Law and regulation

If banks consider licensed and regularly supervised pawnbrokers with many compliance responsibilities to be too risky to bank, then what Main Street businesses are safe?

Former Fed Chair Paul Volcker became the latest in a long line of policymakers to outline how they would choose to restructure the financial regulatory system in an effort to make it more efficient, saying "now is the time" to correct the Dodd-Frank Act's failure to simplify the system. Following are selected attempts and what they proposed.

New York bank regulator Benjamin Lawsky said his investigation into currency trading could go on for months, even after settlements with the U.S. Justice Department. Lawsky spoke at a conference in New York today.

WASHINGTON — The Federal Deposit Insurance Corp. was set to issue a proposal Tuesday that would require big banks to keep more detailed records on insured deposits to help expedite payouts in the event of a failure.

Consumers should receive the same level of protection whether they choose to do business with a bank or with marketplace lenders and other challengers.

Former Federal Reserve Board Chairman Paul Volcker said his proposal fixes a "lapse" in Dodd-Frank, but some observers are split over its significance.

Google will provide deposit insurance backing for funds stored with its wallet service, positioning the technology giant along with stored-value providers that use the FDIC's "pass-through" coverage. Here's why that matters.

Golden State regulators want to bar Internet lenders from linking electronically to borrowers' bank accounts and instead require them to accept paper checks as repayment. The proposal is a technological step backward, and it could ultimately force many online lenders to pull out of the nation's largest state.

WASHINGTON — The Consumer Financial Protection Bureau said Monday that it has ordered Fort Knox National Company to pay more than $3 million in restitution on grounds that a subsidiary hid certain fees charged to servicemembers.

The Federal Reserve, criticized by lawmakers for being too cozy with Wall Street, is considering tougher measures to restrict bank examiners from leaving to take jobs at firms they have overseen.

Banks and public interest groups are squaring off on whether the Federal Reserve Board should extend its proposed capital surcharge on the largest and most complex U.S. banks to be included in the agency's annual stress test analyses.

Former Federal Reserve Board Chairman Paul Volcker proposed a massive shake-up of the U.S. financial regulatory system on Monday that would consolidate oversight into three super regulators.

Sens. Joe Donnelly, D-Ind., and Pat Toomey, R-Pa., have unveiled legislation that would allow more community banks to qualify for an 18-month exam schedule rather than an annual one.

WASHINGTON — Consumers may see little change in the ultimate cost of Fannie Mae or Freddie Mac loans despite a restructuring of certain loan fees announced Friday by the Federal Housing Finance Agency.

A recap of the informed opinions (and the discussions they generated) on BankThink this week, including thoughts on the sale of GE Capital and how the CFPB's new mortgage disclosure forms will shake up the industry.

Hillary Clinton said Friday she had tapped Gary Gensler, the former chairman of the Commodity Futures Trading Commission, as the chief financial officer of her 2016 presidential campaign, a move that will likely bolster her credibility as a hawk on Wall Street regulation.

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.

President Obama has tapped the acting head of the Treasury Department’s anti-money laundering and terrorism office to lead the department permanently.

WASHINGTON — Sens. Thomas Carper, D-Del., and Sen. Roy Blunt, R-Missouri, introduced a bill this week that would establish national data security and notification standards.

FHFA's reduction appears likely to involve loan level price adjustments that the two government-sponsored enterprises charge borrowers and adverse market fees charged on every loan, but not a guarantee fee reduction that the industry has sought.