Seven Stories in Regulation and Reform You Shouldnt Miss
Editor-at-Large Barbara A. Rehm broke an exclusive story last week detailing the results of the OCC's private tests of the 19 largest banks on corporate governance. The results are shocking. (Image: Thinkstock)
Senate Democrats tried - and failed - to vote on an extension of the Transaction Account Guarantee program last week. While that likely kills the program, which expires at yearend, for good, the finger-pointing over who is to blame has just started. So who is at fault? Find out here: With TAG Near Death, Finger-Pointing Begins (Image: Bloomberg News)
The Fed finally unveiled its proposal to revamp how it will regulate foreign banks with a significant presence in the U.S. The plan is shaping up to be highly controversial, with critics worried it will spark a trade war with other countries and/or drive foreign banks away from the U.S. (Image: Bloomberg News)
Fed Chairman Ben Bernanke said last week that regulators are close to completing the Volcker Rule, which will ban proprietary trading by banks. Five agencies must sign off on the final rule, and Bernanke said there "is quite a bit of agreement on key points" among the regulators. (Image: Bloomberg News)
A bank's decision to balk at paying dividends to a private investor that bought its Troubled Asset Relief Program shares may reduce investor interest in future auctions and weaken returns for the government.
You don't normally see big bank chief executives weighing in on the future of Fannie Mae and Freddie Mac. While Brian Moynihan, the CEO of Bank of America, expressed support for backing away from government support of the mortgage market, he also warned it has to be done slowly. (Image: Bloomberg News)
HSBC's record $1.9 billion fine for anti-money laundering penalties should put other banks on notice, regulators and lawmakers agreed. Sen. Carl Levin, the Michigan Democrat who helped expose many of the problems, said the fine should be a "powerful wakeup call" to banks. (Image: Bloomberg News)
With just two weeks before the end of the year, there is a lot going on in Washington. Rather than tell you all the stories happening, we thought we would boil it down to the essential stories from D.C. last week. If you haven't read these, you're missing out.
National/Regional'Stumpf Is Lucky': Comments of the Week
Law & RegulationEight Times Stumpf Was Hammered by Senators
Law & Regulation'Pantheon of Weasels': Comments of the Week
National/Regional'That's a Good Thing, Isn't It?': Comments of the Week
Law & Regulation'It's Always Something': Comments of the Week
Law & RegulationWho to Watch as Regulators Size Up Online Lending
Law & Regulation'GSEs Were an Accident Waiting to Happen': Comments of the Week
Bank Technology7 Faster Payments Projects in the U.S.