Enforcement

In an election year dominated by controversy and big personalities, political contributions from the mortgage industry have remained muted, reflecting apathy and uncertainty toward Hillary Clinton and Donald Trump.

BancorpSouth in Tupelo, Miss., reported higher third-quarter earnings after net interest and fee revenue improved from a year earlier.

The Consumer Financial Protection Bureau decried an appeals court ruling last week that found its single-director structure unconstitutional, saying the opinion was "wrongly decided" and had "no basis in the text of the Constitution or in Supreme Court case law."

Franklin Codel, Wells Fargo's head of mortgage, will now oversee all consumer lending as part of a management shakeup that comes amid the bank's fake account scandal.

Companies weighing whether to reopen past settlements with the Consumer Financial Protection Bureau after a federal appeals court limited the agency's powers may want to think twice, according to industry experts.

Servicers have long skimped on technology investment, leaving legacy systems that can't keep pace with compliance demands. But rising costs and a new round of regulations are compelling both servicers and vendors to finally address these deficiencies.

The ramifications for a U.S. Court of Appeals decision against the CFPB’s constitutionality go far beyond just the agency’s independence, and may have consequences for other federal agencies with similar structures. The ruling may also hamper the CFPB's powers going forward, including its ability to retroactively apply new rules.

Navy Federal Credit Union, the largest credit union in the country, agreed Tuesday to pay $28.5 million to settle regulatory allegations it engaged in illegal debt collection practices.

Talk show hosts have had a field day with the Wells Fargo phony-accounts scandal, underscoring just how much it has hurt the bank's reputation.

The bank's fake account scandal is further reason to make the results of Wells' 2012 Community Reinvestment Act exam public.