Law and regulation

The CFPB director received a frosty reception at the ICBA conference despite remarks designed to calm bankers' fears.

The House Budget Committee released Rep. Paul Ryan's fiscal 2014 budget plan on Tuesday. The plan renews its attacks on the 2010 Dodd-Frank reform law, including its provisions for winding down large, failing banks.

The Federal Deposit Insurance Corp. chairman gave an update on the agency's community bank work and said the agency is on target to reach a statutory minimum for insurance reserves.

In a March 12 letter, Sen. Bob Corker, a senior member of the Senate Banking Committee, raised concerns about whether the Financial Stability Oversight Council would wind down a healthy institution due to concerns regarding whether the bank is "too big to fail."

A region-wide department chain filed suit against Visa challenging the payment card industry standards under which the merchant was fined $13 million for a 2010 data breach.

Sens. Mark Warner, D-Va., and Bob Corker, R-Tenn., are asking Attorney General Eric Holder to clarify his admission last week about whether some financial institutions are too big to prosecute.

The Permanent Subcommittee on Investigations' hearing into the "London Whale" mess at JPMorgan Chase will include a number of bank and OCC officials. Notably absent will be JPM CEO Jaime Dimon.

Global money transfer company Xoom is launching Pay Only When Received (POWR), a model through which the company does not withdraw money from a sender's bank account until the funds reach the recipient.

Former JPMorgan Chase chief investment officer Ina Drew will testify March 15 at a Senate hearing into her department's botched derivatives bet and record trading loss.

House Financial Services Committee Chairman Jeb Hensarling is questioning whether the Federal Reserve Board can transfer funds to the Consumer Financial Protection Bureau if the is agency without an appointed director.

American Express Co. faces many challenges over the way it operates, but the CEO's 2012 compensation signals that the company is focusing on its strengths.

Bankers at the trade group's annual conference want to focus on momentum, although many acknowledge lingering doubt about the future.

The House Financial Services Committee is circulating a biting "Get Out of Jail Free" card following comments by Attorney General Eric Holder that confirmed a bank's size plays a role in deciding whether to prosecute certain crimes.

A payment processor and two principals are banned from processing electronic payments under a settlement resolving charges they debited, or tried to debit, millions of dollars from consumers’ bank accounts.

Risk management issues, fair lending infractions, money laundering violations and civil money penalties will remain on regulators’ radars in 2013.

Homeowners with underwater mortgages worst-hit by foreclosures are leading refinancings after the government expanded programs like the Home Affordable Refinance Program to aid borrowers, strengthening the weakest link in the housing recovery.

Staffing, policies and vendor relationships will draw scrutiny as community banks look for new ways to make money.

A shareholder lawsuit alleges current and former VeriFone executives made false and misleading statements about the company's financial performance to artificially inflate the stock price—duping unsuspecting investors and allowing executives to cash in millions of dollars' worth of stock.

At an industry conference Tuesday, the consumer bureau's second-in-command fielded questions on the pace of its work, the experience of its examiners, and whether it is putting an unfair burden on large banks.

Although lawmakers were ostensibly there to discuss the nominations to lead the Consumer Financial Protection Bureau and the Securities and Exchange Commission, the debate over "too big to jail" continued to dominate a Senate Banking Committee hearing on Tuesday.