Law and regulation

Merchants are expressing concern about the U.S. transition to EMV-chip payment cards because of what they view as technical challenges and industry politics.

Former Rep. Barney Frank, who served as chairman of the House Financial Services Committee from 2007 to 2011, was presented Tuesday evening with an official portrait that will hang in the Rayburn committee room.

The Consumer Financial Protection Bureau finalized a rule Wednesday that expands its supervisory authority to begin selectively examining nonbank entities.

Sheila Bair, the former Federal Deposit Insurance Corp. chairman, urged Senate leaders to confirm Richard Cordray as director of the Consumer Financial Protection Bureau at New York's Bryant Park Tuesday.

The House Financial Services Committee wrestled with concerns over "too big to fail" on Wednesday, pressing current and former regulators, including Richard Fisher and Sheila Bair, on how the Dodd-Frank Act could be improved to prevent future bank bailouts.

Issuers are adding another layer of protection at a time when lawmakers are examining how to wind down Fannie Mae and Freddie Mac and bring private capital back into the mortgage market.

Various loan types have been yielding fatter margins over banks’ cost of funds through much of the Fed’s campaign to stimulate the economy. Blame banks' tight overall margins on cash and securities.

Sheila Bair said Tuesday that the Senate should confirm Richard Cordray as director of the Consumer Financial Protection Bureau.

Bankers and companies including JPMorgan Chase and Citigroup praised landmark Supreme Court decisions that expanded federal benefits and struck down some restrictions on same-sex marriage.

The Consumer Financial Protection Bureau on Tuesday advised banks and other financial companies how to respond to an investigation to minimize the risk of punishment.

Bank investors will be able to assess which lenders are over-reliant on debt starting in 2015, under plans from global regulators to curb financial firms' addiction to borrowing to fuel their activities.

Banks and regulators have proposed bail-in mechanisms for capital plans. Exposing creditors to losses could help protect taxpayers and depositors, but is long-term debt an adequate substitute for equity?

Reverse stress tests, effective board oversight and incentive programs that encourage caution curb the tendency to accept excessive risk in the pursuit of business objectives.

Bank of America and Barclays are among more than a dozen banks sued by the Regents of the University of California over claims they manipulated of the London Interbank Offered Rate.

The Federal Reserve Board has terminated a written agreement with Farmers Bank in Ault, Colo. The May 2010 pact obligated the $232 million-asset bank's directors to strengthen oversight of management.

The Consumer Financial Protection Bureau gave banks and nonbanks four tips on how to minimize the risk that its investigations blow up into an enforcement action.

Sens. Bob Corker and Mark Warner on Tuesday introduced their much-discussed proposal for reforming the mortgage finance market. The effort has continued to win plaudits from fellow lawmakers, regulators and the industry.

Freddie Mac is preparing to market mortgage securities that will share with investors the risk homeowners don't repay their government-backed loans, according to a person with knowledge of the plans.

Senate Banking Committee members pressed regulators Tuesday about the extent of industry efforts to gain greater flexibility in modifying or delaying repayment of troubled student loans.

Replacing Fannie and Freddie with a federal catastrophic reinsurance agency is smart. Putting the wrong leader (like a politician) in charge of the new mortgage agency would be disastrous.