Law and regulation

For years, banks and Wall Street have argued that over-regulation will drive the financial services industry overseas, a claim that has rung hollow as such a scenario has so far failed to materialize.

WASHINGTON — As Washington's banking-policy community was focused on the first anniversary of the Dodd-Frank Act, one important player in the law's passage was noticeably absent.

WASHINGTON — The Senate Banking Committee hearing on Thursday was dryly titled "Enhanced Oversight After the Financial Crisis: The Wall Street Reform Act at One Year." For the first 20 minutes, a catchier and perhaps more apt name would have been "The Barney Frank Show."

WASHINGTON — After more than 26 years as a lobbyist for the American Bankers Association, Floyd Stoner plans to retire at the end of the year.

A five-time, undefeated Jeopardy! champion who was tapped to monitor banks' compliance with consumer rules. Who is Richard Cordray?

With loan demand still weak in many areas of the country, more and more bankers are starting to believe that their banks will need to merge with other institutions to achieve meaningful growth.

WASHINGTON — House Republicans celebrated the Consumer Financial Protection Bureau's first day by advancing a bill that would dilute the bureau's authority.

New report from the Federal Reserve estimates the cost to consumers last year for using government prepaid cards.

The Consumer Financial Protection Bureau sent letters Thursday to the 111 large banks it plans to supervise, outlining its approach to bank supervision and enforcement.

On the one-year anniversary of the Dodd-Frank Act, Democratic lawmakers and key financial regulators called on Congress to resist Republican efforts to cut funding to implement and enforce the law's sweeping new regulations.

Federal Reserve Bank of Chicago President Charles Evans said he would back a more explicit pledge by the central bank to keep interest rates low if the third quarter proves to be weak, and doesn't rule out the possibility that near-zero rates will rise after mid-2012.

The Treasury Department has ordered board appointments to two banking companies that have missed dividend payments on its bailout investments.

Six Federal Home Loan banks have launched a salvo against Bank of America Corp.'s proposed $8.5 billion mortgage bondholder settlement, suggesting the payout may need to be triple that amount.

WASHINGTON — As regulators continue to implement the Dodd-Frank Act one year after its passage, a key backer of financial reforms in the Senate warned "the battle is not over."

Banks are moving closer to getting the threshold raised for SEC stock registration.

Maryland's District Courts are putting a halt to an estimated 900 collection lawsuits after Catonsville, Md.-based Sunshine Financial Group, the company that filed them, failed to get a license.

The Consumer Financial Protection Bureau established by the Dodd-Frank Act will open its doors on July 21. The new bureau will have broad responsibility for enforcing a wide range of laws against people and companies that provide financial products and services.

WASHINGTON — Despite his past as a state regulator, Thomas Curry signaled intent Wednesday to listen to both sides in the preemption debate if confirmed as comptroller of the currency.

Wells Fargo will pay an $85 million civil penalty for misleading borrowers into taking out costly subprime loans and approving loans they were not eligible to receive, the Federal Reserve Board said Wednesday.

The Office of the Comptroller of the Currency admitted Wednesday the Dodd-Frank Act may be a better guide than the agency's own rulemakings on its preemption authority.