Law and regulation

WASHINGTON — The Office of the Comptroller of the Currency has named Michael Brickman as deputy comptroller for special supervision.

The Supreme Court gave borrowers the path to file a rescission notice without going to court, but experts expect more banks to initiate legal proceedings to stop rescissions they see as frivolous.

The Fed appears to have looked at Bitcoin as a means for real-time payments in the banking system but shelved the concept for now.

The Federal Reserve System released a detailed vision Monday for improving the speed of the U.S. payment system.

The Federal Reserve System released a detailed vision for improving the speed of the U.S. payment system. It is latest step in a process meant to spur change at a time when the country has fallen far behind many nations that have adopted real-time payments.

Federal Reserve officials have been calling on banks to strengthen their ethical cultures. The message will carry more weight if regulators are willing to turn the spotlight on their own practices.

Janell Thompson and Katarina Maloney say choosing the "wrong" name for their company was all it took to run afoul of banks and be labeled as co-owners of a high-risk business.

A plan to tax the liabilities of systemically important banks could help curb risk to the financial system, but the president and Congress should first consider more realistic asset thresholds.

The Illinois Department of Financial and Professional Regulation closed the $54.7 million-asset Highland Community Bank in Chicago on Friday.

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Early signs point to a wave of Federal Housing Administration borrowers trying to tap into lower prices for mortgage backing.

The Justice Department has subpoenaed another subprime auto lender as it extends its investigation into the industry.

Seaway Bank and Trust in Chicago has entered into a consent order with state and federal regulators.

The Consumer Financial Protection Bureau on Friday announced four appointments to the agency’s leadership team

The focus on raising the $50 billion-asset threshold determining which banks face the toughest provisions is highlighting interest in letting more community banks enjoy exemptions written into the law.

MasterCard will remove the current block on U.S.-issued card transactions in Cuba starting March 1, 2015.

Hacker groups like Anonymous have announced plans to target banks that are helping to finance ISIS and other terrorist organizations. But it is governments, banks and regulators that need to work harder at rooting out the sources of ISIS's funding.

WASHINGTON — Wells Fargo and JPMorgan Chase could face more than $35 million in penalties and restitution for allegedly receiving data on consumers and other services in return for directing customers to a Maryland-based title company.

The consumer bureau and Maryland's AG allege the loan officers received consumer data and other services in return for business referrals.

BB&T plans to add more than $20 billion in assets this year through three pending acquisitions. Management, which believes it should have no problem getting its deals approved, has started to improve how it monitors its liquidity capital ratio before new thresholds kick in.