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Regulation & Reform News


The Politics Behind the Senate's Vote on Cordray: FAQ

Victoria Finkle | May 16
Senate Majority Leader Harry Reid is bringing the battle over the Consumer Financial Protection Bureau back to the forefront next week with a long-awaited confirmation vote on Richard Cordray, the agency's director.
Comments (2)
Washington
Regulation & Reform

Housing, Fiscal Policy Still Drag on Economy: Fed's Raskin

Donna Borak | May 16
Federal Reserve Gov. Sarah Bloom Raskin warned Thursday that the government's tightening fiscal policies and a slow housing recovery will continue to restrain a U.S. economic recovery.
Consumer Finance
Regulation & Reform

FDIC Sues Management of Failed Fla. Bank for $48M

Chris Cumming | May 16
The Federal Deposit Insurance Corp. is seeking to recover $48 million from officers and directors of a Florida bank that collapsed in 2010 following heavy defaults on commercial real estate loans.
Regulation & Reform
Community Banking

Wall Street Wins Rollback in Dodd-Frank Swap-Trading Rules

May 16
JPMorgan Chase, Goldman Sachs and the world's largest banks won rollbacks in final Dodd-Frank Act rules that promise to transform the private swaps market by increasing competition.
Markets
Regulation & Reform

Is Bitcoin a Flash in the Pan?

May 16
The Treasury Department has moved to rein in Mt. Gox, the world’s largest exchange for the all-digital currency Bitcoin. The move raises the specter that the government is intent on eliminating anonymous Bitcoin transactions, which could dramatically reduce the currency’s allure to many users.

Related article: Bitcoin Exchange in U.S. Crosshairs Banked at Wells Fargo

Comments (1)
Regulation & Reform
Technology

Payday Lenders to CFPB: Back Off

Kevin Wack | May 16
Director Richard Cordray sat silently at a public hearing as a room full of the industry's customers and employees argued that Americans should be allowed to make their own borrowing choices.
Regulation & Reform
Community Banking

Brown-Vitter Bill: A Capital Fix for Troubled Markets

John H. Buhrmaster | May 16
The common-sense steps taken in the bill will help even the playing field between community banks and big financial firms.
Comments (6)
Community Banking
Risk Management

Bitcoin Exchange in U.S. Crosshairs Banked at Wells Fargo

Brian Browdie | May 16
A move by the U.S. government to rein in the unregulated use of Bitcoin involved the seizure of a Japanese company's account at Wells Fargo.
Risk Management
Regulation & Reform

CFPB Targets Discrimination in Auto Loan Battle

Jeff Horwitz, Kevin Wack | May 15
Consumer advocates believe the bounties banks pay to car dealers for steering customers to high-interest loans are abusive. But with a ban likely to spark a political backlash, the Consumer Financial Protection Bureau is instead seeking to prove the markups are discriminatory.
Regulation & Reform
National/Global

Senate's CFPB Director Vote to Occur Next Week

Katie Gillespie | May 15
The Senate will hold a vote to confirm Richard Cordray as director of the Consumer Financial Protection Bureau sometime next week.
Regulation & Reform

Why Bankers Should Care About the Farm Bill

Victoria Finkle | May 15
Lawmakers in both chambers are working to pass a major farm bill that will determine agricultural policy for the next five years, legislation that could have implications for rural lenders.
Community Banking
National/Global

FDIC's 'Single Point of Entry' Plan is Option to Solve TBTF

Katie Gillespie | May 15
A new report from the Bipartisan Policy Center released Tuesday said that "single point of entry" resolutions, a strategy favored by the Federal Deposit Insurance Corp., are a viable option to solve the "too big to fail" problem.
Regulation & Reform

Fed Prepared to Raise Capital Standards if Dodd-Frank Does Not Solve TBTF

Katie Gillespie | May 15
Top Federal Reserve Board officials, including Fed Chairman Ben Bernanke, believe it is best to carry out the current reform process to solve the "too big to fail" issue, but are ready to significantly increase capital standards if the problem persists.
Regulation & Reform

FDIC Chief Signals Support for Higher Leverage Ratio

Joe Adler | May 15
In a speech Wednesday, Federal Deposit Insurance Corp. Chairman Martin Gruenberg moved closer to the views of other top officials who have already backed a higher ratio, and provided an update on global coordination of resolution plans.
National/Global
Regulation & Reform

Legal Fight Delayed the Failure of Central Arizona Bank

Robert Barba | May 15
Central Arizona Bank, a unit of Capitol Bancorp, was set to be shut down with two sister banks last Friday, but a legal challenge bought it a few extra days.
Community Banking
Regulation & Reform

In Pictures
Comments of the Week: Fair Lending Insanity; Split Chairman and CEO Roles?

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