Law and regulation

Departing New York state regulator Benjamin Lawsky revealed the final version of the BitLicense, the regulatory framework for digital currency businesses his department has developed over the past 18 months.

t's no grace period, but the Consumer Financial Protection Bureau is working placate lender fears of hasty enforcement of its new integrated disclosure rules.

The "too big to fail" problem can't be solved with living wills and orderly liquidation. Rather, a structural solution is needed to reduce the size of mega-institutions.

Community bankers are up in arms after one of the largest core processors told institutions it will likely raise costs because of a data collection effort undertaken by the Consumer Financial Protection Bureau.

As the first legal briefs are filed in MetLife's challenge to FSOC's decision to designate the life insurance giant as systemically risky, the interagency council and outsiders are pointing to the high bar the company has to clear to convince the court to overturn the decision.

FICO discards incomplete and old credit history information for a good reason. The solution to today's credit-access problems is not to use this unreliable data but to turn to alternative data such as the payment of everyday bills.

Access to credit is too tight. But new credit-scoring models could increase the number of eligible borrowers in the U.S. without weakening today’s underwriting parameters.

Sen. Elizabeth Warren, D-Mass., sharply criticized Securities and Exchange Commission Chair Mary Jo White on Tuesday, asking for details about the agency's enforcement actions and the implementation of key Dodd-Frank Act rules.

Banks and mortgage lenders are in the final stretch of preparing to deliver new TILA-Respa Integrated Disclosures to homebuyers starting Aug. 1. But it's not just the change of forms that is causing alarm bells. Fines could be steep, and legal liability could be even higher, for violators, while necessary technological changes are expensive, they say.

The structuring law that former U.S. House Speaker Dennis Hastert stands accused of violating highlights how federal prosecutors use the banking system as leverage.

Newly elected Rep. French Hill knows firsthand what it's like to lead a bank through a crisis and implement the sometimes complex rules of Dodd-Frank. That knowledge may prove key as he battles to make regulation simpler for small banks.

The Federal Reserve Board issued an enforcement action against State Street requiring the bank to beef up its anti-money-laundering and Bank Secrecy Act compliance measures within 60 days after finding the existing protocols were insufficient.

U.S. banks enjoyed their ninth straight quarter of total profits exceeding $35 billion, according to the Federal Deposit Insurance Corp.'s first-quarter report on the industry's health. The FDIC said the growth in net income was "broad-based", spurred by a solid increase in net operating revenue, while community banks once again outpaced the industry at large. Here are some key takeaways.

IMGCAP(1)]

The Federal Reserve Board on Friday announced the appointment of a senior official at the Federal Reserve Bank of Chicago to lead the central bank’s efforts to improve the national payments system.

The Federal Reserve Board on Friday announced the appointment of a senior official at the Federal Reserve Bank of Chicago to lead the central bank’s efforts to improve the national payments system.

Former Wells Fargo Chief Executive Richard Kovacevich on Friday said that "regulation is killing small banks."

A recap of the informed opinions (and the discussions they generated) on BankThink this week, including a call for a small-business loan brokers' code of ethics and why Congress needs to level the playing field for investors in bank obligations.

Bank of America has been ordered to pay a $30 million civil money penalty on allegations that it wrongfully used documents in litigation for debt collection and violated a law protecting members of the military and their families.

When New York-based private-equity firm Veritas Capital picked Jefferies Group this month to manage a $1.4 billion buyout loan, it passed over some much bigger Wall Street firms. Names like Morgan Stanley and Barclays and UBS.