Law and regulation

The banking industry, reeling from public outrage and increased regulation, is proving incapable of finding a champion to replace sidelined JPMorgan Chase CEO Jamie Dimon.

Citigroup became the first Western bank to issue credit cards in China without co-branding from a local financial institution as the government relaxes restrictions in the world's second-largest economy.

The group's lack of transparency is symptomatic of a self- regulated system that failed to stop traders around the world manipulating the world's most widely usThe Libor Committee's lack of transparency is symptomatic of a self- regulated system that failed to stop traders around the world manipulating the world's most widely used benchmark interest rate for profit.ed benchmark interest rate for profit.

The BdB German Banking Association, which represents Deutsche Bank and Commerzbank, wants the European Central Bank to have sole responsibility for regulatory supervision of all euro-region banks.

David Cohen, the Treasury undersecretary for terrorism and financial intelligence, said the new director, Jennifer Shasky Calvery, is "a perfect fit."

While the president urged Congress to act before the end of the year, he did not sound optimistic about that happening.

After years of questions over whether regulators can impose "source-of-strength" rules, regulators are prepping a clearer standard that would, among other things, give them more oversight of some commercial firms such as Target and Toyota.

Issuers exempt from the regulatory caps on debit card interchange are exploring the chance to grow their business-debit initiatives, stealing customers from larger rivals that now see such programs as unprofitable.

Fifth Third Bank is launching a commercial card that has an EMV chip to allow the bank's business customers to make payments overseas.

Unprecedented regulatory demands and competition require banks to continue innovating and diversifying, says Aubrey Patterson, the Tupelo, Miss.-based company's longtime CEO, in a wide-ranging interview.

The Treasury Department announced Monday that it has tapped Jennifer Shasky Calvery as its new director of the Financial Crimes Enforcement Network.

Standard Chartered did a lousy job of picking a monitor on behalf of regulators who'd flag its compliance lapses in the past. Now New York's Department of Financial Services must pick an independent monitor to oversee the British bank's activities for the next two years.

Feedback from supervisors can help to improve decisions sometimes merely by posing the right questions and pursuing the answers. Supervisors can be especially important in providing an independent review of the quality of decisionmaking within a company.

There's no consensus among bankers on whether the qualified mortgage rule, which the Consumer Financial Protection Bureau will issue, should include a certain protection for lenders.

In a surprising reversal, the Consumer Financial Protection Bureau proposed rules on Friday that will allow lenders to continue offering discount points and fees rather than a flat fee when originating home loans.

The Treasury Department plans next week to auction preferred shares in five banks that received a combined $84 million from the Troubled Asset Relief Program.

We provide answers to frequently asked questions about what Treasury did, why it made its move — and what it means for the future of Fannie and Freddie.

William Haraf, the former California banking commissioner, has rejoined Promontory Financial Group.

Two wide-ranging regulatory proposals from Republican presidential candidate Mitt Romney, which so far have received scant attention, could put the brakes on implementation of the Dodd-Frank Act.

The ability of regulators to seize and unwind a failing large company — the very heart of the Dodd-Frank Act — is caught in a crossfire. Stuck in the middle? The Federal Deposit Insurance Corp.