The city of Oakland, California, has filed a lawsuit against Wells Fargo accusing the bank of reverse redlining by targeting minorities for high-cost mortgage loans which later led to foreclosures and blight when the borrowers defaulted.

Two former Fannie Mae executives have agreed to settle with the Securities and Exchange Commission to resolve claims of fraud regarding Fannie Mae's subprime exposure before the financial crisis, according to media reports.

Hensarling went on to say that Dodd-Frank exemplifies the "insidious belief" among those in Washington that the American people cannot be trusted to make financial decisions, so Washington must do it for them.

Representatives from Auction.com and Operation Homefront were on hand at the 2015 Five Star Conference in Dallas on Thursday night to assist Five Star President and CEO Ed Delgado with the donation of six mortgage-free homes to wounded veterans as part of the Military Heroes Keys for Life Event.

The Federal Reserve decided on Thursday to keep the federal funds target rate at zero to 1/4 percent, where it has been for nine years, at the September meeting of the Federal Open Market Committee.

"In determining how long to maintain this target range, the Committee will assess progress—both realized and expected—toward its objectives of maximum employment and 2 percent inflation," the Fed said in a statement.

When the panel of four experts debated whether the current single-family rental market is a "bubble" or is here to stay and the question was put to them by Tim Herriage, the lab's director, three of the four experts answered that it was here to stay. That is, three out of four experts believe that investors will be able to sustain the single-family rental market enough to avoid a housing crisis like the one in 2008.

Opportunities exist to enhance the management controls over the Consumer Financial Protection Bureau's controversial Consumer Complaint Database, according to a recent audit from the Office of the Inspector General for both the Federal Reserve and the CFPB.

The private-label residential mortgage-backed securities market has remained stagnant since the financial crisis, even though securitization in many asset classes has resumed.

The U.S. Department of Justice issued a memo on Thursday containing new guidelines stating that it will pursue the prosecution of individual employees, and not just their companies, for their role in precipitating the financial crisis in 2008.