Law and regulation

Given her philosophy, Janet Yellen is likely to continue the Federal Reserve’s highly accommodative monetary policy as chairman. That is worrisome.

Industry observers are bracing to see whether the cost of international wire transfers will skyrocket once a new Consumer Financial Protection Bureau rule goes into effect starting today.

Optimal Payments Plc, which is based in Isle of Man, has registered with the New Jersey Division of Gaming Enforcement to provide services to Internet gambling businesses licensed by New Jersey.

In September, regulators seized the largest institution to be closed in over three years, the $3.1 billion-asset First National Bank in Edinburg, Texas, throwing cold water on the idea that only the smallest banks are vulnerable now to failure.

Bankers facing the futility of trying to repeal new rules have moved on to other tactics—including, in some cases, acceptance of the new oversight regime.

A successful prosecution of JPMorgan would throw into disarray the bank’s substantial and highly lucrative asset management business, among other disincentives for the government to pursue a criminal case.

JPMorgan Chase (JPM) has agreed to pay $5.1 billion in settlements to the Federal Housing Finance Agency, Fannie Mae and Freddie Mac, federal officials said Friday.

News of the government's $13 billion settlement with JPMorgan Chase prompted emotional arguments for and against the bank, as well as satire of all the outrage.

JPMorgan Chase's tentative agreement to pay a record $13 billion to end civil claims over its sales of mortgage bonds has hit a snag because of the bank's bid to make the FDIC liable for part of the payment, a person familiar with the talks said.

A recap of the informed opinions (and the discussions they generated) on BankThink this week.

With Chairman Hensarling's plan to overhaul the mortgage finance market stuck in limbo, several Democrats have begun work on alternative proposals that could further divide support for the GOP bill.

Six financial regulators issue new racial and gender diversity policies. Directors of each regulator's diversity division helped form new policies that were required under the Dodd-Frank Act.

Five banking and credit union regulators issued a joint statement Tuesday stating that lenders who provide qualified mortgages should not be concerned about inadvertently violating the fair-lending law known as the Equal Credit Opportunity Act.

A dedicated federal insurance regulator would understand the risks of the insurance business – which are fundamentally different from those in banking – while monitoring systemic dangers posed by the largest insurers.

Federal banking regulators are recommending banks bolster underwriting standards for leveraged commercial loans as borrowing of the high-risk debt approaches levels not seen since before the financial crisis.

The Federal Reserve Board, Federal Deposit Insurance Corp. and the Office of the Comptroller of the Currency released a proposal on Thursday that would institute tougher liquidity requirements on U.S. financial institutions.

The Consumer Financial Protection Bureau accused Borders & Borders PLC, a Kentucky law firm, of receiving illegal kickbacks from certain charges on real estate settlements.

Edward DeMarco, acting director of the Federal Housing Finance Agency, said Thursday that the agency has no immediate plans to lower the size of the loans the government-sponsored enterprises can buy, though he left the door open for future reductions.

Regulators unveiled a proposal Thursday that would institute tough new liquidity requirements on U.S. financial institutions, acknowledging that their plan is harsher than a global framework suggested by international supervisors.

The Consumer Financial Protection Bureau is suing a Kentucky law firm on allegations that it received illegal kickbacks from certain charges on real estate settlements.