BankThink

The Federal Deposit Insurance Corp. announced that James Wigand will step down from his management post of the agency's new wind-down facility for systemically important companies on July 28. In 2010, Wigand began overseeing the agency's implementation of the new resolution powers under the Dodd-Frank Act.

The SEC's recent roundtable on ratings shopping in structured finance was a reminder of how efforts at reform are obstructed by a wall of denial.

Breaking News This Morning ...Charges Filed: The U.K.'s Serious Fraud Office has charged former UBS and Citibank trader Tom Hayes with eight counts of fraud in connection with the London interbank offered rate-rigging scandal. The charges represent the first time U.K. authorities have pursued criminal penalties against someone allegedly involved in the manipulation of Libor, says the Journal. Per the FT, the move sets up "a potential conflict" between the U.S. and the U.K. since Hayes is already facing charges from the Department of Justice and, generally, "criminal matters are resolved in a defendant's home country before any extradition request is considered." Dealbook notes Hayes "figured prominently" in the $1.5 billion UBS Libor settlement this December. The news outlets don't indicate whether other individuals will find themselves facing similar allegations, but the Journal previously reported that sometime this summer U.K. and U.S. authorities are expected to file criminal charges against former Barclays employees for their alleged roles in the Libor scandal.

Given America's romance with small business, it certainly can't hurt to be seen out there supporting mom and pop.

Retailers should embrace a hybrid approach to mobile shopping with wallet apps that bridge the physical and digital consumer experiences.

When the government backs any system, the beneficiaries have only limited interest in the risks they are taking. Senators Corker and Warner have fallen into this trap.

Many developed countries, free from the U.S. impulse to see every product as something to track, do not share its inclination to frown on financial privacy.

Sen. Elizabeth Warren raised the issue about the regulatory burden facing community banks at a Senate Banking Committee hearing.

Below are highlights from Credit Union Journal's Grow Show.

It was great to see many credit union leaders in agreement that the rebounding economy and housing market will bring opportunities to credit unions in the area of mortgage lending.