Bank of England Gov. Mark Carney (Bloomberg News)
The Brisbane G-20 summit, where global loss absorbency rules will be unveiled, "will be the watershed in ending 'too big to fail,'" Carney said.
Policymakers are closing in on developing rules key to ensuring the ability of the government to take over failing behemoths, but the ultimate success of their plan may depend on how fast regulators can act.

Top Stories

At least 10 large banks, including Bank of America, Citigroup and Wells Fargo, have raised more than $18 billion in programmatic capital since early last week. Tier 1 shortfalls, the end of earnings season and heightened market demand for bank issuances are among the reasons for the transactions.  more »
In a surprise victory for mortgage servicer PHH Corp., a California judge overturned a $16.2 million jury verdict awarded to a California homeowner in July for a botched loan modification.  more »
A senior lawmaker's bid to take the Financial Services Committee gavel next year from Chairman Jeb Hensarling, R-Texas, is unlikely to prove successful, but the effort could still have far-reaching implications for House Republicans.  read more »
The $44 billion-asset specialty lender viewed its pending purchase of OneWest Bank as its way to get significantly over the $50 billion threshold for systemically important financial institutions. But CIT CEO John Thain is all for a proposal that would raise the SIFI bar higher.  read more »
Disruptors
The Apple/MCX Wallet War's Collateral Damage
Apple Pay was supposed to deliver a victory blow for Near Field Communication payments, but its launch seems to be doing as much damage as good for the cause of NFC.  read more »
Community banks in the Northeast have gotten healthier in the past year, and loan growth has nearly doubled. Now OCC officials are worried that banks may be overstretching to protect their thin profit margins.  read more »
It's surprising how much advice varies about how to respond to customer complaints on social media. Ignore small threats, some say, while others warn banks to respond immediately because they could go viral. Still others think banks should overhaul their whole customer experience to disarm critics.  read more »
Our second annual ranking of the banks that win high marks from employees for providing a positive work environment, top-notch benefits and ample career-advancement opportunities. (The perks – like free lattes and subsidized gym memberships – are nice, too.)  read more »
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