Law and regulation

The CEO of State National Bank of Big Spring faced pushback from House Democrats over his argument that Dodd-Frank is squeezing small banks.

The Consumer Financial Protection Bureau is delaying a decision on the definition of "large market participant' for the collection industry, Peggy Twohig, assistant director of nonbank supervision for the agency said Thursday at ACA International's Annual Convention.

New analysis from a nonpartisan group shows that JPMorgan officials accounted for 18% of all industry meetings with the Fed concerning Dodd-Frank implementation over the past two years, while JPMorgan accounted for 17% of all meetings with Treasury. Goldman Sachs, which also held hundreds of discussions with regulators, focused mainly on the CFTC.

"The Daily Show" host took several sharp stabs at the growing Libor scandal on Wednesday night, equating the bankers that manipulated the interbank lending rate with the villains of a "Da Vinci Code"-type thriller.

The Financial Stability Oversight Council voted to designate eight financial-market utilities as "systemically important." They will will be subject to heightened risk management standards under Dodd-Frank.

From the Card Act to the CFPB to Durbin, new regulations succeed only in raising the prices or crimping availability of financial services. Memo to politicians: Google "unintended consequences."

You can't claim to be a victim of watchdogs and at the same time blame watchdogs for being dumb, inept and disorganized.

The supense is over: the CFPB flexed its enforcement muscle. Capital One's practices for marketing credit card add-on products was the subject of the agency's first enforcement order.

U.S. regulators led the world in developing Legal Entity Identifiers. Now that the G20 has embraced the idea, though, we need to get on the same page with other nations.

Stricter state regulation of payday lenders slows use of the loans and doesn't drive borrowers online or out of state, says the Pew Charitable Trusts in a new report.

Sen. Bob Corker, R-Tenn., announced Wednesday he is ending his opposition to an industry-backed bill ensuring banks can keep their claim of privilege when handing confidential information to the Consumer Financial Protection Bureau.

Should Davis Polk be designated at a "Sytemically Important Financial Illustrator," asks the Financial Times, in reference to a "gem" of a chart that the law firm created to track Dodd-Frank's progress at age 2.

FSOC makes its first official designation of large firms that will be subject to new Dodd-Frank regulatory regime.

Loan demand tracked the overall U.S. economy in June and the first half of July as growth was slight and spotty, the Federal Reserve Board reported Wednesday.

Jeremiah Norton expressed empathy for smaller banks during his first public remarks since joining the FDIC in April. Still, he rejected calls to delay implementation of Basel III capital requirements.

The Consumer Financial Protection Bureau issued its first enforcement action Wednesday, ordering Capital One Bank N.A. to pay $165 million for what the agency described as deceptive marketing tactics related to various credit card products.

Texas lawmaker says transparency of central bank is insufficient and Congress should get a "backbone." But Fed chairman counters that required audit could subject decisions to political influence.

The majority of likely voters, regardless of party affiliation, support the Dodd-Frank financial reform law and the Consumer Financial Protection Bureau, according to a poll organized by consumer advocates.

U.S. Bancorp executives view the issuer's portion of the proposed $7.25 billion swipe-fee settlement, which some merchants are fighting, as an expense already incurred.

The Federal Reserve Board has entered into a written agreement with TCB Holding that requires the Woodlands, Texas, company to serve as a source of strength for its bank.