Topic: Office of the Comptroller of the Currency

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JP Morgan loss: Did US regulators know what CEO Jamie Dimon apparently didn't? (+video)

Federal regulators embedded at JP Morgan are supposed to get the reports that CEO Jamie Dimon gets. But in the case of JP Morgan's $2 billion loss, that might not have been much help.
Checking account fees: too expensive for poor?

Checking account fees at big banks rising to $10 or more per month. Without large balances or computer access to eliminate checking account fees, poor could move to smaller institutions or out of banking system altogether.
Mortgage lenders must pay homeowners for improper foreclosures

Mortgage lenders ordered to reimburse customers they foreclosed on improperly. Regulators tell 16 mortgage lenders to hire auditors to find out who could have avoided foreclosure in 2009 and 2010.
Robert Reich
How long will Wall Street stay in America?

Bankers warn lawmakers that regulation will drive them overseas — and then warn overseas regulators that too much oversight will drive them to America. They're playing everyone against each other in a global race to the bottom.
Mortgage modifications improving with time

Mortgage modifications in 2010 have only 1 in 10 borrowers were seriously delinquent, down from 3 in 10 in 2008.
Financial reform bill 101: How it boosts Wall Street oversight

The financial reform bill passed Thursday by the Senate would create a council of financial watchmen who would act as an early warning system for market trouble.
The Daily Reckoning
Misguided regulations caused the financial mess

Did regulations intended to improve the operations of banks unintentionally cause the financial crisis?
Home mortgage foreclosures rise in third quarter

Home mortgage foreclosures and delinquencies were up in the third quarter despite greater efforts to help homeowners. Defaults on modified loans were also high.
Obama's five-prong plan to oversee financial industry

The Federal Reserve would take on new responsibilities for monitoring risks, and a new agency would be created to enforce consumer safety in financial products.
Fed releases 'stress-test' criteria

Bank stocks rose Friday, but some question whether the evaluation of the nation’s major banks is tough enough.
Have banks turned a corner?

The improved earnings reports of recent days are welcome news, but a rising tide of loan losses still threaten the industry.
Just how vulnerable are US banks?

A 'stress test' aims to assess which banks would need help if the economy worsened.
Some relief may be in sight for troubled US mortgages

As more than 5 million Americans fall behind on mortgages, banks signal a new willingness to reduce the principal.
Paulson crafts his new role

In essence, Congress is telling him to create his own financial recovery plan.
Dow's historic drop reflects financial system's challenges

After 778-point plunge, markets need private investment and bank restructuring for a recovery.
Time for new financial system safeguards?

Fed Chairman Ben Bernanke and Treasury Secretary Henry Paulson indicate need for new regulation of banking industry.
Has the credit crunch hit your home equity line?

Lenders are shrinking these lines of credit, making it harder for Americans to finance major expenses.
Bernanke and Paulson: economy's two key crisis managers

The Fed chairman and the Treasury secretary face tough scrutiny as policymakers.