Law and regulation

Federal Reserve Governor Jeremy Stein said banks that rely on deposits for funding have an advantage over counterparts that rely on the shadow banking system, such as repurchase agreements, to finance investments in illiquid assets.

Sandra Braunstein, the director of the Federal Reserve Board's division of consumer and community affairs, plans to retire on April 1, the agency announced Jan. 3.

Mackinac Financial (MFNC) in Manistique, Mich., has completed the redemption of stock originally issued to the Treasury Department under the Troubled Asset Relief Program.

WASHINGTON — Sandra Braunstein, the director of the Federal Reserve Board's division of consumer and community affairs, plans to retire on April 1, the agency announced Friday.

Regulators are hoping to release an interim final rule next week designed to satisfy banker demands to change a provision of the Volcker Rule that threatens to force smaller institutions to take millions of dollars in write-offs.

Regulators are hoping to release an interim final rule next week designed to satisfy banker demands to change a provision of the Volcker Rule that threatens to force smaller institutions to take millions of dollars in write-offs.

Fred Joseph retired from overseeing banks and securities firms last month. In a wide-ranging interview, he reflected on his career and provided perspective on the future of the banking industry.

Under Fincen's March 2013 guidance, companies that transmit virtual currency must register as money services businesses. De Castro was unsure whether his investment company would be treated the same way. According to the letter from Fincen, its rules are not meant to apply to De Castro's business.

Central Valley Community Bancorp in Fresno, Calif., has redeemed $7 million of preferred stock issued to the Treasury Department under the Small Business Lending Fund.

So far, the big mortgage servicers have received stellar report cards for their compliance with the $25 billion national settlement. That could change this year as testing gets tougher -- potentially costing these companies further embarrassment and penalties.

Fred Joseph retired from overseeing banks and securities firms last month. In a wide-ranging interview, he reflected on his career and provided perspective on the future of the banking industry.

While a bankruptcy court has traditionally been a "debtors’ court" committed to helping grant debtors a fresh start, it should not allow for unchecked opportunities to hold the whole process hostage.

The push to regulate payday lenders is expanding to the city of Houston, where officials have agreed to join the growing list of Texas cities to approve new regulations on the industry.

Massachusetts' freshman senator, one year in.

WASHINGTON -- The legal battle over the application of the Volcker Rule is unlikely to be resolved until mid-January.

The Consumer Financial Protection Bureau was one of the most active regulators in 2013, writing a slew of new rules and taking a host of enforcement actions against banks and nonbanks alike. But that may pale in comparison to what the agency undertakes in 2014.

The “ability-to-repay” regime eviscerates fundamental principles of a mortgage “market.” It will not guarantee against a housing bubble and crash. It will constrain the availability of credit and increase home financing costs.

The “ability-to-repay” regime eviscerates fundamental principles of a mortgage “market.” It will not guarantee against a housing bubble and crash. It will constrain the availability of credit and increase home financing costs.

Community Bank System (CBU) in DeWitt, N.Y., will take a $6.9 million loss in the fourth quarter after selling collateralized-debt obligations and other securities in response to concerns over the Volcker Rule.

December was one of the most active months for the Consumer Financial Protection Bureau as it took several enforcement actions spanning from mortgage servicing to indirect auto lending. A number of cases were key milestones for the agency as it partnered with federal and state authorities as well as employed some controversial legal theories such as disparate impact. Here’s a countdown of the big cases for the month.