Law and regulation

Once the government makes the decision to prosecute, it's often to the fullest extent of the law — unless, of course, you head up a megabank.

Payday lending activity increased in California last year, but the size of loans and fees charged both declined, according to a new report from California's banking regulator.

Six banks including JPMorgan Chase and Wells Fargo have been placed under further business restrictions after the Office of the Comptroller of the Currency determined they had yet to fully meet regulatory orders related to the independent foreclosure review which began in 2011.

Whether you're in the mood to read about the checkered history of the Vatican Bank or how Bitcoin's colorful cast of characters endeavor to shape the future of money, there's a book to suit every taste in this year's recommended reading list. Here's what American Banker's readers, staff and BankThink contributors are taking to the beach this summer.

The FDIC is proposing a complicated and expensive record-keeping requirement to prepare for the unlikely event that it liquidates a large failed institution instead of transferring its deposits to another bank.

The Federal Deposit Insurance Corp. is set to revamp deposit insurance premiums to make them more risk-sensitive, targeting areas that caused institutions to fail during the financial crisis.

Six regional banks have reported their stress-test results under Dodd-Frank for the first time, projecting Tier 1 common equity ratios ranging from 8.04% to 11.4% after an economic shock. However, several also projected multimillion-dollar losses during the stressful period.

Some argue that nonbank mortgage lenders' rising market share poses a risk to the financial system. But this belief arises from an inaccurate understanding of what is in fact a well-regulated sector.

Banks with assets totaling between $10 billion and $50 billion have begun publishing the results of their Dodd-Frank Act mandated stress tests this week and will continue to do so through the end of the month, providing a new window into the workings of regional institutions.

WASHINGTON — The Federal Deposit Insurance Corp. unveiled a proposal Tuesday that would change the calculus used in determining assessment fees for small banks, resulting in most of those institutions paying less in premiums.

Bank of Mingo in Williamson, W.Va., will pay a total of $4.5 million in fines and legal settlements after it was investigated for violating anti-money-laundering laws.

More than a year after the CFPB revamped its employee rating system following allegations of discrimination, Equal Employment Opportunity complaints have surged and the agency faces ongoing accusations of bias and retaliation against workers who speak out.

California Gov. Jerry Brown violated state law by diverting more than $331 million in mortgage settlement funds for uses unrelated to housing, a Superior Court judge ruled.

House lawmakers plan to introduce a bill Monday to delay a controversial risk-based capital proposal for credit unions that would require regulators to further study the issue before finalizing the plan.

The cumbersome regulations for prepaid products proposed by CFPB could reduce market competition, discourage innovation and effectively cut off many Americans' participation in the digital economy.

Multinational banks that delay preparation for the European Union's proposed General Data Protection Regulation could pay a steep price: hundreds of millions of dollars in fines.

Sen. Elizabeth Warren shot back at criticism from JPMorgan Chase CEO Jamie Dimon, saying bankers don't dislike her because she knows too little but because she knows too much.

A recap of the informed opinions (and the discussions they generated) on BankThink this week, including the pitfalls of using alternative data to score "credit invisibles" and whether Benjamin Lawsky's successor should play nice with big banks.

WASHINGTON — A bipartisan cybersecurity bill backed by the financial industry failed to clear a key procedural hurdle Thursday evening, raising fresh questions about when or if the legislation can advance past the Senate floor this year.

Almost two-dozen banks in New York City do not appear to offer or widely advertise basic checking accounts, although state law requires it, the New York City Comptroller said Friday.