Regulatory & Compliance

Industrial giant General Motors Corp. today requested court approval to enter bankruptcy.

Financial institutions that originate mortgages must submit background information and fingerprints for the licensing of loan originators, under proposed rules issued by NCUA and five other regulatory agencies.

The government should have an independent systemic regulator but not combine the existing bank regulators into one agency, ABA President Edward L. Yingling wrote Treasury Secretary Timothy Geithner.

A 30-year, fixed-rate mortgage averaged 4.87% last month, according to data released today by the Federal Housing Finance Agency.

To date, $1.2 billion has been collected for victims of the $50 billion Bernard Madoff investment scam, including a $235 million settlement from one of the firms that did business with him.

Texas will keep its independent credit union regulator.