Policy & Regulation

WASHINGTON — Congress should consider streamlining the financial regulatory structure and give the Financial Stability Oversight Council broader authority to respond to systemic risks, according to a Government Accountability Office report published this week.

A former staff attorney with New York's city government has been named the top lawyer for the New York State Department of Financial Services.

The Coalition for Safe Loan Alternatives intends to become a peer-to-peer forum for best practices among the alternatives to payday loans. The group will not advocate for policy changes. Rather, it aims to offer a platform for local organizations to share information and compare ways to offer low-cost access to credit.

If the general election comes down to Hillary Clinton against Donald Trump, many community bankers are uncertain whom they will back. They fear Clinton will continue the regulatory crackdown against the industry, but are unsure what plans Trump would put in motion.

WASHINGTON — After being forced by a court to withdraw its enforcement action against Tanzanian bank FBME, the Treasury Department's Financial Crimes Enforcement Network has once again finalized a rule requiring U.S. institutions to cut off ties with the bank.

Those criticizing the Consumer Financial Protection Bureau's governing structure object to the idea of a regulatory agency successfully protecting consumers and the public interest.

The ambiguity over whether regulators favor risk sensitivity or simplicity in setting capital requirements does not help risk management efforts.

As online business lenders grow in number, size and prominence, a new trade group is being launched to represent their interests in Washington.

Freedom Bank in Columbia Falls, Mont., has been released from a consent order that the FDIC and the Montana Division of Banking and Financial Institutions had implemented in December 2009.

Bank of America, Barclays and a dozen more banks must face investor claims that they rigged a benchmark used in the sales of interest-rate derivatives and other financial instruments.