Law and regulation

Banking regulators appeared on course Tuesday to vote on a final rule to ban proprietary trading at U.S. financial institutions ahead of a year-end deadline.

Former Washington Mutual Chief Executive Officer Kerry Killinger and two other bank officials are in settlement talks with the OCC, the last chapter in the government's probe of the largest U.S. bank failure.

Most systemically important financial institutions are publicly traded, so they’d have to immediately disclose any orders from the Fed to curb systemic risk. Their securities would get hammered. Thus, Fed supervision is a strong incentive to operate safely.

Carolina Premier Bank in Charlotte, N.C., is planning to swap its state charter for a national bank charter and change its name.

The Federal Reserve Board has lifted enforcement actions against Parkway Bancorp in Harwood Heights, Ill., and Peoples Inc. in Lawrence, Kan.

A Volcker Rule limiting investment in securities used primarily for customer transactions to 10% of the firm’s revenue is simple for banks to understand and easy for regulators to enforce.

BTC China, the nation's largest Bitcoin exchange, has had low-level discussions with regulators seeking recognition of the digital currency that would allow it to be used to buy goods and services in the country.

Under a rule released Tuesday, the CFPB will begin examining any nonbank servicer that handles more than one million student loan borrowers — a category that currently includes seven firms and accounts for 70% of the market.

At least three U.S. regulators will meet on Dec. 10 to adopt the final version of the Volcker rule banning banks from making speculative bets with their own money, according to three people familiar with the planning.

Ahead of a conference on Wednesday, the business lobbying group addressed a number of deficiencies it identified in the structure of the Financial Stability Oversight Council, a 10-member voting panel created under the Dodd-Frank Act and headed by Treasury Secretary Jacob Lew.

More than 10 months after agreeing to pay a $10 million penalty to its regulator, TCF Financial (TCB) has officially been released from an enforcement order related to its monitoring of suspicious transactions.

WASHINGTON — The Federal Reserve Board on Monday accepted revised capital plans by JPMorgan Chase & Co. and Goldman Sachs after asking both firms to go back to the drawing board earlier this year.

The National Fair Housing Alliance has accused big banks of discriminating against minorities in the upkeep of foreclosed properties and is seeking millions in settlements — mostly for itself. Behind its demands are faulty data and grants overseen by a federal official with close ties to the group.

Passing framework rules without considering technology implementation has proven disastrous for the CFTC. Like the Obamacare website debacle, it has brought to the fore unresolved Big Data issues.

The Farm Credit Administration will also withdraw a proposal that would have allowed its lenders to make investments in non-agricultural businesses.

It's been nearly two years since the FDIC first unveiled its so-called “single point of entry” approach, which is designed to help unwind a systemically important financial institution. Yet without more details, the strategy is in danger of imploding.

New York's city council recently voted to allow campaign contributions to be made by text message.

Seacoast Banking Corp. of Florida (SBCF) in Stuart plans to redeem its $50 million of outstanding Troubled Asset Relief Program shares.

The operators of a scheme to market a government insurance refund processing business have been banned from deceptive sales practices under a settlement with the Federal Trade Commission.

As the prepaid card market has matured, it has become a "business not for the faint of heart or haphazard investor" because of regulatory scrutiny and competition's effect on pricing, according to Aite Group.