Law and regulation

Given the recent developments in Europe, investment managers are wondering when the euro will come crashing down. Challenges are likely to fall upon operations and technology departments within investment management firms. The steps to limit risk should be taken now.

Two prominent Democrats — Sen. Richard Durbin and Rep. George Miller — asked the Consumer Financial Protection Bureau to examine fees charged to college students who receive financial-aid disbursements on their debit cards.

Bond investors tell lawmakers of their being shut out of the negotiations and of their reduced trust of the servicing industry.

The Fed on Thursday issued proposals that would raise banks' minimum capital requirement to 7%.

West Virginia Rep. Shelley Moore Capito has asked the Federal Deposit Insurance Corp. to provide Congress with a detailed analysis on the performance of the Transaction Account Guarantee program in order help lawmakers decide to whether or not to extend the four-year-old program when it expires Dec. 31.

In testimony before the Joint Economic Committee of Congress, Fed chairman also highlights lawmakers' role in strengthening U.S. economy.

Debate is heating up on the question of whether a nonworking spouse who relies on "household income" can qualify for a credit card account.

Comptroller Tom Curry faced a barrage of criticism over how JPMorgan Chase lost $2 billion under the OCC's nose. The hearing threw into turmoil the roles typically played by Democrats and Republicans and raised new questions about the Volcker Rule.

More banks and business owners would tap the U.S. Small Business Administration's loan guarantee programs if the SBA would streamline the application process, M&T Bank (MTB) Chairman and Chief Executive Robert Wilmers said Thursday.

Federal prosecutors Wednesday accused Washington D.C. Council chairman Kwame R. Brown with mortgage fraud, saying he lied on his home mortgage application as part of a scheme to buy a $50,000 power boat.

The nation's mega servicers are increasing their use of principal reductions in modifying loans as they fulfill obligations under the $25 billion robo-signing settlement with the state attorneys general and federal agencies, according to new figures released by the Treasury Department.

The Atlanta bank, which was forced to retreat from a $5 debit-card fee in the fall, is making it more difficult for some customers to qualify for free checking.

West Virginia Attorney General Darrell McGraw's office has made agreements with five out-of-state debt collection companies that were unlawfully working in the state. The companies agreed to pay a total of $772,286 in the form of refunds and debt forgiveness.

Directors and officers of banks, already under scrutiny from the regulators and law enforcement agencies traditionally charged with examining their actions, should take heed of a new player on the scene: the Office of the Special Inspector General for the Troubled Asset Relief Program. SIGTARP has already been involved in a number of significant financial institution investigations and appears poised to increase the scope of its activity.

If ratified by the Fed, the new liquidity ratios could constrain lending, at the worst possible time. A proposed capital buffer is theoretically countercyclical, but needs more work.

BancorpSouth quietly cut a deal in Arkansas that could undercut Florida claims in the overdraft case and save it millions. A federal judge is not amused.

Newly installed Comptroller Tom Curry faced a barrage of criticism over how JPMorgan lost more than $2 billion from trades in London and why regulators were not more aware of the severity of the threat.

House Democrats on Wednesday took aim at a controversial bill that would establish a self-regulatory organization to oversee retail investment advisers, raising a litany of concerns about the impact on small investment practices and diminishing the roles of existing federal and state authorities.

Businesses went knocking on banks' doors to ask for more loans over the past few months, boosting optimism that demand would continue to rise in the coming year, according to a Federal Reserve Board report released Wednesday.

Ignoring state appraisal laws may subject bank employees or third-party service providers to fines or even criminal penalties. National banks relying on federal preemption for appraisal laws should take another look at that assumption in light of Dodd-Frank.