Law and regulation

Sen. Bob Corker released a statement downplaying an earlier report that suggested the lawmaker is "angling to broker a compromise" with President Obama over the confirmation of Richard Cordray as director of the Consumer Financial Protection Bureau.

The FDIC and the European Commission earlier this month held the first of what is expected to be two "working group" meetings this year on international coordination.

Policymakers can shape the Dodd-Frank risk retention requirements in a way that brings private investment back to the multifamily mortgage business. The window of opportunity is short.

Stakeholders have been offered more time from the Federal Reserve Board to weigh in on the proposal that would overhaul the way the U.S. central bank supervises foreign banks operating within the U.S.

Radio silence from the CFPB on how it views the enforcement of fair lending laws is making community bankers nervous.

It was a quiet week in Washington last week, with lawmakers out of town for President's Day. But the threat of sequester continues to hang over Capitol Hill, and regulators are making plans about what to target next. Following are the top five stories in Regulation and Reform last week:

The Bipartisan Policy Center has released a proposal that calls for a catastrophic government guarantee to backstop mortgages, similar to an idea first floated by the Treasury Department two years ago.

Monday marked the 150th anniversary of the Office of the Comptroller of the Currency, a landmark the agency noted by touting its accomplishments.

A century and a half ago, the National Bank Act was born with a mission to promote a strong, vibrant national banking system. What it created was a dual banking system that has been meeting the changing needs of bank customers ever since.

A California man has been accused of running a scheme to prevent banks from foreclosing on properties.

The Treasury Department has begun an auction for its Troubled Asset Relief Program stake in nine more banks.

Take the Federal Housing Administration out of HUD and put it under a commission. A self-funded, independent government corporation would be a major step toward comprehensive housing finance reform.

With fears growing about the debt collection practices of payday lenders in England, the Office of Fair Trading now has the authority to suspend collection agencies that target certain vulnerable consumers.

When a single official has very great power over a small number of firms such as the megabanks, the result too often is regulatory capture.

Today’s modern payment systems have their genesis in a number of older ventures that plied everything from the Web to biometrics to enable digital commerce. Some are gone, and some have evolved unrecognizably into their current form. Here’s a look.

Lead Bank in Garden City, Mo., plans to expand the range of services it offers by becoming a state-chartered trust company.

Until recently, the card network generally prohibited its retail partners from offering special deals to customers that paid with a specific bank's credit or debit card. But Visa quietly lifted the ban on Feb. 1, paving the way for retailers to cut deals with card issuers, according to Visa group president of the Americas William Sheedy.

The payments network will now allow merchants to offer discounts to customers who use specific cards, as new CEO Charles Scharf rethinks how Visa does business.

Observers say it's unlikely Congress will be able to strike a deal to stop across-the-board budget cuts from going into effect next week, raising concerns for bankers and regulators alike.

The chip-and-PIN version of PayPal's Here mobile card reader is set to debut overseas this year, but the splash will be felt in the U.S. as well.