Law and regulation

The Fed governor said systemic risk could be a factor, but not the entire reason an acquisition is rejected. His comments come as the central bank weighs whether to block the merger of Capital One and ING.

The Federal Reserve Bank of Kansas City named Esther George, its No. 2 official, as president to succeed Thomas Hoenig, the U.S. central bank's longest-serving policy maker, who is retiring.

United Kingdom-based Ryanair Ltd. is giving consumers the opportunity to avoid what have become controversial airline booking fees when tickets are purchased with plastic.

In his first speech, Raj Date, the defacto head of the Consumer Financial Protection Bureau, warned banks and other financial firms that the bureau will use its enforcement authority to crack down on harmful practices and services and suggested the agency would be scrutinizing overdraft fees.

A Fannie Mae announcement late Wednesday heaping praise on the highest-rated mortgage servicers was notable for its glaring omissions: Bank of America Corp., JPMorgan Chase & Co., and five other large banks did not make the list.

The same uncertainties about the economy, capital rules and other matters that are slowing deal activity could ultimately prod sellers to give in. The question is when.

Tax-preparation company H&R Block, Inc. said this week that it did not have a "compelling reason" to offer refund anticipation loans during the upcoming 2012 tax season — but the decision was out of its hands. Federal banking regulators last year effectively killed H&R Block's tax refund loan business.

Housing advocates and industry representatives said reducing the number of foreclosure properties and preventing new foreclosures is key to economic revival.

WASHINGTON — The Department of Labor said Wednesday it ordered Bank of America Corp. to pay $930,000 to an employee improperly fired in a whistleblower case.

The Securities and Exchange Commission is reviewing a regulatory exemption for mortgage real-estate investment trusts. If the SEC decides to lift the exemption, mortgage REITs could become unprofitable, and an important source of liquidity for the housing market could dry up, analysts say.

The American Bankers Association is calling on the Treasury Department to provide more details about rejected applications for the Small Business Lending Fund.

The clock is running down on investors looking to sue the nation's biggest banks over now-soured mortgage-backed securities.

The Federal Deposit Insurance Corp. plans to close its temporary suburban Chicago office next September, nine months earlier than expected.

A bankruptcy judge Tuesday rejected Washington Mutual Inc.'s Chapter 11 plan for a second time, finding the company was too generous with senior creditors.

John Koelmel, head of fast-growing First Niagara, found himself literally and figuratively in the middle of the jobs debate.

An interview last week with Federal Reserve Bank of Kansas City President Tom Hoenig yielded more than we could fit into our story on his plan to tighten up the federal safety net. Here's what else was on the regulator's mind.

After 38 years with the Fed, Tom Hoenig is convinced less complexity is the key to taming systemic risk.

Sixty-one small banks will receive a total of $608 million in the latest round of funding from the Small Business Lending Fund, the Treasury Department said Wednesday.

Simone Lagomarsino reflects on the divisive debate on whether credit unions should be allowed to raise capital. Backers view such a move as a necessity for struggling credit unions, while detractors worry that it could cost the industry its tax-exempt status.

Despite an increase in the number of cyber attacks, losses to financial institutions and their customers have fallen over the last 18 months.