Law and regulation

Midwestern community banks are in their best financial condition since early 2009, the Office of the Comptroller of the Currency said in a May 13 report.

Kennebec Savings Bank has a 19th century charter, but it is poised for a complex conversion to deal with modern challenges like activists investors, M&A pressures and even Basel III.

Canada's banking regulator said it will review candidates for senior management positions at financial institutions before they're hired.

Comptroller of the Currency Thomas Curry told a room full of state commissioners Wednesday that regulators need to "step up their game" rather than get caught up in competition between state and federal agencies.

Banks should view the recent influx of regulations on small-dollar credit loans as a chance to develop products that are at once profitable and safe for consumers.

Associated Banc-Corp (ASBC) in Green Bay, Wis., has been hit with a $500,000 fine by regulators for deficiencies in its anti-money laundering compliance procedures.

Green Tree's bad report card comes as regulators and lawmakers are scrutinizing nonbank servicers that have aggressively purchased mortgage servicing rights from banks.

By strengthening direct consumer oversight, Bitcoin may shift consumer protection from law and regulation to reputation and trust, and even to mathematical proof of good service.

Negotiations between industry, consumer groups and universities on U.S. rules for banking services aimed at college students have stalled over a Department of Education proposal to ban most account fees.

Student loan company Sallie Mae has agreed to pay approximately $97 million to settle accusations by the Justice Department that it overcharged certain members of the military and by the Federal Deposit Insurance Corp. that it misled consumers about late fees.

Discover's Pulse network and MasterCard have agreed to allow card-issuing banks using both networks to use MasterCard's technology to route EMV debit card transactions.

The government-sponsored enterprises just went a long way toward encouraging lenders to make more loans to borrowers with lower credit scores.

In his account of the financial crisis, former Treasury Secretary and New York Fed President Tim Geithner offers a full-throated defense of his fight to bail out Washington Mutual's bondholders and protect Citigroup's bid to take over Wachovia.

The Federal Housing Administration gave more details Tuesday about a program to reward borrowers who get counseling and a quality assurance initiative meant to ease lenders' fears about accommodating riskier borrowers.

In a wide-ranging speech on Tuesday, new FHFA Director Mel Watt said he would not weigh in on the housing finance reform debate percolating in Congress, while also detailing what changes he plans to make at the agency, including encouraging more access to credit.

U.S. authorities are seeking more than $3.5 billion from BNP Paribas SA to resolve federal and state investigations into the lender's dealings with sanctioned countries including Sudan and Iran, according to people familiar with the matter.

WASHINGTON — A House subcommittee announced Tuesday that it has scheduled a meeting on May 21 to hear from three officials at the Consumer Financial Protection Bureau who were recently subpoenaed to testify on allegations of employee discrimination and retaliation at the agency.

Advocates of mandatory arbitration say that it is cheaper than litigation and just as fair to consumers. Both claims are suspect.

Connecticut's top banking regulator on Monday warned investors about the dangers of Bitcoin.

Connecticut's top banking regulator on Monday warned investors about the dangers of bitcoin.