Law and regulation

Although Steven Mnuchin has close ties to Wall Street and was involved in some contentious deals, Democrats face an uphill battle making the case that those connections disqualify him to serve as Treasury secretary.

A federal judge heard arguments from ICBA and NCUA on whether to dismiss the banking group's legal challenge to the credit union regulator's changes to the member business lending rule. A decision on the dismissal could come as early as January.

Borrowers served by the FHA program, particularly first-time buyers and minorities, have benefited from nonbanks' increase in lending. Those independent lenders should be commended for filling a gap.

American Banker readers share their views on the most pressing banking topics of the week. Comments are excerpted from reader response sections of AmericanBanker.com articles and our social media platforms.

A regulatory 2017 scorecard for Fannie Mae and Freddie Mac calls on the firms to transfer a significant portion of credit risk to third-party private investors on at least 90% of unpaid principal balance of newly acquired single-family mortgages.

With the completion of the final total loss absorbing capacity and bank regulators' decision this week to approve the living wills of all but one of the large banks, industry representatives are claiming victory in the battle to prevent future government bailouts. But some critics aren't so certain.

Prudential Financial said the relationship with Wells Fargo that led to a whistle-blower lawsuit and state probes over suspected sales abuses generated a tiny fraction of the life insurer's revenue.

It is not a clear-cut statement to say Fannie Mae and Freddie Mac need more capital, and it detracts from the real debate over long-term housing finance reform.

The question of how and why Wells Fargo failed its living will test is an issue the bank needs to address soon as it faces another deadline to fix problems identified by regulators.

Popular Inc. in San Juan, Puerto Rico, will absorb another hit to its earnings tied to a dispute with the Federal Deposit Insurance Corp.

The Federal Reserve released the final version of its total loss absorbing capacity rule – one of the final elements of the post-crisis regulatory framework meant to provide a means of recapitalizing a failed megabank.

The National Credit Union Administration rule expanding member business lending introduces new risks and lacks legal basis.

WASHINGTON — Senate lawmakers are putting pressure on the Treasury Department's financial crimes unit to clarify to banks that businesses hired by marijuana growers and dispensers should not be treated like pot firms themselves.

Federal Reserve Chair Janet Yellen said she is advising the incoming Trump administration not to roll back the improvements in bank safety and soundness enshrined in Dodd-Frank, but acknowledged that recent scandals “certainly suggest there is room for improvement” when it comes to bank culture.

The Federal Open Market Committee agreed unanimously Wednesday to raise the federal funds rate by 25 basis points, a move that was widely anticipated by markets. The committee's expectations for interest rates in 2017, however, were more varied.

The mortgage interest deduction has been a pillar of U.S. housing policy for more than a century, but Congress appears ready to consider significant changes to it that some industry players worry could effectively render it moot.

A legislative proposal would expand Fannie Mae and Freddie Mac's use of specially-created debt securities to share their risk with private investors, but such risk transfer deals are not a replacement for core capital.

A public interest law firm filed a lawsuit Tuesday against the Consumer Financial Protection Bureau for failing to produce documents that showed how the agency decided to ban mandatory arbitration clauses.

Banks should embrace artificial intelligence so that they can more easily navigate policy shifts that will affect their compliance resources and processes.

After Wells Fargo became the first U.S. bank ever sanctioned over its resolution plan, observers are wondering what it means for the future of the institution and the living will process.