Law and regulation

Team,

Rather than pushing hard for repeal, congressional Republicans are taking a small-bore approach in their opposition to the 2010 reform law.

A minimum credit score would not cap or regulate risk, or even measure it consistently. Instead it would ensure that the risk floor for QRMs would actually fluctuate.

If I came across a borrower who is deep in debt and whose obligations exceed their income and yet continues to borrow to service those obligations, I would not consider them a good risk.

WASHINGTON – The Senate Banking Committee will hold a hearing next Thursday on the nomination of Richard Cordray to head the Consumer Financial Protection Bureau.

Market evolution in recent decades has made it harder and harder for smaller institutions to access capital. Meanwhile, regulatory restrictions impede alternatives that could fill the void.

Under the Dodd-Frank Act, the National Futures Association is set to take on a good deal more authority over the swaps and derivatives market.

Herb Allison recently spoke to American Banker about his new e-book, "The Megabanks Mess." Here is an edited transcript of the interview:

The agency's final rule contains glaring legal errors and whitewashes the role preemption played in enabling the lending excesses that precipitated the crisis.

Hell-bent on protecting its dominant share of the U.S. debit card market amid new regulations, Visa Inc. introduced pricing incentives for merchants to route more transactions over its network.

If banks can track borrowers' interest rates and terms, how hard can it be for them to track which borrowers are serving in the military?

Herb Allison, the former president of Merrill Lynch, head of Fannie Mae, and top Treasury official, says there is only one way to end "too big to fail."

Federal banking regulators are preparing guidance to address issues if the debt ceiling is not raised before Aug. 2, while large bank CEOs are calling for action.

After two years in court, the many legal fights over banks’ overdraft practices have produced a national class action against Union Bank of California. And in a move that may put more pressure on banks, plaintiffs’ attorneys have moved to unseal records in the case.

In an overdraft class action, plaintiffs' attorneys moved to unseal records in the case. This move could prompt greater public scrutiny of banks' motives.

Visa's fiscal third-quarter net income rose 40.4% due partly to a gain from the revaluation of a deal with Visa Europe.

Bank regulators told Congress Wednesday they are encountering problems as they seek to implement a provision of last year's financial reform law aimed at lessening the importance of credit rating agencies.

Foreign entities could account for roughly half of reserves booked at the Fed, but, recently, wavering confidence in European banks appears to have channeled some reserves to domestic banks.

The central bank's survey finds improved loan demand in New York, Richmond and Chicago, while other areas lagged behind.

Jim Grant discusses public policy and industry consolidation.