Law and regulation

Dubious stress test results? External auditors who fail to flag insolvency in advance? The U.S. and U.K. have seen this film before.

The measure, which the bank industry is seeking to end a spate of lawsuits over missing fee-disclosure signs on ATMs, is now on a path to speedy passage by the House.

Unlike last summer, deposit levels have been relatively stable recently as the euro crisis has reached a new crescendo. Either the most nervous money has already fled to the shelter of the bank safety net, or tensions are only just building.

Banks and government agencies face several problems with their plans to rent out their backlog of foreclosed homes, especially if they try to securitize those rentals, according to Morningstar Credit Ratings.

From the CFPB to the FSOC to New York's ban on large soda cups, followers of behavioral theory have gone overboard in their rabid enthusiasm for governmental manipulation.

The Federal Reserve is taking another step to reach out to the public — this time it's educators. The Fed Chairman will sit down for a town hall meeting with teachers in August.

The FDIC's Thomas Hoenig said on a Bloomberg radio program that directors with an appearance of conflicts should relinquish seats on Fed bank boards. The remarks follow others' calls for JPMorgan Chase CEO Jamie Dimon to give up his board seat.

The percentage of delinquent mortgages has fallen to the lowest level in four years due primarily to the strengthening economy, officials with the Office of the Comptroller of the Currency said Wednesday.

The California Supreme Court last week ruled in favor of preemption in a financial services case. The issue doesn't directly involve the Dodd-Frank Act, but has implications for its role in the preemption of state banking laws.

JPMorgan Chase's Chase Paymentech has begun supplying retailers and other merchants with new terminals that can accept payments from smartphones and cards embedded with computer chips.

U.S.-based card networks are making it clear they are hungry for a bigger piece of Canada's debit card market, which is making the nation's merchants nervous.

Led by Rhode Island Sen. Jack Reed, Senate Democrats called Tuesday stronger protections for members of the military regarding payday loans, private student loans and foreclosures.

The Treasury Department has sent letters to 200 remaining Tarp banks indicating that the agency may auction its stakes as parts of pools this fall. While the move removes the government from the banks, it presents new challenges, particularly for recapitalizations.

WASHINGTON — Bankers' banks have joined the list of supporters for an extension of the transaction account guarantee program, which provides unlimited deposit insurance for noninterest bearing checking accounts.

PNC Financial Services Group has agreed to pay $90 million to settle a class action relating to its overdraft protection practices.

The banking industry, facing a rash of lawsuits over fee-disclosure signs on ATMs, is hoping for help this week both from Congress and the Supreme Court.

The company's fixed network fee penalizes merchants that route debit transactions to any competing network, and subverts the competition that the Durbin amendment was designed to foster.

The Federal Reserve Board has issued enforcement orders against two community bank holding companies requiring them to serve as sources of strength for their struggling bank subsidiaries.

John Allison's new book will examine the causes of the 2008 financial crisis and argue against excessive bank regulation. The announcement comes a day after Allison was tapped to lead the Cato Institute, a libertarian think tank.

The House Financial Services Committee votes Wednesday on a bill that would help banks avoid a rash of frivolous lawsuits over ATM fees. The following day, the Supreme Court is expected to issue a ruling that could have a similar effect as the legislation.