Law and regulation

Members of the Utah Bankers Association had a meeting at the Treasury Department canceled thanks to the federal shutdown, but they managed to get in other work and play during a visit to the nation's capital this week.

The Consumer Financial Protection Bureau charged one of the nation's largest payment processors, Meracord LLC, with a $1.4 million fine.

Bosses from some of the nation's top banks enjoyed a rare White House photo op in recent days when the administration turned to them to be part of the solution to the financial problems plaguing the capital rather than part of the problem. American Banker editors discuss whether the episode will recast bankers in a more flattering light and what perils the political mess holds for the industry.

Fed Chairman Ben Bernanke bit on James Bullard's joke about the superiority of St. Louis' baseball team over Washington's, but he avoided the bait to discuss the federal shutdown.

The Debit Interchange Fee Study Act called for a six-month regulatory study on the cost of the rules and their impact on consumers. There are good reasons to revisit that approach now.

WASHINGTON — The Senate Banking Committee will hold a hearing next week examining the possibility of the U.S. defaulting on its debt.

The Consumer Financial Protection Bureau's $1.4 million fine against a large third-party processor for debt relief companies proved that firms can no longer hide in the intricate debt collection stream.

Federal Reserve Board Gov. Jerome Powell said Thursday the agency is planning to launch a new supervision program for community banks next year.

Dorothy Savarese knows as well as any community banker the frustrations from mounting regulation. Empirical studies can illuminate compliance burdens — and their broader consequences — for policymakers, the Massachusetts thrift executive says.

We should instead preserve the right of consumers to choose the products and features that best provide for their family’s daily financial needs, not force them into limited and costly alternatives.

Under the 2010 Dodd-Frank Act, the Federal Reserve requires midsize banks, those with consolidated assets between $10 billion and $50 billion, to conduct annual company-run stress tests.

U.S. regulators released individual plans on Thursday detailing how 11 of the largest financial institutions plan to wind themselves down in the event of a failure.

The West Virginia Supreme Court on Tuesday debated a subpoena and temporary injunction issued against debt buyer Cavalry Portfolio Services.

Consumer advocates pressed the Consumer Financial Protection Bureau on Wednesday to crack down harder on credit card issuers despite recent regulations that largely curtailed hidden fees and predatory practices.

According to a report released Wednesday by the Consumer Financial Protection Bureau, banks and other credit card issuers are charging less in penalties and are doing better at disclosing previously hidden fees.

The operator of the "Silk Road Hidden Website" was charged with running a "sprawling black-market bazaar" where anonymous users paid Bitcoin digital currency for illegal drugs and phony identification documents.

Federal Reserve Board Chairman Ben Bernanke said Wednesday that U.S. regulators don't want to harm community bankers still ailing from the financial crisis.

Bank buyers should run potential deals by regulators early to avoid "landmines" and speed applications, officials from the Office of the Comptroller of the Currency say. Proper due diligence, succession planning and risk management are among the things they look for.

U.S. regulators and law enforcement officials expect risk-based anti-laundering and sanctions programs — no small feat for digital-currency firms, which generally do not know their customers' counterparties.

The top executives from Goldman Sachs and Bank of America Corp. on Wednesday warned of "serious repercussions" if the U.S. government breaches the debt ceiling without a political solution.