Law and regulation

Federal Reserve Board Gov. Daniel Tarullo is set to meet Wednesday in New York with the top executives of several large banks, including JPM Chase's Jamie Dimon. The meeting will focus on the central bank's recent stress tests, among other things.

The Federal Reserve Board has terminated a written agreement with MidSouth Bank after capital levels improved and noncurrent loans decreased at the Murfreesboro, Tenn., company.

Executive compensation has been an important topic in the investor community for over a decade. Unfortunately, shareholders have gone largely unheard and the issue has been little more than a blip on the radar of corporate America.

The banking industry is not relenting in its fight against new Internal Revenue Service rules that will require more tax reporting on accounts held by foreigners.

The Office of Congressional Ethics voted 6-0 to dismiss allegations that Rep. Spencer Bachus, the House Financial Services Committee chairman, engaged in insider trading.

In the Federal Reserve Board's most recent survey of loan officers, bankers have a host of concerns keeping them away from originating loans held by Fannie Mae and Freddie Mac.

Dodd-Frank went a long way toward ending too-big-to-fail. Since large, diversified financial institutions provide significant economic value to clients, the likely effect of arbitrary and preemptive break-ups would be to concede global financial leadership to other jurisdictions.

The Consumer Financial Protection Bureau said Monday it has hired a new assistant director for its Office of Minority and Women Inclusion, which will work with other regulators to assess diversity policies and practices at banks and nonbanks.

Bernanke as Fed Borg; Reductions for loans owned by Fannie and Freddie indefinitely delayed; Barbara Rehm disputes those who want to break up big banks; Other ways to pay for Obama's refinancing plan; Credit union lending bill is delayed

The CFPB's mission is to protect consumers from financial harm.

WASHINGTON–When the Consumer Financial Protection Bureau recently announced it planned to scale back proposed limits on credit card fees, consumer groups and some in the media immediately criticized it.

There's a sizable, growing community of people who'd be receptive to the notion that you can get needed services without having to support the companies that have inflicted so much damage on the economy and the country.

A complaint filed by the Dakota County (Minnesota) Attorney's office claims that Scott Schoaf, who formerly ran collection agency Alternative Receivables Solutions, used his clients' money to pay his own bills. Schoaf has been charged with two felony counts of theft and two felony counts of theft by swindle.

Consumers sued an estimated 562 different collection agencies and creditors between April 1-15. The number of Fair Debt Collection Practices Act (FDCPA) cases in that period fell to 460, down 13.4% from March 16-31 and down 19.7% from April 1-15, 2011, according to WebRecon LLC, a Grand Rapids, Mich.-firm that tracks the data from U.S. District courts.

WASHINGTON — On the heaviest night of bank closures this year, regulators across four states shuttered a total of five institutions, bringing the year’s failure total to 22 and costing the Federal Deposit Insurance Corp. more than $270 million.

Pay for bank CEOs increased a median 16% in 2011 among a group of 160 banks. Growth was particularly brisk at institutions with less than $20 billion of assets, where CEO compensation measured 2% of total payroll expenses, a far higher level than at larger banks.

Consumer groups are still angry over the Consumer Financial Protection Bureau's decision to revise a rule on credit card fees in light of a recent court ruling. But others say it was a smart play for an agency that must pick its battles.

"White paper" by Hawke and Litan says institutions do not get the same "value" out of their exams following the crisis as they did before the crisis.

The Consumer Financial Protection Bureau is working to finalize the definition of a Qualified Mortgage under the forthcoming ability-to-pay regulations. These regulations will have profound implications for the entire U.S. residential mortgage market.

A coalition of 23 banking industry trade groups urged the Consumer Financial Protection Bureau on Friday to adopt a safe harbor protection from lawsuits for lenders that originate qualified mortgages when the bureau issues a final rule this year.