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The Top Seven Stories of Regulation and Reform

Federal Reserve Board Gov. Daniel Tarullo last week offered an early peek at significant policy changes U.S. regulators are considering for the supervision of large foreign banking organizations. Tarullo said the central bank will release a proposal in the next few weeks that would require foreign banks operating here to comply with the same regulatory requirements as U.S. bank holding companies. (Image: Bloomberg News)

Rep. Barney Frank may not seem like the most likely pick for American Banker's lifetime achievement award. But in his three decades in Congress, he had an outsized impact on the industry, including helping to pass Tarp and financial regulatory reform. And no, he didn't cause the housing crisis. (Image: Bloomberg News)

Senate Majority Leader Harry Reid not only announced support for a two-year extension of the Transaction Account Guarantee program, he introduced a bill himself. While some bankers are pleased, it's clear the bill still has to overcome significant obstacles to be enacted this year, including opposition from Sen. Bob Corker, R-Tenn. (Image: Bloomberg News)

It's official: Rep. Jeb Hensarling, R-Tex., will be the next chairman of the House Financial Services Committee. While he hasn't an outlined an agenda, at least one item is clear. Hensarling is seeking to delay implementation of the Volcker Rule. (Image: Bloomberg News)

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Regulators sought to assure lawmakers and financial institutions last week that they would weigh potential conflicts from a slew of proposed mortgage regulations due out shortly as they finalize Basel III capital and liquidity rules. (Image: Bloomberg News)

Dodd-Frank may be passed, but Rep. Barney Frank is still trying to shake up the system. He and Rep. Mike Capuano introduced a bill to merge the Securities and Exchange Commission and the Commodity Futures Trading Commission.

The Consumer Financial Protection Bureau said last week it has issued warning letters to six specialty reporting agencies for making it too difficult for consumers to find their free annual reports. This is just the start of the agency's interest in the subject. The agency also said it would delay implementation of its controversial remittance rule. (Image: Bloomberg News)

With just a few short weeks until Congress adjourns for the year, Washington is experiencing a rush of activity covering everything from a potential extention of the TAG program to the delay of the Volcker and remittance rules. Following were the highlights of last week:

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