The companies failed to warn borrowers on newly originated loans regarding the consequences of missing payments, both potential class action lawsuits filed by Rogge Dunn claim.

The chairman of Whalen Global Advisors outlines the policy agenda of home lenders' dreams for the year ahead.

The Federal Reserve has allowed more than $1 trillion of assets to roll off its balance sheet. Chair Jerome Powell says he doesn't believe reserves in the banking system are nearing a level that would cause the Fed to slow down or stop.

While mortgage assumptions are on the rise, so too are complaints leveled against mortgage servicers for how they handle the loans. A common refrain is that the companies are moving too slowly.

Internet-based banks are siphoning deposits away from urban centers in the U.S. and, unlike brick-and-mortar banks, face no requirement that they loan money back into those communities.

New and proposed capital rules for some depositories and nonbanks could change the roles the various institutions play.

The Treasury Department's Community Development Financial Institutions Fund has introduced significant updates to the CDFI certification application, aiming to simplify the process and establish clearer standards for responsible lending and community development.

A provision to standardize and clarify banks' operational risk obligations — which opponents say is excessively costly and may not be effective — is emerging as the focal point of the public debate on the broader rule. It may also be the key to taking the rule over the finish line.

The fireworks that traditionally accompany big bank CEOs' appearances in Congress were absent Wednesday, but instead executives pushed their opposition to the Basel III capital rules and its impact on the economy. 

Brokerage giants, reeling from a billion-dollar judgment against them a month ago, face another major trial next year.

The number of government-backed home loans transferred from one borrower to another is up significantly this year as prospective buyers look for ways to avoid elevated interest rates. Some say this is the beginning of a larger movement, but others say regulatory hurdles will get in the way.

Rep. Maxine Waters pressed executives from City National Bank, PNC Financial Services and Wells Fargo on opening branches in her California district and upholding promises made from recent merger agreements or consent orders.

The Federal Home Loan Bank System is a crucial element of our financial infrastructure. All stakeholders should be included in discussions about reforming it.

The Federal Reserve's vice chair for supervision said the central bank is weighing regulatory and supervisory changes to liquidity management standards. Current approaches, he said, might not be able to contend with the speed of modern runs.

During a second day of comparatively mild questioning from lawmakers in semiannual oversight hearings, Consumer Financial Protection Bureau Director Rohit Chopra said artificial intelligence could exacerbate existing weaknesses in the financial system without tighter protections.

Net income at banks fell 4.6% year over year in the third quarter, though it remained above pre-pandemic levels, according to the latest Quarterly Banking Profile. FDIC Chairman Gruenberg cautioned about deteriorating commercial real estate loans and unrealized losses on securities in a high interest rate enviroment.

The Federal Reserve's vice chair for supervision said new definitions around community development activities and the ability for banks to invest outside their immediate assessment areas could be a boon to Native Americans and their communities.

At least 400 loan officers working for Bank of America violated the requirements of the Home Mortgage Disclosure Act by failing to collect the race, ethnicity and sex of mortgage applicants and then falsely reporting that the applicants had chosen not to respond, according to the Consumer Financial Protection Bureau.

The Federal Reserve governor was one of two dissenting votes on the proposed capital changes earlier this year, but he said he would be open to backing the package if operational capital changes were made.

Financial firms claim a proposal by the Consumer Financial Protection Bureau would restrict lending, raise borrowing costs and result in more denials of credit to consumers.