Law and regulation

Majority Leader Eric Cantor's stunning defeat in Virginia's Republican primary Tuesday evening could usher in a new political era for the House — one that's likely to leave its imprint on the banking industry.

The Office of the Comptroller of the Currency said Tuesday it has named Jennifer Kelly chief national examiner.

The Consumer Financial Protection Bureau is taking longer than expected to issue rules on financial products like prepaid cards, payday loans, and student loans but Director Richard Cordray sought to reassure lawmakers Tuesday the agency would address many of those areas within the year.

The Massachusetts attorney general's lawsuit against Fannie Mae and Freddie Mac seeks to aid a nonprofit whose CEO has close political ties to Martha Coakley's gubernatorial campaign.

The Federal Deposit Insurance Corp.'s outspoken vice chairman told bankers that curbing the "misdeeds" that prompted higher regulatory burden is better than just seeking exemptions for some.

Rep. Darrell Issa, R-Calif., chairman of the House Oversight and Government Reform Committee, is requesting additional information from the Federal Deposit Insurance Corporation about its involvement in Operation Choke Point.

Lenders are relaxing overlays and adjusting pricing to attract more VA business.

American Banker asked readers, BankThink contributors and staff members to recommend books for bankers to take on their summer vacations. Share your own suggestions in the comments section below.

The House approved a bill Monday evening to modify the calculation of certain "points and fees" under the Consumer Financial Protection Bureau's qualified mortgage rule.

WASHINGTON — A recent Supreme Court ruling concerning a tribal casino and state authorities has sparked a debate about whether the decision could extend to curtailing payday lenders that claim their affiliation with Native American tribes frees them from state and federal consumer protection laws.

Loan reserving is one of the most important decisions in banking. Yet there is no accounting, regulatory or industry numerical guideline for “adequate” levels of the allowance for loan losses.

Federal Reserve Gov. Daniel Tarullo on Monday said a slew of new regulations imposed on the biggest U.S. financial institutions should influence how banks make risky bets.

Lenders are seeking fixes to a proposal by the Consumer Financial Protection Bureau that would allow institutions to repay points and fees that inadvertently exceeded the "qualified mortgage" rule.

A recent Supreme Court ruling concerning a tribal casino and state authorities has sparked a debate about whether the decision could extend to curtailing payday lenders that claim their affiliation with Native American tribes frees them from state and federal consumer protection laws.

Potentially dangerous adjustable-rate mortgages are making a comeback. A few simple reforms could stop the financial industry from repeating the mistakes of the past while offering housing opportunities to low- and moderate-income borrowers.

Financial Services Roundtable CEO Tim Pawlenty discusses the after-effects of Dodd-Frank, the need to find regulatory balance between providing protection and hindering economic activity, concerns over the Johnson-Crapo GSE reform proposal, and more.

The U.S. Treasury Department said it sets limits while allowing the nation's intelligence agencies to access reports that banks file on suspicious or large money moves by customers, including information about Americans.

Wednesday's ruling that a lower court must accept an SEC settlement it viewed as inadequate effectively shackles the courts' ability to restore the rule of law in the financial services marketplace.

A reported $12 billion settlement with federal and state authorities could force Bank of America to take a charge eating up most of its second-quarter profits. After that, the bank may finally get to move on.

Payday lenders are raising the stakes in their pushback on Operation Choke Point with a lawsuit against banking regulators, alleging that "back-room pressure of banks" to dissolve longstanding relationships with payday shops and others is unfairly harming the industry.