Law and regulation

Hundreds of lawmakers from both sides of the political aisle are pushing for the Consumer Financial Protection Bureau to grant a grace period for banks, credit unions and other lenders to comply with a new mortgage disclosure rule.

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Last month's unrest in Baltimore once again cast the spotlight on the negative cycle of crime, violence and poverty that plays out in many American cities and counties. So why aren't banks directing more of their investment dollars into the neighborhoods that need it the most? And can Community Reinvestment Act reform help push them in that direction?

The Clinton Foundation has generated at least $1 million in fees from six large banks, as payment for speeches made since 2002 by Democratic presidential candidate Hillary Clinton, former president Bill Clinton and Chelsea Clinton.

A recap of the informed opinions (and the discussions they generated) on BankThink this week, including the merits and drawbacks of Sen. Richard Shelby's regulatory reform legislation, whether bigger banks are inherently riskier and banks' evolving interest in blockchain technology.

Proposed new rules from the CFPB could wind up forcing banks out of the small-dollar lending business, leaving cash-strapped consumers with fewer borrowing options.

Fannie and Freddie's profits depend on having their obligations backed by the U.S. Treasury. Therefore they should have to pay a sensible price for this backstop — just like big banks.

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 from our social media platforms.

First United in Oakland, Md., will exit the Troubled Asset Relief Program after winning an auction to repurchase a warrant from the U.S. Treasury Department.

WASHINGTON — The Office of the Comptroller of the Currency has no plans to review the charters of JPMorgan Chase or Citicorp following their agreement to plead guilty to criminal charges related to currency rigging, according to Comptroller Thomas Curry.

WASHINGTON — The Federal Reserve Board proposed a change Thursday to its recently finalized liquidity rules for the largest U.S. banks that would allow certain municipal and state bonds to qualify as high-quality liquid assets.

Last year the mail carrier's office of inspector general suggested a potential expansion into small-dollar lending, but the ambitions laid forth in a new report have been scaled back considerably.

Lawmakers on the Senate Banking Committee may still stand divided on regulatory reform, but Thursday's markup points to ongoing desire for a way forward.

The Federal Reserve Board is taking public comment on whether to require member banks to move to same-day payments after an industry group voted to mandate faster payments among the nation’s 12,000 financial institutions.

The Federal Reserve Board Thursday said that it is taking public comment on whether to require member banks to move to same-day payments after an industry group voted to mandate faster payments among the nation's 12,000 financial institutions.

It took three or so days to settle stock trades. What if that could happen instantly and be recorded on a blockchain for everyone to see?

WASHINGTON — The Federal Deposit Insurance Corp. is scheduled to release the Quarterly Banking Profile for the first quarter of 2015 on May 27.

Promontory said Wednesday that it acquired FS Advisory from Date, who founded the consulting practice along with Fenway Summer in 2013 after leaving the Consumer Financial Protection Bureau as deputy director.

The Senate Banking Committee approved a broad regulatory reform bill Thursday on party lines, with lawmakers on both sides of the aisle vowing to continue negotiations this summer.

The government agency that proposed a controversial expansion by the U.S. Postal Service into financial services now acknowledges that its big ideas would probably require the passage of new legislation.