-to-day basis can spur big changes.

The agency released new research that suggests it’s likely to restrict the frequency with which consumers can take out payday loans.

Edward DeMarco will step down from the Federal Housing Finance Agency nearly five years after becoming its acting director.

Federal banking regulators issued a proposal that would establish standards for states that register and track appraisal management companies.

With more young adults making large student loan payments instead of saving up for a down payment, combined with car payments and possibly credit card debt, the 43% DTI becomes a very difficult barrier for lenders working within the QM standards.

Yellen rethinks having the Fed vote on enforcement actions, after Warren presses.

As credit union leaders visit D.C., banks unleash a big campaign opposing their federal tax exemption.

There's drama to come as regulators finalize a proposal requiring banks to self-assess their track records on diversity.

The Consumer Financial Protection Bureau released a report Friday to employees detailing its diversity statistics and the racial disparities in performance evaluations reported two weeks ago by American Banker.

The Federal Reserve Board revised its findings to the closely watched Dodd-Frank Act stress tests on Friday, citing inconsistencies in the treatment of some figures during its calculations.

Housing and lending groups are urging the government sponsored enterprise regulator and conservator to keep the Fannie Mae and Freddie Mac loan limits where they are for now.