Law and regulation

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.

Startups, including one in the virtual currency field, have approached the Office of the Comptroller of the Currency about applying for banking charters, the agency's chief counsel said Thursday.

President Obama put pressure on regulators this week to finish their long-delayed rule governing executive compensation, but by the time it gets implemented, much of the work may have already been done.

It could take months before lawmakers approve a successor for departing NCUA Chairman Debbie Matz, and industry observers believe issues like supplemental capital could be on hold until that replacement takes office.

The Senate Banking Committee approved the nomination of a top Treasury official in charge of stopping terrorism financing and financial crime during an executive session on Thursday.

That is the message from North Carolina's banking commissioner and others who think the odds of preventing the rule are so low, and the amount of preparation needed to comply so great, that bankers should get real.

Foreign banks including HSBC and Deutsche Bank are pushing back against the Federal Reserve's proposals on implementing rules designed to end too-big-to-fail, saying they are burdensome and unfair to the U.S. units of the world's biggest lenders.

Not only are widening credit spreads for both banks and the companies they lend to a red flag, but the financial sector is also feeling a hit from lower energy prices.

A mature governance framework and risk culture that reaches all employees are among the attributes of a high-functioning "risk organization."

Hillary Clinton said she would consult with Sen. Elizabeth Warren, D-Mass., on any choice for Treasury secretary.

Sen. Sherrod Brown is pressing the Federal Communications Commission to limit the number of calls collectors of government-backed debt can make to delinquent borrowers. His appeal comes at a time when banking groups are challenging earlier robo-calling regulations that they say inhibit their ability to collect debt.

CFPB Director Richard Cordray said the agency has limited resources to go after bad actors for deception or fraud and consent orders are the most effective way to shape industry practices.

While this presidential race seems to change by the minute, some bankers are beginning to worry that an increasingly likely Donald Trump nomination could threaten GOP control of the Senate and key industry priorities.

BB&T's last stab at preserving $500 million in foreign tax credits has been denied by the U.S. Supreme Court.

Having served as a holdover since her term expired last spring, Debbie Matz announced she will be departing the agency at the end of next month.

The Consumer Financial Protection Bureau is clamping down on student loan lenders and servicers that automatically default on loans when a co-signer declared bankruptcy or dies. Because private student loans are often sold and securitized, some companies' promises to eliminate so-called "auto defaults" are not being upheld.

Federal Reserve Board Gov. Lael Brainard's contributions to Hillary Clinton's 2016 presidential campaign is drawing the ire of some members of Congress who already question federal regulators' political autonomy.

Regulators want to know how banks are planning for the future, particularly in the face of competitive threats such as marketplace lending and added scrutiny over the use of third-party vendors.

There is an urgent need for the Financial Crimes Enforcement Network to bring its process for issuing civil money penalties and cease-and-desist orders in line with the other bank regulators.

The "too big to fail" debate raises a critical question that is seldom asked, much less answered: Do megabanks serve a critical function that justifies their undeniable risk to the financial system?