The New York Times Deal Book

The $246 million fine imposed last month by the Federal Reserve on BNP Paribas of France over safety and soundness abuses may have been painful for the bank.
There is an adage that “it’s better to ask forgiveness than it is to get permission.”
Advocates for the elderly persuaded federal housing officials two years ago to offer more rights and protections to the spouse of a borrower who takes out a reverse mortgage and later dies.
A federal housing agency that sold 108,000 distressed mortgages to private equity firms and hedge funds did so without following the proper rules for setting up the program, a government audit has found.
When the government-controlled mortgage finance giant Fannie Maeagreed this year to guarantee a $1 billion financing deal for one of the biggest private-equity-backed landlords in the United States, the move prompted an outcry.
At a time when many Republicans are urging President Trump to weaken the Consumer Financial Protection Bureau, a federal judge has now upheld its authority to issue a subpoena in a housing finance investigation.
Fannie Mae, the gigantic government-sponsored mortgage service entity, has guaranteed $1 billion of debt backed by Invitation Homes, the single-family rental business owned by the giant private equity firm Blackstone.

The Supreme Court has rebuffed an effort by some of the country’s largest banks to halt several financial crisis-era lawsuits that could result in tens of billions of dollars in legal costs.

Citing Wells Fargo’s “venal abuse of its customers,” the California treasurer took the unusual step on Wednesday of suspending many of its ties with the San Francisco bank as it continues to reel from the scandal over the creation of as many as two million unauthorized bank and credit card accounts.

On a day that its shares tumbled to a record low, Deutsche Bank tried to shore up confidence among its investors on Monday, saying that it had not sought assistance from the German government on a dispute with United States authorities.