Compliance

In a letter Monday to Comptroller Thomas Curry, Sens. Sherrod Brown, D-Ohio, and Jeff Merkley, D-Ore., registered their strong opposition to the concept of the charter, which would allow certain types of fintech companies to avoid state licensing requirements by obtaining a limited-purpose national bank charter.

HSBC was fined $32.5 million for failing to comply with a 2011 consent order that directed the bank to revamp its mortgage servicing and foreclosure practices.

The Federal Housing Administration is cutting its annual mortgage insurance premium by 25 basis points, lowering it to 60 basis points starting Jan. 27, the agency said Monday.

The Department of Housing and Urban Development has charged Bank of America with discriminating against prospective Hispanic mortgage borrowers at a branch in Charleston, S.C.

The House Financial Services Committee will see a shuffling of deck chairs among the leadership of its subcommittees in the new Congress as it also welcomes 10 new Republican members.

Ohio has prohibited the use of plywood to board up certain vacant or abandoned properties in foreclosure.

Initiatives aimed at a more inclusive credit box have long relied on costly approaches that are difficult to scale. Now, demographic shifts are intensifying industry demand for a more automated and efficient solution.

The Senate Banking Committee is scheduled to hold a hearing Jan. 12 on the nomination of Dr. Ben Carson as Secretary of the Department of Housing and Urban Development.

Former Jefferies LLC managing director Jesse Litvak "lied to his customers" about the prices of mortgage-backed securities, a prosecutor told jurors as the U.S tries for a second time to win a conviction that sticks.

A California consumer group has urged the Senate Finance Committee to delay an upcoming nomination hearing into Treasury Secretary-designate Steven Mnuchin after a leaked 2013 memo described alleged illegal foreclosure practices at OneWest Bank when he was chairman and CEO.