Policy & Regulation

Senate lawmakers pressed government officials about whether they’re doing enough to protect the financial system from cyberattacks on Wednesday, warning that more must be done next year to help banks defend themselves.

The spending package unveiled Tuesday would end Department of Veterans Affairs guarantees on larger loans starting Jan. 1.

The House approved an extension of the Terrorism Risk Insurance Act on Wednesday by a wide margin, but the financial industry is also poised to win several other possible legislative battles this week.

The battle over the nomination of Antonio Weiss, a relatively unknown investment banker, is less about him and more about the legacy and continuing influence of former Treasury Secretary Robert Rubin.

Morgan Stanley agreed to pay $4 million to settle U.S. regulatory claims that it lacked adequate risk controls, allowing a rogue employee at a client firm to engage in fraudulent trading.

The Rural Housing Service, an agency within the Department of Agriculture, is working to speed up loan processing and make other changes to boost lending in rural communities.

New York banking regulator Benjamin Lawsky provided details Wednesday about his plan to require the state's financial institutions to strengthen their cyberdefense systems.

TD Bank has settled with the state of Massachusetts after a data breach exposed the personal information of as many as 260,000 customers.

House leaders released a proposed six-year extension of a federal program to insure property against the risk of terrorism, including a Republican proposal to revise a bank regulatory law.

Earlier opposition to the idea appears to have eased in the wake of a new proposal that would use interbank fees to cover the cost of technological upgrades.