Law and regulation

I am sad to see Cam Fine of the Independent Community Bankers of America resort personal attacks on me and my firm in response to my comment, "TAG Actually Gives Big Banks the Advantage." I can imagine that my comment stung a bit, but Cam and all of the people at ICBA know that I am one of the most vocal advocates for community banks in the U.S. Indeed, our firm is focusing a great deal of time and effort to help small banks raise capital and compete with the too-big-to-fail banks.

The consumer bureau's student-loan ombudsman told bankers this week that problems facing the sector could have long-lasting effects on the economy for years to come.

The Securities and Exchange Commission has accused Wells Fargo & Co. of failing to produce documents relating to an investigation of the bank’s mortgage-backed securities. Wells called the SEC's subpoena enforcement action "inappropriate and unwarranted."

Elizabeth Warren remains a big draw in the town she left last year to embark on her U.S. Senate campaign.

State bank regulators appointed Louisiana banking commissioner John P. Ducrest to serve as their representative on the Financial Stability Oversight Council.

The back-and-forth battle between banks and credit unions has been about more than tax status and business lending limits. It has also been about creative advertising.

John Walsh, who has been acting comptroller of the currency for nearly 18 months, made light of his situation Wednesday at an American Bankers Association conference.

The first director of the new Consumer Financial Protection Bureau discusses tradeoffs between enforcement and rulemaking, being responsive to consumers without being biased and the five-letter acronym known as UDAAP.

The Federal Reserve Board has entered into written agreements with two community banks: Remer Bancorp. in Minnesota and Orrstown Financial Services in Shippensburg, Pa.

Regulators have terminated a memorandum of understanding with a banking unit of Banner Corp. after the Walla Walla, Wash., company returned to profitability for 2011.

A New York foreclosure law firm has agreed to a $4 million settlement stemming from alleged abuses in their legal work, New York Attorney General Eric T. Schneiderman's office announced.

With all due respect to my friend Chris Whalen, the view from Main Street in Ashland, Missouri; Newman Grove, Nebraska or Pine Mountain, Georgia is much different than the view from the 26th floor of West 57th Street in New York City.

The Federal Reserve Board's stress test for the largest bank holding companies has been compared to a treadmill, on which patients are told to exert themselves so doctors can see how long they'll last. But, is the stress test in fact a financial analog to proven medical science so that we can indeed judge just how healthy big bank holding companies are after the Fed gets done with them?

Wells Fargo’s origination business has been operating at full steam, keeping the company’s mortgage servicing assets well above a cap proposed under Basel III. A new servicer compensation system could resolve the issue, but something has to give.

The Senate passed legislation Thursday aimed at cracking down on insider trading by members of Congress and other federal employees.

Lawmakers at House hearing voice excitement about evolving industry, but also express concern about security and regulatory gaps.

Participants at the Consumer Bankers Association meeting in Austin ranked important financiers and regulators using the model of the NCAA basketball tourney.

Steve Bartlett, who has run the Financial Services Roundtable trade group for 13 years, will retire at the end of the year.

Insurer American International Group (AIG) repaid the Treasury Department $1.5 billion, closing out its preferred equity investment, Treasury said Thursday.

Discover Financial Services' Pulse debit network posted solid gains in the first quarter, but executives say a new rule banning network exclusivity could prove a hurdle going forward.