Law and regulation

CapitalSource (CSE) in Los Angeles said that John Delaney, who was elected to Congress last month, is stepping down as its chairman.

The House is expected to vote as early as Thursday on a bill which is designed to avoid the fiscal cliff. The bill would repeal the government's ability to seize failing financial institutions.

After enjoying strong growth in its credit card business in 2012, Discover Financial Services is investing some of those returns in a more diverse range of products.

We revisit our 10 most popular BankThink posts of 2012, based on audience page views.

Rep. Maxine Waters, who will take over as top Democrat on the House Financial Services Committee next year, is urging the Commodity Futures Trading Commission to delay implementation of certain derivatives rules set to go into effect Jan. 1.

It is not likely manufacturers and owners of ATMs will experience a more interesting – or challenging – year than 2012 any time soon.

The House is expected to vote as early as late Thursday on a package of spending cuts that would include eliminating the FDIC's ability to wind down big banks and a popular mortgage modification program.

The Department of Justice and federal regulators are being asked to prosecute more individuals involved in breaking the law at financial institutions by Rep. Barney Frank.

"Although the industry's track record when it comes to Dodd-Frank implementation is hardly noteworthy, its war-game to test regulators' new powers to seize and dismantle a megabank is not only fascinating, it's exemplary," writes American Banker's Editor-at-Large Barbara Rehm.

Barney Frank is asking the Justice Department and regulators to start prosecuting more individuals involved in breaking the law at financial institutions.

Chris Bauer says Anchor's "emergency" days are over, but the Wisconsin company is still losing money and operating under a regulatory order.

Banks reported both higher trading revenues and reduced credit and risk exposure, a rare occurrence, according to a report issued Thursday by the Office of the Comptroller of the Currency.

Three more executives at Oxford Collection Agency have pleaded guilty in Connecticut federal court to charges stemming from a $10 million fraud scheme, according to the Federal Bureau of Investigation.

We must pay more attention to placing blame where it exists and punishment where warranted, not foisting penalties off on shareholders, investors, customers and employees.

Three former executives of a defunct debt-collection firm have pleaded guilty to charges they lied to a bank that received funds from the Troubled Asset Relief Program.

The Clearing House spent 10 months and $2 million to plan a simulation of a large bank failure — and the results are not only fascinating, they're exemplary.

Sens. Sherrod Brown, D-Ohio, and David Vitter, R-La., are planning to push for legislation authorizing a Government Accountability Office study that would estimate the value of the economic benefits large banks receive for being "too big to fail."

Eric Grover, partner at Intrepid Ventures, a financial services and payments consulting firm, questions why bank chieftains support the "stifling regulation" under the Dodd-Frank Act.

The Consumer Financial Protection Bureau was questioned by Sen. Sherrod Brown, D-Ohio, about problems with the credit reporting system in a study the agency released last week.

Fannie Mae and Freddie Mac may have lost billions of dollars as a result of banks' allegedly manipulating the Libor benchmark that determines the price at which banks lend to one another.