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Incoming PayPal CEO: Open to partnerships  

Ahead of its split from eBay, PayPal has hired a new CEO. CNBC's Josh Lipton spoke with incoming CEO Dan Schulman about competitors and the explosion in digital payments.
Source: CNBC.com
U.S. housing finance firms set non-bank lender liquidity rules

Non-bank lenders and loan servicers will need to do so as of Dec. 31 to work with Fannie Mae and Freddie Mac, which provide the capital for most new U.S. mortgages. Taxpayers bailed out Fannie Mae and Freddie Mac in 2008 during a severe recession and housing market implosion, and the new rules aim to limit the companies' exposure to under-capitalized counterparties.
Source: Reuters
UPDATE 1-Nomura, RBS must pay $806 mln in mortgage bond case-U.S. judge

NEW YORK, May 15- A U.S. judge on Friday ordered Nomura Holdings Inc and Royal Bank of Scotland Group Plc to pay a collective $806 million for making false statements in selling mortgage-backed securities to Fannie Mae and Freddie Mac. Under the order, Fannie Mae will receive $26.6 million while Freddie Mac will be paid $779.4 million by the two firms.
Source: Reuters | By: Nate Raymond
Nomura, RBS must pay $806 mln in mortgage bond case-U.S. judge

NEW YORK, May 15- A U.S. judge on Friday ordered Nomura Holdings Inc and Royal Bank of Scotland Group Plc to pay a collective $806 million for making false statements in selling mortgage-backed securities to Fannie Mae and Freddie Mac.
Source: Reuters
Chase buying $45B in mortgage loan service rights from Ocwen

NEW YORK- JPMorgan Chase said Thursday that it will buy $45 billion in mortgage-servicing right from Ocwen Financial as the subprime mortgage servicer continues to sell off assets. Ocwen Financial Corp. is one of the largest mortgage service companies in the U.S. More recently it reached additional settlements with regulators in New York and California.
Source: The Associated Press
UPDATE 3-Republican bill targets post-crisis Fed, bank rules as Democrats resist

Senate Banking Committee chairman Richard Shelby of Alabama published long-awaited details of the Financial Regulatory Improvement Act of 2015, listing proposals that would lighten compliance burdens for small financial firms and enforce more transparency at the central bank and the financial stability council. But the committee's top Democrat,...
Source: Reuters | By: Michael Flaherty
Nomura, RBS face $805 million damages after U.S. ruling -lawyer

NEW YORK, May 12- A U.S. judge's ruling that Nomura Holdings Inc and Royal Bank of Scotland Group Plc made false statements selling mortgage-backed securities to Fannie Mae and Freddie Mac could result in a judgment exceeding $805 million, a U.S. regulator's lawyer said on Tuesday. Philippe Selendy, a lawyer for the Federal Housing Finance Agency, gave his...
Source: Reuters | By: Nate Raymond
UPDATE 1-U.S. Senator's bill targets Fed, bank and mortgage rules

WASHINGTON, May 12- A draft Republican bill in the U.S. Senate takes aim at bank rules and insurance regulations, also limiting restrictions on mortgage requirements and proposes restructuring the Federal Reserve and other financial regulators. The 216- page, eight section report released on Tuesday was crafted by the staff of Senator Richard Shelby of...
Source: Reuters | By: Michael Flaherty
Judge: Banks misled Fannie, Freddie in 2008

Nomura Holdings, Royal Bank of Scotland mortgage bonds contained numerous errors and misrepresentations in 2008, says judge. New York Times reports.
Source: The New York Times | By: Peter Eavis
US judge rules Nomura misled on mortgage bonds

A U.S. judge on Monday ruled that Nomura Holdings made false statements in selling mortgage-backed securities to Fannie Mae and Freddie Mac ahead of the 2008 financial crisis.
Source: Reuters