Eight Stories You May've Missed from Regulation and Reform

Editor-at-large Barbara A. Rehm tackles a thorny question: why are there so few women in the top ranks of large banks, and what can be done to correct that?

Related Article: How to Get More Women in Banks' Senior Ranks

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The Financial Stability Board said that Citigroup and JPMorgan must pay the highest capital surcharge of 2.5% while their competitors face less stringent requirements.

Related Article: Citi, JPMorgan Hit with High Capital Surcharge

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If former Gov. Mitt Romney prevails Nov. 6, he probably won’t seek to eliminate the CFPB. But he is likely to eventually change its leadership structure. The question remains, however, of what CFPB Director Richard Cordray will do with his remaining year in office under a Republican administration.

Related Article: What a Romney Victory Would Mean to the CFPB

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The OCC is “ready to take action” against banks that release reserves too quickly in order to boost earnings, Comptroller Tom Curry warned bankers last week. While he said there wasn’t a problem yet, examiners are watchful in case one develops.

Related Article: OCC's Curry Warns Banks to Maintain Appropriate Reserves

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The CFPB and FHFA revealed they are teaming up to create a first-of-its-kind mega-database of mortgages to track market trends and support policymaking research. Observers, some raising privacy concerns, said the database may have a large impact.

Related Article: CFPB, FHFA to Create Groundbreaking Mortgage Database

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The Federal Deposit Insurance Corp. is planning how the agency, as required by the financial reform bill, will ensure creditors receive at least as much in a resolution as they would otherwise in a Chapter 7 bankruptcy.

Related Article: Bankruptcy Looms Large in New FDIC Takeovers

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Fed Chairman Ben Bernanke and other top regulators are sounding the alarm over a bipartisan bill that would give the president authority to require more rigorous analyses of rules they propose.

Related Article: Banking Regulators Fight Back Against Agency Review Bill

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In more than 700 letters to banking regulators, large and small banks wanted more time to implement Basel III as well as significant changes to the plan.

Related Article: Big Banks Press for More Time, Revisions on Basel III

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As the presidential election looms, observers talk about changes President Romney could make to the CFPB while regulators warn on reducing loan loss reserves too quickly. Following are the top stories from Washington last week.

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