Law and regulation

The Department of Education on Tuesday finalized a set of rules that will restrict certain banking practices for federal student loan servicers.

The Senate approved a key cybersecurity bill Tuesday after several days of debate on the chamber floor — and several years of lobbying by business groups, including bankers.

Several large banks have already embraced standards released Tuesday by a consumer advocacy group laying out how institutions can offer safe, entry-level financial services.

Rep. Paul Ryan’s expected election as House Speaker this week may ultimately prove a boon for the banking industry — especially for critics of the Dodd-Frank Act and the current mortgage finance system.

First Northern Community Bancorp in Dixon, Calif., has exited the Small Business Lending Fund.

The Democratic candidate insists “too-big-to-fail” banks are bigger than they were during the crisis, but their true sizes are masked by off-balance sheet reporting.

Federal Reserve Chair Janet Yellen is scheduled to testify before the House Financial Services Committee next week on the central bank’s regulatory activities.

PricewaterhouseCoopers has hired a former FBI deputy director to lead a new consulting group to address financial crime issues.

First Horizon National Corp. in Memphis expects to be fined up to $11.5 million by federal arbitration panel, in a dispute over its sale of preferred-term securities to First United Corp. in Oakland, Md.

Banks should be prepared for the potential that an investor with a growing stake does not have the institution’s interests at heart.

New York’s attorney general called on more than 90 banks including units of Toronto-Dominion Bank and HSBC Holdings to revamp customer screening procedures to give poor people better access to financial services.

The financial condition of the Federal Housing Administration’s mortgage insurance fund has improved “significantly” over the past year, Department of Housing and Urban Development Secretary Julian Castro predicted late Monday.

The acting head of New York’s Department of Financial Services will step down before the end of the year, giving New York Governor Andrew Cuomo a run at reshaping a regulator that has levied billions of dollars of penalties against international banks and at times raised hackles in foreign capitals.

The Federal Deposit Insurance Corp. recently held meetings with state regulators in which agency officials emphasized that they are open to new applicants, responding to criticism that the standards for granting deposit insurance have been too high.

Recent industry’s analysis of the credit market is too good to be believed or sustained, which should raise red flags for everyone.

Legislation would require GAO to study the impact the FHFA membership rule would have on the FHLB System and its members.

Consumer Financial Protection Bureau Director Richard Cordray issued a public rebuke of RushCard on Friday, warning that it must rapidly fix technical glitches that have left customers locked out of their accounts.

Community organizations and the banking industry are advancing dueling visions for how to reach the unbanked, with community groups asking regulators to strengthen existing rules while community banks want to lighten their regulatory burden so they can extend their services.

Lawmakers and industry groups are urging FHA to update condo rules to provide more homeownership opportunities for first-time buyers.

The Federal Reserve Board will hold a public meeting Oct. 30 to discuss a proposal that would require the largest and most systemically risky banks to hold capital and unsecured debt to protect taxpayers from issuing bailouts if they should become distressed.