Law and regulation

HSBC, Europe's largest lender, said possible damages from a lawsuit filed by a U.S. regulator over improperly sold mortgage-backed securities could cost the bank as much as $1.6 billion.

The Federal Reserve Board's Senior Loan Officer Opinion Survey said credit conditions are improving for commercial and industrial loans but standards remain tight on mortgages and consumer debt.

Even if the Federal Reserve Board does not backtrack sharply on its debit-fee cap as a result of last week's court ruling, the legal battle has created fresh uncertainty that may have some U.S. issuers questioning their long-term strategy.

The $22.5 billion Structured Agency Credit Risk transaction serves its purpose, but shows how much more work and thinking needs to be done to redesign the housing finance system.

President Obama has nominated J. Christopher Giancarlo to serve on the Commodity Futures Trading Commission and Karen Dynan to serve as assistant Treasury secretary for economic policy.

A Bitcoin conference in New York last week drew a motley crowd. There were the expected wide-eyed believers in the digital currency, earnest entrepreneurs building Bitcoin-related businesses, and somewhat more skeptical venture capitalists — but also traditional banking lawyers and anti-money laundering compliance consultants whose services are in hot demand. Startup executives complained about the difficulty of getting (or keeping) bank accounts and state money transmitter licenses. But the technology shows great promise and demonstrates that it is possible to send money as fast and as cheaply as email, even if banks running on legacy systems cannot.

WASHINGTON — Regulators seized a $265 million-asset bank based in Fort Myers, Fla., late Friday and sold its operations in a deal protecting all of the failed bank's depositors.

While the Obama administration has publicly kept its distance from the housing finance reform debate during the past two years, it has been privately working in recent months to help move a bill forward.

From the Volcker Rule to GSE reform, a number of major banking policy issues remain unresolved as the nation's capital clears out for its annual summer recess. Here's a look at where the policymaking and regulatory agendas stand, the prospects for August surprises and what issues are likely to heat up when the weather cools.

U.S. District Judge Ellen Segal Huvelle dismissed a Texas community bank's case against the 2010 Dodd-Frank Act, stating that the financial institution, as well as the 11 states and two conservative groups backing the case have no legal ability to challenge the reform law.

A federal judge has dismissed a Texas community bank's case against key parts of the Dodd-Frank Act, arguing the institution, as well as the 11 states and two conservative groups backing it, have no legal ability to challenge the 2010 financial reform law.

Sen. David Vitter, a staunch conservative who can usually be found singing the praises of plans to break up big banks and overhaul the FHA, will be singing a different tune this weekend — namely that of pop idol Justin Bieber.

Economist Jason Furman received congressional approval Thursday to be the new chairman of the White House Council of Economic Advisers.

The Federal Reserve Board has terminated an enforcement action against Eastern Virginia Bancshares in Tappahannock and has fined Blencoe State Bank in Iowa.

Bank of America said federal and state agencies plan to press more civil claims tied to mortgage and debt offerings, signaling the firm faces another round of legal battles tied to home loans and underwriting.

House Republicans raised concerns that the Consumer Financial Protection Bureau's former deputy director, Raj Date, and several other staffers left their positions at the CFPB in order to profit from rules they had helped create.

This is a work of fiction. Any resemblance to real merchants, bankers, lobbyists, or politicians, living or dead, is purely coincidental.

The Federal Trade Commission has charged an operation that sells credit and debit card payment processing services to small businesses with violating federal law.

A symbiotic relationship between security and revenue may sound too good to be true, but it's not. ISOs and acquirers can succeed by creating opportunities that pair enhanced PCI compliance tools with new revenue streams.

A lawsuit by 11 states and a Texas bank challenging the Dodd-Frank law's financial regulation overhaul was dismissed by a federal judge.