Law and regulation

Here's who has the potential to shake up the debates over housing finance reform, "too big to fail," consumer regulation and other key banking issues in the new year.

American Express is being sued by a West Virginia woman for allegedly engaging in improper debt collection methods.

Bankers are spending so much time complying with new regulations that they're in danger of giving short shrift to actual risk management, says Ingmar Bromstrup, a Principal at The Boston Consulting Group.

A plan to inject $50 million into U.S. Century Bank has reportedly been called off, leaving the undercapitalized Doral, Fla., bank in limbo.

Manhattan U.S. Attorney Preet Bharara on Tuesday defended his decision not to prosecute JPMorgan Chase for allegedly facilitating Bernie Madoff's Ponzi scheme, calling a deferred-prosecution agreement and monetary penalty an "appropriate" resolution of the bank's alleged failings.

The Consumer Financial Protection Bureau could consider expanding exemptions for small lenders from its qualified mortgage rule after it goes into effect on Friday, according to Richard Cordray, the agency's director.

Despite the risks, lenders have calculated that certain loans that fall outside of QM are worth making and holding on their balance sheets.

Lawmakers are gearing up to intervene if regulators fail to resolve ongoing concerns about the treatment of collateralized debt obligations backed by trust-preferred securities under the Volcker Rule.

The Federal Reserve Board has terminated enforcement actions with Cornerstone Holding Co. in Fargo, N.D., and Commerce Bancshares in Catoosa, Okla.

JPMorgan Chase & Co. agreed to pay $1.7 billion to resolve U.S. claims that it played a role in facilitating Bernard Madoff's Ponzi scheme, the government said, resolving yet another legal obstacle facing the bank.

The finalization of the Volcker Rule signals that banks have reached "the height of the regulatory burden that has been placed on banks" since 2008, according to ConnectOne CEO Frank Sorrentino III. Now bankers just need to figure out how to fully comply with these new rules. Sorrentino, also a board member of the American Bankers Association, discusses his outlook for industry regulation in 2014.

The Senate voted 56 to 26 late Monday to confirm Janet Yellen as the next leader of the Federal Reserve Board.

Elmira Savings Bank (ESBK) in Elmira, N.Y., has redeemed the remaining $3.5 million of preferred stock issued to the Treasury Department through the Small Business Lending Fund.

The Target Corp. data breach just before the holiday shopping season triggered another round of rhetoric on the merits and shortcomings of chip-based cards. But the breach's direct effect on merchant EMV plans is largely up in the air.

Taiwan's Financial Supervisory Commission is barring Bitcoin ATMs because the country's regulatory body views Bitcoin as a false currency that should not be used by people or banks for payments.

The Senate Banking Committee is moving forward with a plan to overhaul the housing finance system, but leaders still face a delicate balancing act in swaying some liberal members of the panel to sign on to the bipartisan effort without losing conservative supporters.

Bank of the West said Monday it will continue to offer interest-only mortgages to borrowers even though such loans are excluded from the Consumer Financial Protection Bureau's qualified mortgage rule that goes into effect Jan. 10.

The Federal Reserve should allow market participants to make their own bets on what the central bank will do and when it will do it.

House leaders are unlikely to take up housing finance reform on the chamber floor this month, according to a new legislative schedule.

The United States is the most successful political, economic, and financial enterprise the globe has ever seen. It has this position because it has always embraced risk.