Law and regulation

JPMorgan Chase & Co. Chairman and Chief Executive Jamie Dimon ruled out accepting any political appointment, and said Wednesday that while the economy is getting stronger, the recovery is "stuck." Dimon also strongly disagreed with assessments that the U.S. banking industry can't grow.

PIN-based authorizations should be made compulsory for all debit and credit smart card transactions at the point of sale instead of allowing cardholder signatures to authorize transactions, a Reserve Bank of India committee is recommending.

Subprime credit card issuer First Premier Bank is suing the Federal Reserve Board and the Consumer Financial Protection Bureau over a new rule that would limit fees the issuer charges high-risk customers when opening card accounts.

Even though banks are being required by new rules to put stronger security in place for online banking, two thirds of bankers think they will never be able to get cyber crime under control, according to a Fundtech survey.

Three years after the crisis, the rules governing finance haven't changed enough to ward off fear and dread. But a giant reg coming from the Fed should bring enough clarity to prevent panic.

James Grant discusses the consequences of money printing and the prospects for returning to a convertible currency.

A little over one year ago Congress overwhelmingly passed the Wall Street Reform and Consumer Protection Act, more commonly known as Dodd-Frank. Though many parts of the bill are controversial, none has sparked more debate than Title X, which created and authorized the new Consumer Financial Protection Bureau.

William A. Cooper makes a cameo appearance in Ryan Lizza's profile of the GOP presidential hopeful.

The Federal Reserve's decision to keep federal fund rates at near zero levels until 2013 has sparked some concern by observers that banks could be in for more agony in the near future.

Federal agents arrested four Florida men Tuesday on charges that they scammed thousands of homeowners who were seeking loan modifications, according to authorities.

The downgrade of U.S. debt is likely to push regulators to fulfill a Dodd-Frank mandate to find alternatives to credit ratings, but it won't be easy.

The Federal Open Market Committee decided to leave its target rate unchanged at 0.0-0.25% and said "downside risks to the economic outlook have increased" and economic conditions "are likely to warrant exceptionally low levels for the federal funds rate at least through mid 2013."

American Banker offers tough questions for hedge fund manager Bruce Berkowitz to put to the embattled Bank of America CEO on Wednesday. Add your own queries to our list.

Unlike grading corporate credits, rating big countries is thoroughly ridiculous. We can all look at the same budget numbers and assess the political prospects as well as any rating agency.

WASHINGTON — The Senate Banking Committee has begun gathering information about Standard & Poor's decision to downgrade U.S. government debt, according to a committee aide.

A downgrade of the U.S. government's credit rating is raising the question of whether some of the biggest banks may be next.

WASHINGTON — As the stock prices of the big banks cratered on Monday, particularly for Bank of America Corp., pundits and industry observers began worrying that a second financial crisis was in the offing, including the possibility of the failure of a large financial institution.

The downgrading of the government to double-A-plus was not only correct but overdue. If anything, S&P should have taken Uncle Sam down to double-A-minus, given the deadlock over revenues and spending.

Bill Gross, manager of the world's biggest bond mutual fund, said Standard & Poor's showed "spine" by cutting the U.S. debt rating, contradicting Warren Buffett and Legg Mason Inc.'s Bill Miller, who said the rating company erred.

PE firm Gores Group unveils its payments reader strategy for Hypercom's U.S. payments terminal business