Policy & Regulation

Regulators can avoid extensive, after-the-fact investigations of banks' illegal actions by standardizing the form and content of transaction data so they can spot compliance problems in real time.

The Consumer Financial Protection Bureau gave a strong warning to the banking industry on Tuesday when it fined Regions Financial $7.5 million for allegedly charging illegal overdraft fees.

At Citigroup and Wells Fargo, shareholder proposals to disclose more about lobbying garnered double-digit percentages of the vote. PNC basked in environmentalists' admiration — after agreeing to leave business on the table.

The Senate Banking Committee kicked off the first of several hearings on the insurance industry this week, as companies brace for heightened oversight under the Dodd-Frank Act and other efforts.

Regions Financial will pay a $7.5 million fine after the Consumer Financial Protection Bureau said it charged consumers illegal overdraft fees on checking and payday-loan-like accounts.

Bank of America is being investigated by the Securities and Exchange Commission over whether the lender broke rules designed to safeguard customer accounts, according to the Wall Street Journal.

The CFPB is purging the dark corners of debt collection and buying. It's a revolution that's been a long time coming.

A step-by-step look at GE Capital's breakup plan and its likely aftermath, including recent comments by bankers who may be looking to buy various parts.

New York Attorney General Eric Schneiderman is urging banks to reevaluate how they use credit bureaus like ChexSystems, after his investigation found that inaccurate data reported by banks is preventing some consumers from opening checking and savings accounts. Three banks already have agreed to modify their use of ChexSystems in screening potential customers.

For more than a decade, U.S. regulators have been advising bankers to know more about their customers than who they are. In the next five years that may become the global norm as technology allows more granular transaction monitoring.