Law and regulation

The National Credit Union Administration's three-member board split along party lines on Thursday in its approval of a $279.5 million operating budget for next year.

Federal Reserve Board Gov. Daniel Tarullo said the agency wants to enforce its liquidity rules in such a way as to ensure that accumulated capital can be deployed in times of economic stress.

A prominent labor group is pressing big banks and investment companies about their payment practices for executives who leave for government service.

The overly complex Dodd-Frank Act came about because policymakers failed to tie regulation and regulatory structure together effectively. The next step in financial reform should be to simplify — and perhaps consolidate — regulatory processes.

Regulators are threatening more action to force improvements in the behavior of bank employees, but executives are shooting back that the task is easier said than done and that change has to come from inside and not through supervisory orders.

A government tool for unloading failed bank assets and minimizing FDIC losses may be used as a vehicle to publicly subsidize private gains in the proposed merger between CIT Group and OneWest Bank.

The Independent Community Bankers of America is taking issue with the White House's selection of investment banker Antonio Weiss to become Treasury undersecretary of domestic finance, joining a growing list of those criticizing the nomination.

The Consumer Financial Protection Bureau said DriveTime, which also has a lending unit, harassed delinquent borrowers and reported incorrect credit data.

A Senate report released Thursday reveals new details about the role certain banks played in the physical commodities markets, specifics that lawmakers say supports the Federal Reserve Board's plans to restrict bank participation in that area.

Only eleven months after cheering Federal Housing Finance Agency Director Melvin Watt's confirmation, Senate Democrats are fed up with the pace of reforms at the agency.

House Republicans are hoping to force the Federal Reserve Board to be more open about its monetary policy decisions and strip away some of its new authorities added by the Dodd-Frank Act, according to Rep. Patrick McHenry, the House's chief deputy whip.

Wells Fargo announced Wednesday that former Federal Reserve Board Gov. Elizabeth “Betsy” Duke is joining its board of directors.

WASHINGTON — The top Republican and Democratic spots on the House Financial Services Committee will remain unchanged in the new Congress.

Banks need risk managers with a "show me the money" mindset — that is, people who know how to use income statements and balance sheets to sniff out risky business activities.

As digital currencies become increasingly popular in Latin American countries, partnerships between banks and Bitcoin exchanges can help expedite cross-border transfers.

The Federal Housing Administration's mortgage insurance fund is finally in the black, but not strong enough that the agency is likely to lower premiums anytime soon.

The OCC bowed to industry pressure in late September to remove the word "ensure" from its heightened expectations guidelines for the biggest institutions after bankers argued it would create unintentional litigation risk for boards of directors. But few noticed a month later when the OCC inserted virtually the same language in its updated supervision policy on matters requiring attention.

WASHINGTON — The Federal Deposit Insurance Corp. finalized a rule on Tuesday that spells out the formula banks will be required to use when determining how much they will have to pay into the insurance fund that protects against bank runs.

Sen. Elizabeth Warren, D-Mass., and Rep. Elijah Cummings, D-Md., are pressing more than a dozen financial services companies for information about recent data breaches.

Sens. Elizabeth Warren, D-Mass., and Joe Manchin, D-W.Va., are asking President Obama to nominate Wall Street outsiders to a pair of vacancies on the central bank's board of governors.