Law and regulation

The Federal Deposit Insurance Corp. is selling $2.42 billion of bonds issued by Citigroup in a transaction that will eliminate U.S. government holdings in the bank linked to the 2008 financial crisis.

Reform of housing finance giants Fannie Mae and Freddie Mac gained surprising momentum in recent months. But it's at risk of grinding to a halt as the Capitol Hill is consumed with Syria and the confirmation of a new Federal Reserve chairman. American Banker editors discuss the prospects for GSE legislation amid a packed and contentious legislative agenda.

PNC Financial Services Group has begun winding down Market Street Funding, an asset-backed commercial paper conduit that funds credit for corporate clients.

The idea of bringing criminal charges against one of the nation’s larger banks has become untenable. The potential cost in jobs, probable shareholder losses and market turmoil would be horrific.

Congress must create mechanisms to dampen the volatility of housing finance, writes James Lockhart, the former regulator for Fannie and Freddie, on the fifth anniversary of their takeover by the government.

Neil Barofsky, who became known as a staunch advocate for transparency and accountability as the watchdog of the Troubled Asset Relief Program, is joining the law firm Jenner & Block as a partner.

The banking committees are set to resume debate over mortgage finance reform when Congress returns from August recess on Monday, but the issue will be just one of many facing lawmakers during a very busy fall.

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

The Federal Reserve System has taken regulatory action against Union City Corp. in El Reno, Okla., and released a Missouri holding company and its banking unit from a written agreement.

CFPB Director Richard Cordray has a knack for adapting his speeches to different audiences, including most recently invoking Moses' aides Aaron and Hur in a presentation to the National Baptist Convention.

Raj Date has added another lending veteran to his growing financial advisory and investment firm, Fenway Summer.

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.

The law's biggest mistake was failing to consolidate financial regulators, our Editor at Large says, but there are plenty of other shortcomings as well.

The recent court ruling on debit interchange fees should remind the payments industry how harmful the Durbin amendment is.

The Federal Deposit Insurance Corp. board of directors on Tuesday is set to finalize a regulation dealing with the agency's handling of uninsured deposits held in foreign branches.

New York State's chief banking regulator is tightening the screws on banks that lend to landlords, increasing the requirements for Community Reinvestment Act credit.

A legal safe harbor designed to protect lenders that make "qualified mortgage" loans from consumer lawsuits is likely to expose institutions to potentially even greater liability, according to several banking experts.

ICAP, the world's largest broker of transactions between banks, is negotiating a fine with U.S. and U.K. regulators for allegedly helping traders manipulate the London interbank offered rate.

Frank and George Hamlin at Canandaigua National are turning letter writing into an art form as they rail against a wave of new bank regulation.

Mark Carney, chairman of the Financial Stability Board, urged leaders of the Group of 20 nations on Thursday to take more strides to strengthen the global financial system.