Law and regulation

The Democratic Senate leader seized on the political momentum from the losses at JPMorgan Chase to push for a vote on President Obama's two nominees.

Two debt collection agency executives pleaded guilty Friday to allegations that they defrauded the Connecticut-based Webster Bank.

Sen. Bob Corker acknowledged that he is delaying a bill that would provide banks greater assurance of confidentiality when they provide information to the Consumer Financial Protection Bureau, saying that he wants a larger package of technical changes to Dodd-Frank.

RBS Citizens Financial Group is expanding its private student loans business across the contiguous United States, the company announced on Tuesday.

Banks are facing a Wild West atmosphere as they invest in a patchwork of new payments technologies, from prepaid cards to mobile payments, without any guarantees that they will pick the right one.

The Federal Deposit Insurance Corp. will give its next update on the health of the banking industry on May 24.

The $2 billion loss at JPMorgan Chase (JPM) has reopened debate on the Volcker rule. The proponents of the rule have seized on the story as proof that the Volcker rule is necessary and should be quickly put into effect by regulation. In reality, however, if the facts are as thus far reported, what happened at JPMorgan is proof that the Volcker rule is unworkable and should be repealed.

On the whole, large banks appear to have primed their books for a rebound in rates: levels of short-term assets relative to short-term liabilities are now higher than they have been during roughly the past decade. The postures of individual institutions vary widely, however.

The JPMorgan Chase CEO's role as industry punching bag du jour has more to do with bad politics than with bad business.

Grand Bankshares in West Palm Beach, Fla., has been ordered by the Federal Reserve Board to serve as a source of strength for its struggling bank subsidiary.

Republican lawmakers Tuesday tabled a set of bills that would curtail new financial regulations, after a more than $2 billion trading loss at JPMorgan Chase & Co. (JPM) was widely seen as bolstering the argument in Washington for stricter oversight of Wall Street.

The Justice Department has opened an inquiry into JPMorgan Chase & Co.'s (JPM) more than $2 billion trading loss announced by the company Thursday, according to a person familiar with the matter.

Federal Reserve Board Gov. Elizabeth Duke outlined a number of factors — such as the mortgage servicer settlement, the huge number of underwater borrowers and the failure to reform the GSEs — that are working to limit mortgage credit to healthy borrowers.

Treasury Secretary Tim Geithner said Tuesday that the $2 billion trading loss at JPMorgan Chase makes a "powerful case" for the financial reforms being implemented under the Dodd-Frank Act.

The bureau is still the lead agency, but Dodd-Frank's ban on certain harmful practices known as UDAAP could give other agencies a significant role through their enforcement authority over community banks.

The Senate Banking Committee has yet to decide whether it will call JPMorgan Chase officials to testify about the firm's $2 billion trading loss, according to a committee source.

Federal banking regulators on Monday provided fresh guidance on how the largest institutions should move ahead with their own routine stress testing exercises.

Michael Krimminger had served as a top deputy to Sheila Bair during the Financial Crisis.

WASHINGTON – Dissatisfaction is growing in Congress with the Obama administration's decision to leave mortgage investors out of talks that led to a $25 billion settlement.

A big trading loss at Chase has some community bank CEOs discussing a second tier of regulation for small banks. Other CEOs believe the snafu is yet another black eye for the banking industry. And some point out that the loss is fairly insignificant to the New York company.