President Barack Obama pledged to veto any legislation that weakens new curbs on Wall Street as banks and the Republican-led Congress increasingly seek to roll back the Dodd-Frank financial-regulation law.

Obama included the message in his State of the Union speech Tuesday after the House approved a measure last week that would loosen some restrictions in the 2010 law. His remarks also come as Wall Street re-emerges as a force in Washington, having successfully attached one of its top legislative goals to a government spending bill that lawmakers approved at the end of last year.

“We can’t put the security of families at risk by taking away their health insurance, or unraveling the new rules on Wall Street, or re-fighting past battles on immigration when we’ve got a system to fix,” Obama said. “If a bill comes to my desk that tries to do any of these things, it…

William Erbey is getting $1.2 million in cash and medical coverage for his wife after he stepped down from Ocwen Financial Corp. (OCN), one of the largest mortgage servicers, as part of a deal with New York regulators.

Erbey, 65, will receive $725,000 as a severance payment, $475,000 in lieu of relocation benefits, and lifetime health insurance for himself and his spouse, Ocwen Financial said today in a regulatory filing. He’ll also get a $725,000 dividend from his preferred stake in Ocwen Mortgage Servicing before the firm repurchases the holding for $100.

Read on.