Law and regulation

WASHINGTON — The Federal Deposit Insurance Corp. on Wednesday will hold a meeting of its advisory committee on community banking, the agency announced.

Paul Manafort, the campaign manager for the presumptive Republican presidential nominee, said Monday during a press briefing that reinstating the law, which separated commercial and investment banking, was one of the few changes Trump is proposing in the GOP platform.

The financial reform alternative proposed by Rep. Jeb Hensarling would allow bankers to be bankers rather than be so focused on regulatory compliance.

The fragmentation of the U.S. regulatory system and uncertainty around what agencies will regulate fintech firms could slow down innovation.

The Consumer Financial Protection Bureau is expected to unveil a proposal on July 28 that would regulate debt collection practices.

Regulators on Friday issued a package of long-awaited modifications to Community Reinvestment Act guidance that are designed to address the changing nature of banking products.

The Senate approved a bill Thursday by unanimous consent that includes major reforms to the Federal Housing Administration condominium loan program and the Rural Housing Service loan program.

Upcoming risk retention requirements may be the proverbial straw that breaks the back of the commercial mortgage-backed securities market.

Risk management is not limited to assessing potential successes and failures of everyday business. Strategic risk management is just as important.

American Banker readers share their views on the most pressing banking topics of the week. Comments are excerpted from reader response sections of AmericanBanker.com articles and our social media platforms.

The selection of Indiana Gov. Mike Pence as Donald Trump's running mate could clarify the presumptive Republican nominee's banking policy views, adding a policymaker to the ticket who has been outspoken about the Dodd-Frank Act, "too big to fail" and the CFPB.

The U.K.'s mobile-first Starling Bank has received a banking license from the Financial Conduct Authority and Prudential Regulation Authority.

House Republicans raked Federal Deposit Insurance Corp. Chairman Martin Gruenberg over the coals during a hearing on Thursday, repeatedly calling into question his knowledge of the agency's cybersecurity problems and the handling of those concerns.

Santander Bank will pay a $10 million fine for charging illegal overdraft fees and for signing up consumers for overdraft services without their consent, the Consumer Financial Protection Bureau said Thursday.

Lobbyists for the credit union industry are decrying a proposal to limit forced arbitration clauses despite ample evidence that credit unions don’t use such clauses in the first place.

Federal Deposit Insurance Corp. Chairman Martin Gruenberg was contrite during a House cybersecurity hearing Thursday, acknowledging that the agency failed to protect key bank data.

Congress should abandon the idea of repealing a section of the Dodd-Frank Act that has helped make pricing for payment processing more competitive.

WASHINGTON — President Obama announced Wednesday his intention to nominate John Herrera, who serves on the board of one credit union and works for another, to fill the vacancy on the National Credit Union Administration's board.

The investigation into the lack of new bank charter applications has turned into a proxy battle over the Dodd-Frank Act, with Republicans and many industry players pointing a finger at the 2010 law.

The companies agreed to divest the branches, along with nearly $738 million in deposits, to secure Justice Department approval.