Law and regulation

The Senate Banking Committee approved legislation Tuesday to extend the Terrorism Risk Insurance Act, a program due to expire at yearend. It also considered making a legislative fix to the Dodd-Frank Act. Here's what happens next.

Subprime auto lender Consumer Portfolio Services has agreed to pay more than $5.5 million to settle government allegations that it used illegal tactics in the servicing and collection of loans.

Bitcoin entrepreneur Erik Voorhees will pay more than $50,000 to settle charges by the Securities and Exchange Commission that he failed to register a stock offering.

The Senate Banking Committee approved a bill Tuesday to reauthorize the Terrorism Risk Insurance Act for seven years.

Bank revenues from underwriting leveraged loans may decline as regulators step up scrutiny of underwriting standards, according to Keefe, Bruyette & Woods.

Lawmakers are ramping up pressure on the Department of Justice and banking regulators to curtail their efforts under Operation Choke Point, including prepping legislation that would grant institutions a safe harbor in certain circumstances.

A potential $10 billion U.S. penalty against France's largest bank BNP Paribas SA for its alleged dealings with Iran and other sanctioned nations is stirring outrage in the country.

The Office of the Comptroller of the Currency has closed Slavie Federal Savings Bank in Bel Air, Md.

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The Federal Deposit Insurance Corp. is looking to ban a former Tennessee banker from the industry following his institution's 2012 failure.

Internal memos and emails show that the controversial probe was not exclusively focused on payday lending. At the same time, Justice officials did not think it was their problem if lawfully operating payday lenders lost their banking relationships as a result of the investigation.

The addition of a new community bank section in the Federal Deposit Insurance Corp.'s quarterly bank earnings report is meant to make up for distortions in how large banks drive industry data.

Lawmakers are working behind the scenes to spur a potential vote on legislation that would ease capital standards for insurance companies as soon as next week.

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

American Bancorporation was the first-ever bank holding company thrown into bankruptcy by the holders of its trust-preferred securities. Regulators may be able to avoid similar bankruptcies if more flexibility is shown in allowing holding companies to access capital to pay off creditors.

The Securities and Exchange Commission appears poised to soon finalize a plan to reform the $2.6 trillion money market mutual fund industry.

The Consumer Financial Protection Bureau is learning just how hard it is to put effective curbs on small-dollar consumer credit.

A Republican-led congressional panel is accusing the Department of Justice of overstepping its legal authority and unfairly harming legitimate merchants as part of an investigation into fraudsters' use of the banking system.

Fifth Third Bancorp of Cincinnati expects to report an $81 million gain in the second quarter after selling shares of payment processing firm Vantiv.

Ally Bank CEO Barbara Yastine admits there’s a drawback to not having bricks and mortar — but it isn’t enough to make her regret not having branches under the Ally banner, which replaced the GMAC Bank brand five years ago this month. Yastine also discusses Know Your Customer standards and why the company is standing by its indirect auto finance model.