Law and regulation

Shouldn't we want to preserve the benefits of being big, global and diversified if society can manage these banks' risk exposures and support their stabilizing effects on economic order?

Join the editors of American Banker and the industry's most influential policymakers, lawmakers and executives to discuss the issues that remain at the forefront of the regulatory landscape: CFPB, Volcker Rule, TAG, fair lending enforcement, Basel III and the impact the elections will have on financial institutions.

PLYMOUTH, Minn. — NCUA announced this morning it has awarded the remnants of AM Community CU, a failed $135 million Kenosha, Wis., credit union, to TruStone Financial FCU under a purchase and assumption agreement.

Tools provided by Dodd-Frank to ensure stronger oversight and restrictions over the largest banks are a more effective way to end bailouts than just limiting banks' size.

While I'm sure some community bankers applauded Sandy Weill's recent call to break up our nation's largest banks, I, for one, did not.

The Small Business Lending Enhancement Act would let credit unions help small businesses and our economy without costing taxpayers a dime. Whether lifting the cap creates one job or 1,000, it would be a success.

Two measures that the banking industry is hoping to see pass in the Senate are being stymied by Republican Sen. Jim DeMint. His hold on the bill that combines the two measures is "an effort to force a symbolic vote on repealing" on Dodd-Frank, writes American Banker's Kevin Wack.

U.S. payment-card industry rivals have decided to come together, at least for a few days, to better navigate the gargantuan task of migrating to the modern EMV chip-card standard by 2015.

The Supreme Court punts on resolving an eagerly watched RESPA lawsuit.

The investigation into what the regulators knew, and when, is just beginning.

Stiffer oversight of banks with assets of $50 billion or more will keep New York Community Bancorp, of Westbury, N.Y., out of the M&A game until a major acquisition comes along, CEO Joseph Ficalora says.

A former Minnesota Vikings tight end has reached a settlement with federal regulators over his alleged misdeeds at a Minneapolis-area community bank.

David Cohen, the Treasury undersecretary for terrorism and financial intelligence, urged banks and others in the financial industry to weigh in on a regulatory plan to require institutions to identify beneficial ownership of their account holders.

Industry groups want lawmakers to extend Dodd-Frank's unlimited insurance for transaction deposits, which is now mandatory for all banks. But TAG used to be voluntary, and some say it should be again.

"Federal Reserve Board Gov. Sarah Bloom Raskin urged regulators to narrow a proposed exemption to the Volcker Rule, saying it may allow banks to avoid compliance with the ban on proprietary trading," writes American Banker's Donna Boraks.

Many large merchants expressed outrage at the apparent laxity of the Federal Reserve Board's finalized rule that will allow non-exempt debit card issuers to collect a 1-cent fraud-prevention adjustment on debit card transactions.

This is no time to start unwinding the largest banks. There's enough uncertainty in this fragile economy. But starting a conversation now about the costs and benefits will lay the groundwork for sound action when conditions improve.

Legislation proposed by Democratic Sen. Tom Carper and Republican Sen. Roy Blunt could relieve some of the burden that financial institutions currently bear.

Edward DeMarco, the acting director of the Federal Housing Finance Agency, on Tuesday defied both the Obama administration and widespread expectations that he would cave to a torrent of political pressure and allow Fannie Mae and Freddie Mac to offer principal reductions to troubled borrowers.

Visa Europe was sent an antitrust complaint from EU regulators over the fees it charges to process cross-border credit-card payments.