Law and regulation

While remittances may pose higher risks than services like bill pay, they are absolutely necessary in an age of unprecedented migration. It's high time state and federal regulators update the rules to help inspire banks to re-risk.

American Banker readers share their views on the most pressing banking topics of the week. Comments are excerpted from reader response sections of AmericanBanker.com articles and our social media platforms.

The Federal Trade Commission filed a lawsuit against NetSpend on Thursday, alleging that the prepaid card issuer deceived consumers in its advertising.

CEO Tim Sloan, who took over from John Stumpf last month as the bank tries to put a phony-accounts scandal behind it, apologized to employees who may have faced such retribution.

The bank's decision, announced Wednesday is an indication many in the industry believe the rule isn't going away, despite speculation that the incoming Trump administration could delay or kill it.

GOP control of the legislative and executive branches, combined with a 2018 election map that threatens vulnerable Democrats, gives the industry its best chance in six years to change the financial reform law.

The historic election has presented an opportunity for a comprehensive overhaul of the housing finance system after eight years of gridlock.

Banks have been waiting on Justice Department guidelines on how to make their websites compliant with the Americans with Disabilities Act, but many are being advised to take action now or face lawsuits from disabled customers.

Bankers can't start spending their tax cuts under the Trump administration yet because there are so many X factors — including what exactly the new president would seek to steer through Congress. But they sure have fun thinking about what they'd do with the billions of dollars in savings that are possible.

A Trump presidency might very well accelerate recent efforts to adapt banking regulation to the rise of fintech.

After a divisive campaign in which Donald Trump fiercely criticized his rival's ties to Wall Street, the president-elect appears to be considering JPMorgan Chief Executive Jamie Dimon as Treasury secretary. But there are many reasons to be skeptical it will ever happen.

The heightened refinancing activity is seen as increasing Ginnie Mae prepayment speeds and reducing the value of mortgage servicing rights.

Many community bankers are hopeful that the pro-business Republican will reduce regulatory costs for them and their customers, but others remain concerned about Trump's lack of specifics on job creation.

President-elect Donald Trump might attempt to remove Consumer Financial Protection Bureau Director Richard Cordray from his post and boost legislative efforts to weaken its powers.

To jawbone Mexico into paying for the wall, President-elect Trump has threatened to suspend remittances. Such a move would disrupt one of the busiest corridors of money in the world.

The new administration and Republican-controlled Congress have a historic opportunity in 2017 to bring banking into the 21st century.

In a message to employees Wednesday morning, JPMorgan Chase Chief Executive Jamie Dimon said the election of Donald Trump as president reflects a "deep desire for change.”

While Washington scrambles to make sense of President-elect Donald Trump's victory and Republicans' control of both chambers of Congress, the implications of the 2016 election on the Financial Stability Oversight Council will be swift and severe, analysts say.

Voters in South Dakota on Tuesday overwhelmingly approved a measure to cap interest rates on payday, installment and auto title loans at 36%, while rejecting a competing amendment sponsored by a large payday lender.

Voters in Florida, North Dakota, Montana and Arkansas approved medical marijuana measures on Tuesday, while their counterparts in California, Massachusetts and Nevada approved recreational pot initiatives.