Organization Root Tag

The banking industry and consumer advocates praised the Financial Stability Oversight Council's move to reinvigorate its authority to regulate nonbanks. But that effort is going to take time and is guaranteed to face political headwinds.

The Consumer Financial Protection Bureau said it is still working to notify consumers about the Feb. 14 breach in which a bank examiner sent personal information on 256,000 consumers and supervisory information on 45 institutions to his email.

In an amicus brief, the trade group voiced concern over a statement recently provided by government agencies in a lawsuit involving loanDepot.

Prosecutors claim every dollar in subsidy funds from settlements equates to ten times the amount in value in home lending efforts.

The moves include switching a $300 million servicing rights facility from failed depository Signature Bank to Flagstar Bank.

The Financial Stability Oversight Council issued a pair of proposals that would enhance transparency into how the council designated nonbank firms and activities as systemically risky and simplify its process for designations.

The Charlotte, North Carolina, company plans to fold the online consumer lending platform LightStream into its broader consumer business. On top of a recent pullback in bond trading, it may also make further reductions in its mortgage business and occupied real estate.

Home loan applications dropped for the second time in three weeks, with the 30-year conforming interest rate ticking up 13 basis points, according to data from the Mortgage Bankers Association.

Mortgage lender's brokerage spinoff launches with more than 50 carriers.

A federal judge recently gave the go-ahead to the lawsuit from the larger company against its smaller competitor.