Policy & Regulation

The Federal Reserve Bank of Dallas has named Robert Steven Kaplan, a Harvard Business School professor, as its new president and chief executive officer.

The SEC's new rule requiring companies to disclose the relationship between CEO pay and that of the median employee may be a headache for big banks. But smaller financial institutions should have an easier time calculating the pay ratios, and the numbers are unlikely to attract much scrutiny.

The $120 million-asset mutual thrift filed its application with federal regulators this month. Citizens expects the formation to be completed by the first quarter, Chief Executive Tommy Johnson said in an interview.

Indictments are still pending in the case of an alleged Bitcoin money laundering scheme involving a tiny low-income credit union in New Jersey.

The U.S. Justice Department is looking into Citigroup's dealings with companies linked to Mexican billionaire Carlos Hank Rhon as part of an expanding investigation into the bank's money-laundering controls.

While marketplace lenders have introduced valuable innovation into financial services, they carry a fundamental flaw that threatens to undermine their business, destabilize financial markets and cause real economic hardship.

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WASHINGTON — Four more Federal Home Loan Banks have won regulatory approval to participate in a program that allows member institutions to sell jumbo mortgage loans through a conduit to Redwood Trust.

In his first interview since taking over HSBC's U.S. bank late last year, CEO Patrick Burke contends that the U.S. bank could prove to be HSBC's hidden gem provided it focuses on multinational corporate clients and cooperates better with its global affiliates.

Banks that sold faulty mortgage-backed securities right before the crisis have suffered a string of legal defeats over the timing of government lawsuits, but some experts believe the industry may still have a shot in the Supreme Court.