Bryan Hubbard

Wells Fargo Leads Bank Foreclosure Halt After OCC Guidance

Wells Fargo & Co., the biggest U.S. home lender, halted some foreclosure sales until it can understand new federal guidelines on seizures sent to the nation’s large and mid-sized banks.

Fed Says New Mortgage Settlement Checks to Be Sent Next Week

The Federal Reserve said some mortgage borrowers who were insufficiently paid as part of a settlement will be sent supplemental checks next week.

JPMorgan Hid Trades Banned by Volcker Rule, Senate Probe Finds

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.

OCC Says Almost 500,000 Seek Reviews of Foreclosures

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.

JPMorgan’s Trades Probed by U.S. National Bank Agency After Loss

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.

Non-Bank Supervision, Lloyds, Mortgages: Compliance

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.

Review of Botched U.S. Foreclosures Beset by Missteps, GAO Says

A $2 billion search for U.S. foreclosure errors was hampered by poor planning from the regulators who demanded it, according to a review by the Government Accountability Office.

JPMorgan’s Specific Trades Weren’t Monitored

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.

Naked CDSs, Small Company Exchange, SNS: Compliance

U.K. Chancellor of the Exchequer George Osborne said for the first time regulators will get the power to break up banks, hardening legislation aimed at making lenders safer. He will also open up industry payment systems.

Goldman Sachs Said to Be Part of Fed-Led Foreclosure Deal

Goldman Sachs Group Inc., Morgan Stanley and two other banks may agree as soon as this week to settle claims over botched foreclosures in an accord similar to one reached with 10 other loan servicers, two people briefed on the discussions said.

"The OCC did not direct a slowdown or pausing."

- Bryan Hubbard on May 17, 2013

Jamie Dimon

Washington

London

Federal Reserve

N. Korea Test-Fires 3 Missiles as U.S. Sees More Isolation

Commuter Train Wreck Injures Dozens, Curbs Amtrak Service

Tesla’s Musk Channels Iacocca With Early U.S. Repayment

U.S. Stocks Advance on Leading Indicators, Sentiment Data

McDonald’s Seen Overhauling U.S. Menu From 145 Choices