Law and regulation

There was another surprise Tuesday as Republicans managed to keep a Senate majority following the elections, likely giving the gavel of the Banking Committee to Sen. Mike Crapo, a right-of-center Idaho lawmaker who has proven willing to reach across the political aisle in the past.

The New York real estate mogul Donald Trump defied all conventional wisdom by winning the presidency, a huge upset that is sending shock waves through the political and policy establishment. During the campaign, Trump eschewed providing details on many issues, instead just providing a broad outline of his policy positions. Following is a guide to what Trump has said.

Despite more than a year of campaigning and discussing various issues, Donald Trump remains a huge question mark when it comes to banking policies — making it unclear exactly what his priorities would be as president.

Housing was the talk of the campaign two presidential elections ago, but it stayed under the radar in the 2016 race, leaving plenty of room to speculate about President-elect Donald Trump's likely mortgage policy for the next four years.

Republican presidential nominee Donald Trump's shocking victory late Tuesday left world markets rattled, and financial services companies facing an uncertain future. But once they adjust, financial institutions are likely to embrace Trump's de-regulatory agenda.

WASHINGTON — The Internal Revenue Service's internal watchdog Tuesday called on the agency to develop a concerted strategy to address the possible use of virtual currencies in tax evasion or money-laundering schemes.

While regulators discuss a potential federal fintech charter, another possible solution for firms trying to avoid multistate licensing already exists: the trust charter.

It is premature to say whether criticism of cross-selling and calls to break up the big banks will lead to action, but there is one area where a spinoff could actually be in the banks' interest.

Zions Bancorp. in Salt Lake City disclosed that it had entered into a "substantive settlement discussion" with the Justice Department regarding an probe into its payment-processing practices.

WASHINGTON — A group of financial regulators have announced final changes to its ratings system for examining banks' compliance with consumer protection laws. The update to the ratings generally reflects changes in the marketplace since the rating system was adopted in 1980.

As voters in California, Florida and nine other states decide whether to legalize marijuana, the results may force Congress to resolve differences between federal and state laws that have paralyzed much of the banking industry.

Deposits at big banks have swelled as corporations shifted funds around in anticipation of new money market rules. But industry experts describe the influx as a temporary blip that will serve mainly to provide yet another drag on margins in the fourth quarter.

WASHINGTON – The Federal Reserve's periodic survey of bank loan officers indicates that a decline in banks' share of commercial and industrial lending activity is likely related to nonbanks' ability to outcompete on both price and loan terms.

The Justice Department has widened its investigation of Fulton Financial’s mortgage lending practices to include four new units.

Guidance on regulatory expectations is helpful, but it is not yet clear whether such guidance gives financial institutions impetus to onboard or keep clients they perceive to be riskier.

If the Democratic nominee wins the presidency, she could quickly face opposition from within her own party regarding her moderate views on banking and economic policy, particularly from Sen. Elizabeth Warren.

Depending on the outcome of the election, the fight over two conflicting state ballot initiatives could provide a road map for the embattled payday lending industry or consumer activists seeking bans in other states.

Since the government-sponsored enterprises began experimenting with both front-end and back-end deals in which part of the credit risk is shared with third parties, investors have been watching carefully.

Revelations from the last several weeks once again underscore the need for effective reputational risk management.

The spotlight on unethical sales practices at banks has likely led customers to consider abandoning their financial institution, yet too many factors stand in the way of making a switch.