Law and regulation

Chicago is soon to become the first city to report financial activity and fraud to the Consumer Financial Protection Bureau.

Chicago will become the first city to report financial activity and fraud to the Consumer Financial Protection Bureau, but Director Richard Cordray is hoping other municipalities will follow suit.

Cyrus Amir-Mokri, the assistant secretary for financial institutions, said the industry's technological advances should be accompanied by an awareness of the risk of systems breakdowns.

The Federal Reserve Board has entered into a written agreement with NASB Financial (NASB) that requires the Grandview, Mo., company to serve as a source of strength to its bank.

Rep. Maxine Waters was formally elected as ranking member for the House Financial Services Committee by the House Democratic Caucus.

Paul Tucker, deputy governor of the Bank of England, will address the FDIC's special advisory committee on resolutions to discuss coordination efforts between the U.S. and U.K.

Discover Financial Services is moving its fiscal year.

If we can rate the reliability, safety and efficiency of automobiles, we can do the same for bank risk management.

In the immediate aftermath of the superstorm Sandy, prepaid cards were summoned to help even though the products have spotty track record in times of extreme need.

More than 600 collection agencies and creditors were sued in the Nov. 1-15 period and FDCPA legislation is on track to finish six percent behind last year's record, according to data from district courts.

The House Democratic Caucus formally elected Rep. Maxine Waters Tuesday as ranking member for the House Financial Services Committee.

The Senate passed an amendment Monday that would tighten a law barring lenders from charging members of the military more than 36% interest on their loans.

The FDIC's third-quarter report on the health of the industry shows lending climbed upward, but reduced loss provisions and sales of existing assets are what boosted earnings.

Federal Reserve Board Gov. Daniel Tarullo voiced concern Tuesday about a potential move to reestablish Glass-Steagall, a Depression-era law that separated investment and commercial banking.

The Credit Union National Association is urging Senate leaders not to pass an extension of the Transaction Account Guarantee program.

Just when you thought it couldn't get any nastier between banks and credit unions, the credit unions are opposing a TAG extension that many small banks have been pushing for.

Anywhere in the world, if you had $55 billion in capital, and then lost $55 billion, your capital would be zero. But under the Fed’s own special accounting rule, if it lost $55 billion, its capital would still be $55 billion.

Senator-elect Elizabeth Warren successfully beat out GOP incumbent Sen. Scott Brown securing herself a spot on the Senate Banking Committee.

Senator-elect Elizabeth Warren has secured a spot on the Senate Banking Committee and she'll be joined by Sen. Joe Manchin, according to a Democratic Senate aide.

Better communication can improve the relationship between banks and their regulators.