Regulators closed The Enloe State Bank in Texas late Friday, marking the first failure in 17 months and the first in the Lone Star State in over five years.

This is the first year that only the largest and most complex banks will be included after the Federal Reserve decided to let smaller firms wait until next year to resume testing.

Wells Fargo is in negotiations to settle a U.S. probe into procurement of low-income housing tax credits as its top lawyer tries to clean up issues before handing off the chief executive officer role.

The launch of a combined securitization platform for Fannie Mae and Freddie Mac is meant to ease the transition to a new housing finance system. But questions remain about how the mortgage sphere will adapt to the single security.

There's been chatter about whether the government-sponsored enterprises should be considered systemically important. But supporters must consider that such a designation would put the Fed in charge of their supervision, a step that would do more harm than good.