Taxpayers and the federal government would be among the biggest losers if officials heed calls from some legislators and homeowners rights groups to stop millions of foreclosures across the country because of possible paperwork problems.
Federal regulators are insisting that banks share some risk when issuing the type of asset-backed securities that nearly toppled the financial system two years ago.
Federal Reserve Chairman Ben Bernanke told a panel investigating the financial crisis that regulators must be ready to shutter the largest institutions if they threaten to bring down the financial system.
A lull in loan defaults this spring enabled the nation's banks to post their biggest quarterly industry profit in nearly three years, the Federal Deposit Insurance Corp. reported Tuesday.
The U.S. Office of Government Ethics is warning federal agencies against retroactively waiving ethics rules for federal employees who've taken actions that pose potential conflicts of interest.
Sheila Bair logged onto her e-mail account recently and got a pop-up ad offering a $175,000 home loan with monthly payments of only $400.
The Wall Street brainiacs are panicked about sub-prime mortgages and the current stock market correction. But Main Street investors — with their plentiful incomes and longer-term stock market horizons — may ultimately bail them out.