House rules
The US Consumer Financial Protection Bureau is laying out rules aimed at ensuring that mortgage borrowers can afford to repay the loans they take out. The rules being unveiled today include bans on risky “interest-only” and “no documentation” loans.
Khuzami out
Robert Khuzami, the enforcement director at the Securities and Exchange Commission who worked to rebuild its tarnished image after the Madoff scandal and the financial crisis, said he is leaving the agency. Khuzami is expected to leave at the end of the month.
Land rush
Blackstone Group, the largest US private real-estate owner, accelerated purchases of single-family homes as prices jumped. Blackstone spent more than $2.5 billion.
Postal gone
About 5 percent of the US Postal Service’s 525,000-employee work force tentatively accepted an offer to leave as the agency tries to cut costs.
A new Leaf
Nissan will introduce a lower-priced version of its electric car, called the Leaf S.