Law and regulation

The recent IRS ruling on how Bitcoin and other virtual currencies are taxed brings the U.S. in line with regulations in Canada, Australia, Finland, Norway and Sweden.

The "dream team" of bankers who set up Greenville, S.C.-based CertusBank attracted half a billion dollars from hedge funds to buy failed banks. Lately, the focus has shifted to big losses, lavish spending and payments to a consulting firm owned by top executives.

An obscure bill in the House would go a long way to protect taxpayers by giving megabanks an incentive to deleverage and shrink. So why has it gone nowhere?

Rep. Maxine Waters, D-Calif., unveiled a new plan Thursday to overhaul the housing finance market, entering what's becoming a crowded field of proposals to restructure the mortgage system.

A road map for regulation of virtual currency is beginning to emerge as more states appear willing to issue licenses for entities offering exchange and other services.

WASHINGTON — Payday lenders told the Consumer Financial Protection Bureau on Tuesday that they will accept new regulation so long as it does not "cripple" the industry and credit availability.

After the stress tests, come the tears — and the gloating.

A collective of business trade groups on Wednesday warned of potential risks for end users of margin requirements mandated under the Dodd-Frank Act.

WASHINGTON — Top Democrats on the House Financial Services Committee are asking several watchdog agencies to provide more information about federal regulators' employment policies and practices with regard to minorities and women.

A Senate Commerce Committee hearing Wednesday focused on Target and other organizations could have done to prevent massive breaches and possible legislative steps can be taken to improve data security.

The Federal Reserve Board denied the capital plans of Citigroup, HSBC, RBS Citizens, Santander and Zions in its second round of stress tests this year.

MasterCard Inc. is planning its first bond sale on record with a $1.5 billion issue.

Senate Banking members examined concerns about alternative lending products such as payday loans on Wednesday, though consensus on what, if any, changes are needed to the industry remains elusive.

With more reliable loan data, Fannie Mae and Freddie Mac would have greater confidence that borrowers would not default. In return, lenders would receive a juicy carrot: fewer buyback requests.

WASHINGTON — Several officials from the Consumer Financial Protection Bureau are being called to testify before a House subcommittee next week on recent allegations that employees were being mistreated.

Payday lenders told the Consumer Financial Protection Bureau on Tuesday that they will accept new regulation so long as it does not "cripple" the industry and credit availability.

The U.S. government will treat Bitcoin as property for tax purposes, applying rules it uses to govern stocks and barter transactions, the Internal Revenue Service said in its first substantive ruling on the issue.

The top five U.S. financial institutions benefited from a funding advantage in key markets prior to the enactment of regulatory reform, according to a study released Tuesday by economists at the Federal Reserve Bank of New York.

The U.S. government will treat Bitcoin as property for tax purposes, applying rules it uses to govern stocks and barter transactions, the Internal Revenue Service said in its first substantive ruling on the issue.

The Federal Reserve's suggestion that bank assets rise in recessions, though supported by data, paints an incomplete picture. Stress ultimately causes bank assets to decline, but with a considerable time lag.