Law and regulation

Federal financial regulators have instructed banks to extend procedures for collecting customer identification information to certain holders of prepaid cards.

Capital Bank Financial in Charlotte, N.C., will record a first-quarter $5.5 million net loss, after it agreed to an early termination of its loss-share agreements tied to three failed banks.

The Consumer Financial Protection Bureau faces a tough balancing act as it seeks to issues a proposal to rein in high-cost payday loans. A chief concern is what will replace payday lenders if federal regulations force many of them to shut down.

Some believe the capital markets need prudential regulation to protect the system from danger, but here's why that is a false assumption.

In a blow to community groups that had opposed the acquisition, the Federal Reserve on Monday approved the application by Goldman Sachs to acquire roughly $17 billion in online deposits from GE Capital.

The Supreme Court on Monday asked the Obama administration to express its views in a case that has raised doubts about the business model used by many online lenders.

In an interview with American Banker, KeyCorp Chief Executive Beth Mooney discusses why the bank struck a $16.5 billion agreement to expand low- and moderate-income lending, and details of the negotiations involved.

The Federal Reserve Board has terminated enforcement actions issued in 2010 against American Bank of Baxter Springs in Kansas and CB Financial in Wilson, N.C., and issued an enforcement action against Hazard Bancorp in Kentucky.

As servicers downsize their loss mitigation units, housing counselors are finding the companies' designated points of contact are less experienced, making it more difficult to get packages approved for troubled borrowers.

The Consumer Financial Protection Bureau claimed victory Friday in resolving a long-standing lawsuit against the bankrupt Nevada debt-relief company Morgan Drexen, which preemptively sued the agency in 2013.

Rep. Patrick McHenry, R-N.C., is readying a package of bills, one of which could provide financial tech firms with national standards, so that they wouldn't have to comply with the various state regulations.

Comptroller of the Currency Thomas Curry said today that the existing framework for assigning Community Reinvestment Act assessment areas based on branches will have to be reconsidered "sooner or later."

House Financial Services Committee members asked CFPB Director Richard Cordray tough questions this week — but they let their own theatrics trump substance, using their time to berate the CFPB chief rather than engaging in substantive discussion.

The Independent Community Bankers of America and the Credit Union National Association sent a joint letter to the Financial Accounting Standards Board urging changes to a proposal to alter how financial institutions establish reserves for loan losses.

Creating a bipartisan commission to manage the Consumer Financial Protection Bureau will make the agency's rules longer-lasting and place needed checks on the director's authority.

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.

A cybersecurity panel at the Women in Finance and Technology Symposium Thursday explored ways to enhance communication and collaboration between different branches of government working to strengthen the nation's cyberdefenses.

The Office of the Comptroller of the Currency has named a new head of banking supervision and a compliance and community affairs deputy.

Atlantic Bancshares in Bluffton, S.C., has raised about $4 million to redeem shares issued through the Troubled Asset Relief Program.

As one of the most antagonistic lobbying battles in Washington escalates -- where financial institutions like JPMorgan Chase and Visa are sparring with companies such as Walmart over credit card swipe fees -- a powerful ally is again sticking up for the retailers.