Law and regulation

Sen. Elizabeth Warren is urging regulators to disclose the extent of their efforts to pursue cases against individuals and institutions, highlighting the work of the Special Inspector General of the Troubled Asset Relief Program.

Comptroller Thomas Curry’s 'heightened expectations' for large banks should include whether our communities are substantially better off as a result of their presence.

Diebold, a maker of ATMs and bank security systems, agreed to pay more than $48 million to settle allegations by the U.S. that it bribed officials in Russia, China and Indonesia.

A Treasury Department fund meant to boost loans to small businesses has spurred more than $10 billion in additional lending, the agency said Tuesday.

Diebold Inc., a maker of ATMs and bank security systems, agreed to pay more than $48 million to settle allegations by the U.S. that it bribed officials in Russia, China and Indonesia.

"Lawyers for the Federal Reserve Board filed an appeal Monday against a judgment that invalidated its 2011 rule placing a cap on debit interchange fees," writes American Banker's Donna Borak.

WASHINGTON — Financial regulators said Tuesday that lenders who only make so-called qualified mortgages should not be concerned about inadvertently triggering a fair-lending violation.

Lenders will be exposed to material put-back risk unless steps are taken to set industry standards for loan origination and processing.

The two cities join New York, L.A. and other cities in trying to force the banks that hold municipal deposits to make more loans in low-income neighborhoods. Some industry officials oppose them, while others welcome them.

Blacks and Hispanics are likely to find it more difficult to obtain credit or face paying higher prices when the "qualified mortgage" rule goes fully into effect, a process that could take up to seven years.

The Federal Reserve released Bank of New York Mellon (BK) from a regulatory action requiring it to tighten up its internal controls.

Fannie Mae and Freddie Mac have tightened their 'representation and warranty' framework. Other public sector mortgage funders, including FHA, VA, and the USDA should follow suit … or risk being left with lemons.

The new qualified-mortgage rule is pressuring vendors of loan origination systems to work with lenders to re-code their systems. There's a lot of work to be done before the Jan. 10 deadline.

Many payments companies see a conflict between innovation and regulation, with each side perceiving the other as out of touch with their needs, particularly when it comes to new technology.

Higher capital requirements for federal mortgage lenders, more stringent QM and QRM requirements for borrowers and a heightened reliance on private markets will help keep taxpayers from paying for future bailouts.

Bank of America, sued by U.S. attorneys in August over an $850 million mortgage bond, faces three additional Justice Department civil probes over mortgage-backed securities, according to two people with direct knowledge of the situation.

In a 113-page brief filed with the U.S. Court of Appeals, the Fed argued it had followed congressional intent in drafting the provision required under the Dodd-Frank Act, which mandated that the central bank establish how much banks can charge merchants in interchange fees for debit cards.

The Consumer Financial Protection Bureau's Director Richard Cordray said Monday that the agency has been in contact with vendors and they should be ready to comply with the qualified-mortgage rule by January.

Prudential Financial has opted not to appeal a decision made by U.S. regulators to label the firm as a risk to the financial system.

The Treasury Department wants to hire someone to help manage risks and protect against losses on federal programs, according to an internal memo.