Vice President Mike Pence's chief economist, Mark Calabria, is a leading candidate to replace Federal Housing Finance Agency Director Mel Watt, a Barack Obama appointee who has led the regulator since President Donald Trump took office.
The potential $1 billion fine would be largest ever imposed by the Office of the Comptroller of the Currency, the bank's main national regulator, and the Consumer Financial Protection Bureau, the federal watchdog bureau.
Though widely expected to raise rates this week, Fed policy makers are being pulled in two directions by a spirited drop in unemployment this year and a surprisingly listless reaction in wages and prices.
A Dallas mortgage company accuses Carmel banker Michael Petrie of launching a "delberate and vindicative campaign" to try to drive it out of business. But a separate lawsuit against the Dallas firm tells a different story.