Law and regulation

Former Rep. Barney Frank has joined a growing chorus of observers warning that an exemption in regulators' proposed risk retention rule for mortgages is overly broad.

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

The U.S. Consumer Financial Protection Bureau said it will police employer usage of payroll cards to ensure workers don’t face hidden fees or other abuses.

A class-action lawsuit filed in St. Louis City Circuit Court on Monday by former clients of Missouri-based consumer attorneys James Eason and Richard Voytas and The Eason Law Firm outlines allegations that serve as a reminder for consumers to be aware of a wolf in sheep’s clothing, according to the Missouri Collectors Association.

Jim Bruce, the director of a new documentary on the Fed, said Summers "doesn’t really have a background… in central banking" while praising Yellen’s character and integrity.

Old National is trying to shed assets ahead of an acquisition in hopes of staying below $10 billion in assets, a level that ensures increased regulation.

Most of the five-year retrospectives on the financial crisis were pretty boring, according to Editor-at-Large Barbara A. Rehm. But a few were very revealing about the industry’s future, including the massive onslaught of rules still on their way.

American Banker readers share their views on the most pressing banking topics of the week. As excerpted from the comments sections of AmericanBanker.com articles.

A 1999 memorandum explains why the DOJ refrains from prosecuting large financial institutions for their blatant regulatory violations, but why does it refrain from going after the employees who behaved badly?

JPMorgan Chase Chief Executive Officer Jamie Dimon overhauled leadership of the bank's regulatory matters this year as U.S. examiners said they had lost trust in management, the Wall Street Journal reported.

WASHINGTON — The Consumer Financial Protection Bureau warned banks and other companies that it will pursue action against any employer that forces employees to deposit wages into a payroll card account.

Lawmakers blasted the Consumer Financial Protection Bureau on Thursday, claiming it had failed to respond to their questions about its data gathering activities.

The top leaders of the Senate Banking Committee said Thursday that they intend to reach a bipartisan agreement by yearend on a bill to revamp the mortgage finance system despite fears that the issue is losing momentum.

The Treasury Department plans to auction nearly $118 million of shares in six lenders as it continues to wind down the Troubled Asset Relief Program.

Sen. Elizabeth Warren continued her drive to end "too big to fail" in a speech on Thursday, arguing lawmakers shouldn't wait until regulators have fully implemented the Dodd-Frank Act before taking action.

Regulators sought to reassure bankers about new mortgage rules at a conference in North Carolina this week, but remarks from all sides about pitfalls and policy mistakes fed the tension.

With the general push for more capital, liquidity, regulatory knowledge, and tools, the financial sector is safer and more competitive.

Payments technology company TIS will work with SAP to streamline Single Euro Payments Area [SEPA] compliance.

Through bitter experience, bond purchasers learned about the moral hazard embedded in private residential mortgage-backed securities and their grossly inadequate legal protections.

The state of Illinois is suing Safeguard Properties, alleging that it illegally broke into occupied homes of people in foreclosure or behind on their mortgages and locked them out or removed their belongings.