Law and regulation

We revisit some of the best comments readers posted in 2015. Comments are excerpted from reader response sections of AmericanBanker.com and BankThink.com articles, except where noted.

WASHINGTON — The Bancorp Bank in Wilmington, Del., has agreed to pay $4.3 million on charges brought by the Federal Deposit Insurance Corp. that the prepaid card issuer deceived consumers.

The Treasury Department took a step forward Wednesday toward finalizing a highly anticipated customer due diligence rule that is expected to cost financial institutions and their customers between $700 million and $1.5 billion over the next 10 years.

Participants in an alleged credit card laundering scheme have agreed to settle Federal Trade Commission charges that they illegally helped provide access to payment networks, thereby enabling scammers to place bogus charges on consumers’ credit cards.

The Federal Deposit Insurance Corp. announced settlements Wednesday with student banking business Higher One of New Haven, Conn., and WEX Bank of Midvale, Utah, for deceptive practices in the marketing of college and university debit accounts.

The Federal Deposit Insurance Corp. announced settlements Wednesday with student banking business Higher One of New Haven, Conn., and WEX Bank of Midvale, Utah, for deceptive practices in the marketing of college and university debit accounts.

Privacy advocates were appalled by the cybersecurity act Congress passed in the omnibus spending bill, with its abandonment of data-privacy provisions that existed in earlier versions. Now consumer and business-client privacy is at the discretion of the banks and other private companies.

Regulators' recent focus on the leverage ratio to measure capital adequacy is similar to a golfer ignoring the shape, speed and cut of a putting green.

The ease with which Congress was able to take money from the Federal Reserve to pay for a highway transportation bill — by slashing the dividend the central bank pays large banks — is likely to encourage lawmakers to take another dip into the Fed's books next year.

The Federal Housing Finance Agency appears to be on course to decide next year whether Fannie Mae and Freddie Mac should update their credit scoring models.

Both banks and Wall Street critics support a new Fed proposal to implement a countercyclical capital buffer on megabanks, but the two sides diverge on when and how the Fed would use it.

Sen. Charles Schumer, D-N.Y., has asked for more time for public comment on KeyCorp's proposed takeover of First Niagara Financial Group, and said more study is needed on the deal's potential economic impact on western New York.

A healthy bank culture can only be built from within, rather than as a compliance exercise to satisfy regulators.

Finally released from a long-standing regulatory order, FNBH in Michigan is looking forward to ramping its lending, expanding its capabilities in wealth management and moving forward on plans to revamp its core processing system.

The Federal Housing Finance Agency is giving private mortgage insurers some hope this holiday season that they might get a change to offer deeper mortgage insurance on Fannie Mae and Freddie Mac single-family loans.

WASHINGTON — Third quarter bank trading revenue fell 5% from last year to $5.3 billion as equity trading underperformed, according to a report issued Monday by the Office of the Comptroller of the Currency.

Some mortgage investors are refusing to buy home loans that are at risk of violations of new consumer-disclosure rules. The problem appears to be worst among nonagency jumbo loans purchased by private investors.

The Federal Reserve issued a proposal Monday outlining a framework to implement a countercyclical capital buffer for the largest and most internationally active banks, a key part of Basel III that has until now lacked any details.

Three banks have redeemed shares of preferred stock to make their exits from the Small Business Lending Fund.

WASHINGTON — The House and Senate have approved major spending and tax packages, which are now en route to the White House to be signed into law.