Law and regulation

Regulators on Friday closed The National Republic Bank of Chicago, the 16th institution to fail this year.

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WASHINGTON — House Republicans are seeking an investigation by an independent watchdog into the Federal Deposit Insurance Corp.'s role in the Justice Department's "Operation Choke Point," which aims to combat illicit businesses by forcing them out of the banking system.

The elections on Nov. 4 are expected to be "the most expensive" mid-term race in history, with banks hoping for Republican control of the Senate in the hopes of enacting some regulatory relief. Following are how much the financial services industry has given and who they've given it to.

WASHINGTON — Regulators issued a proposal on Friday that would require banks to escrow premiums and fees for flood insurance on mortgages made or refinanced after Jan. 1, 2016.

A recap of the informed opinions (and the discussions they generated) on BankThink this week.

The mid-term elections next month are on track to be one of the most expensive contests to date, and the financial services industry remains a top political donor.

Instead of trying to stop companies from offering payday loans and check cashing services to lower-income households, we should encourage more competitors — including banks — to enter this space.

WASHINGTON — The Financial Action Task Force sounded an alarm Thursday that banks are overreacting in their response to recent anti-money-laundering enforcement actions by cutting off whole swaths of business.

Most of the securitized single-family market is currently exempt, but only a tiny part of the commercial equivalent is. However, nonexempt commercial will get more expensive to issue, and the single-family exemption could change.

WASHINGTON — Risks posed by rising interest rates are once again a top theme in stress test scenarios released by the Federal Reserve Board on Thursday.

The Fed's hotly-anticipated road map outlining plans to speed up the U.S. payment system will call for the creation of several industry-led task forces and recommend building a new infrastructure to facilitate real-time payments.

The Fed's hotly-anticipated road map outlining plans to speed up the U.S. payment system will call for the creation of several industry-led task forces and recommend building a new infrastructure to facilitate real-time payments.

Don Beyer, a northern Virginia car dealer who's running for office as a Democrat, is hoping to bridge the vast divide between the industry and the CFPB.

Small banks and credit unions should work together to put pressure on legislators and regulators to reduce unnecessary and cumbersome regulations.

The Volcker Rule's data-intensive requirements are creating headaches for banks that still rely on manual processes and use multiple, disparate systems for securities and different derivatives trading.

Heightened U.S. regulatory scrutiny of leveraged lending is leading the biggest banks to back away from funding some takeovers financed by debt, creating an opportunity for smaller competitors to step in.

WASHINGTON — Mortgage lenders will have 210 days to fix errors in their calculations of points and fees and reimburse borrowers for any overages under a final rule issued by the Consumer Financial Protection Bureau.

The payments company and big-bank trade group plans to create a ubiquitous, real-time payment system over the coming years, supplementing the push for same-day settlement of ACH transactions.

WASHINGTON – The Federal Reserve Board and Securities and Exchange Commission on Wednesday both signed off on an interagency rule requiring securitizers to hold 5% of the credit risk on loans sold to investors.