The Community Financial Services Association of America, the main payday lending trade group, sued U.S. banking regulators, accusing them of applying “back room pressure” on banks to stop serving the group’s members.
The Office of Comptroller of the Currency said yesterday that it is examining JPMorgan Chase & Co.’s activities and evaluating their transactions following a $2 billion loss that shook up bank leadership.
After a deadline-inspired surge, nearly 500,000 borrowers are seeking formal reviews of their 2009 and 2010 foreclosures for mistakes by lenders, the U.S. Office of the Comptroller of the Currency reported.
As the rest of the housing industry recovers, a little-known firm with a key role in U.S. mortgage finance remains stuck in limbo, wrestling with regulators, lawsuits and the departures of senior employees.
U.S. financial regulators are looking at specific non-bank financial companies to possibly designate them as systemically important and subject to more rigorous supervision, said Michael Gibson, director of the Division of Banking Supervision and Regulation at the Federal Reserve Board.
JPMorgan Chase & Co.’s individual trades that led to a $2 billion loss weren’t monitored by the Office of the Comptroller of the Currency, which said it didn’t expect to be notified about the positions.
U.S. agencies trying to ensure the financial system is strong enough to withstand another crisis have settled on one of the last pieces of their regulatory apparatus to limit the size of bank debt, according to two people briefed on the discussions.
Isabel Santamaria thought she finally caught a break in her effort to save her Florida home from foreclosure after nine frustrating months: She reached Bank of America Corp.’s Office of the CEO and President.
Financial regulators in the U.S. are considering clarifications to their leveraged-loan guidelines to ensure banks are interpreting them correctly in order to limit risky lending, according to four people with knowledge of the matter.
JPMorgan Chase & Co. engaged in high-risk proprietary trading under the guise of ordinary hedging, said Senate investigators, who urged U.S. regulators to strengthen the proposed ban on such trades known as the Volcker rule.