Law and regulation

Banking and credit union trade groups sent a joint letter Friday urging members of the Senate Banking Committee to move forward on bipartisan regulatory relief legislation ahead of a markup next week.

A recap of the informed opinions (and the discussions they generated) on BankThink this week, including the financial inequalities exposed by the Baltimore riots and whether the changes to Dodd-Frank proposed in Sen. Richard Shelby's regulatory relief plan go too far.

Nomura Holdings and Royal Bank of Scotland should pay $806 million in damages to government-owned mortgage companies over misleading securities pitches, a federal housing agency told a judge.

The owner of an Ohio-based loan administrator, accused by the Consumer Financial Protection Bureau of deceptive marketing, says he is the victim of a misguided lawsuit by the agency.

So far, Washington has generally smiled on tech-driven lenders such as Lending Club and OnDeck. But many in the fast-growing industry are now bracing for closer scrutiny.

WASHINGTON — Former Federal Reserve Board Chairman Ben Bernanke is pushing back against a bipartisan proposal to rein in the agency's emergency lending powers.

The Department of Education issued a proposal Friday that would tighten restrictions on the types of arrangements that colleges can enter into with banks to disburse federally guaranteed loans to students.

The Federal Housing Finance Agency provided more details Friday about key features for the new single security that will be issued by Fannie Mae and Freddie Mac.

Sen. Richard Shelby's attempt to reform Dodd-Frank could ease key bank regulations that improve the safety and soundness of big banks. That would be an immense disservice to the American taxpayers who might bear the cost of the changes with future bailouts.

The multifamily market is heating up as apartment owners and investors refinance in a rush to lock in low interest rates, but caps on government-backed lending programs are threatening to disrupt momentum.

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.

JPMorgan Chase has to plead guilty to an antitrust charge if it wants to resolve the Justice Department's investigation into its foreign-exchange trading activities, the company said in a regulatory filing Thursday.

Banks and consumer groups are both eagerly awaiting an FCC decision about whether to loosen federal restrictions on robo-calling consumers. A $10.2 million settlement announced this week involving JPMorgan Chase brought the issue back to the forefront.

On the same day the Consumer Financial Protection Bureau announced a probe into student loan servicing practices, stakeholders ranging from the Department of Education to borrower advocates outlined their wish lists for reforms.

Despite years of debate, lawmakers are still grappling with key questions over how to set enhanced data security and notification standards to prevent cyber attacks, including whether they should preempt state laws.

State Street Corp. said it expects to face an enforcement action by the Federal Reserve and the Massachusetts Division of Banks after it failed to comply with the Bank Secrecy Act, anti-money laundering rules and U.S. economic sanctions.

BB&T's transaction with Barclays to generate tax credits was "simply a money machine" with no economic purpose and can't be used to seek hundreds of millions of dollars in U.S. tax rebates, an appeals court ruled Thursday.

Other regional Federal Home Loan Banks are lining up so their members can securitize FHA and VA loans through Chicago FHLB conduit.

Vendors that specialize in Bank Secrecy Act compliance can help ease community banks' regulatory burden while strengthening their controls.

The consumer watchdog says it is taking a closer look at various practices associated with student loan servicing as other regulators and analysts grow increasingly wary about the vast amount of non-dischargeable debt in the economy.