Law and regulation

The Federal Reserve Board released an enforcement action against Citigroup calling for improvements of its AML risk management program. The action stems from orders last year against two of Citigroup's subsidiaries.

The Federal Deposit Insurance Corp.'s discussion with foreign regulators about cross-border resolutions plans is expanding its efforts beyond just the United Kingdom.

The smaller debit networks are ready to join the larger networks in supporting Discover's technology to meet federal rules on routing EMV debit transactions, but they still await clarity from Visa and MasterCard.

Auto dealer industry representatives warn that costs will rise for borrowers if the Consumer Financial Protection Bureau forces banks to halt auto loan markups determined by dealers.

While JPMorgan's witnesses were testifying with practiced humility, lobbyists were working to gut the reforms of derivatives trading enacted as part of the Dodd-Frank Act.

Plastiq's service asks consumers to pick up the cost of card acceptance. It presents a service fee that is added to the transaction amount, much like sales tax is typically added at the point of sale.

The difference between board members with hands-on banking, compliance and technology knowledge and board members without can mean the difference between a bank's success and failure.

A Miami businessman accused U.S. Bank and its equipment finance arm of using involuntary bankruptcy as a collection tool; wins a $6 million jury award.

Sen. Tim Johnson, chairman of the Senate Banking Committee, is expected to announce at a press conference tomorrow that he will retire when his term ends next year.

New York Fed chief William Dudley said interest-rate risk is a concern, but the Fed's policy does not subsidize banks. Fed Chairman Ben Bernanke, meanwhile, said recent monetary policy decisions are not causing imbalance to exchange rates.

Our best chance to counter the government policies that caused the crisis (and continue to endanger the banking system) is, paradoxically, another distasteful state intrusion.

With debates about dealing with large firms still persisting in the U.S., the Federal Deposit Insurance Corp. is expanding its international presence to prepare for cross-border bank cleanups.

Tim Pawlenty, the CEO of the Financial Services Roundtable, says that complying with new regulations is the foremost concern for retail bankers. He spoke with American Banker at the Best Practices in Retail Financial Services Symposium.

Two historical allies of the housing industry's push for more homeowners – the National Council of La Raza and the National Community Reinvestment Corporation – are now endorsing a cut in the mortgage interest deduction.

The Senate passed budget amendments over the weekend to break up the big banks and restrict the use of certain fee hikes at Fannie Mae and Freddie Mac to reduce government spending.

For many small and midsize banks, AML is all about compliance and getting through an examination without too many bruises. The means overshadow the ends.

The Federal Reserve Board has approved FirstMerit's pending acquisition of Citizens Republic Bancorp (CRBC) in Flint, Mich.

The Office of the Comptroller of the Currency has terminated a written agreement with Intervest National Bank in New York.

Directors should recognize that appropriate professional behavior reinforced by a sense of belonging to a quality franchise constitutes a decisive competitive advantage.

Patrick Fahey's last act as a turnaround specialist ended with the 2010 failure of Frontier Bank. First Sound Bank in Seattle is poised for a much different outcome.