Policy & Regulation

We should consolidate federal oversight of the banking industry within the Office of the Comptroller of the Currency. It would rationalize a system that has grown increasingly unwieldy over generations.

The Canadian bank received approval from the Federal Reserve to increase its ownership stake in KeyCorp to up to 14.9%. The investment is expected to close by the end of this month.

The Consumer Financial Protection Bureau issued a final rule that would allow banks to either charge $5 for overdraft fees. Alternatively they can charge a courtesy fee to cover costs, or charge higher fees but send annual percentage rate disclosures to the consumer. Bank trade groups sued the bureau to stop the rule.

After the Toronto-based bank faced record penalties in the U.S., it made new disclosures about its anti-money-laundering compliance obligations in Canada, where critics say regulators have been too lax.

Leonardo Ayala, who was a retail banker at a TD branch in Florida, faces criminal charges in connection with money-laundering activities.

A report by the Federal Deposit Insurance Corp.'s Office of Inspector General revealed deficiencies in the agency's preparedness for large bank failures.

Annualized inflation increased to 2.7% in November from 2.6% the previous month, providing further evidence that the economy remains strong despite restrictive monetary policy.

President-elect Donald Trump may opt to bypass Democratic suggestions for minority party seats on the Federal Deposit Insurance Corp.'s board of directors, setting up potential conflicts with Senate leadership over regulatory appointments.

These regulatory announcements in the banking industry are currently open to public comment.