Policy & Regulation

It's not clear there's time left in the legislative calendar for President Obama to fill the final two slots on the Federal Reserve Board this year, raising questions about what happens to those seats after the elections.

WASHINGTON — The Consumer Financial Protection Bureau has finalized a rule subjecting large nonbank international money transmitters to supervision by the bureau.

Just two days after Apple unveiled its new program designed to speed the adoption and use of mobile payments, Consumer Financial Protection Bureau Director Richard Cordray cited the burgeoning field as a key area of concern.

The Treasury Department is monitoring Wall Street efforts to escape U.S. swap-trading restrictions for overseas derivatives, according to a department official.

A top advisor to Treasury Secretary Jack Lew says real estate investment trusts "appear to be aligned" with the Federal Home Loan Banks' mission. The Federal Housing Finance Agency wants to boot REITs from the FHLB system.

Two days after Apple unveiled its attempt to advance mobile payments, CFPB Director Richard Cordray cited the burgeoning field as a key area of concern his agency needs to examine.

The American Association of Bank Directors recently hired policy veteran Rich Whiting as executive director, and he immediately helped weigh in on some new OCC standards that concerned the trade group.

The head of the Independent Community Bankers of America says the government has gone too far demanding banks act like law enforcement.

The Consumer Bankers Association frequently tangles with the Consumer Financial Protection Bureau, but its new chief Tim Wennes struck a more conciliatory tone in an interview. Rules that promote transparency and consumer understanding are good, but consumer choice has to be preserved, he said.

National Credit Union Administration board member Rick Metsger said a Federal Housing Finance Agency proposal to restrict Federal Home Loan Bank membership could give banks an unfair advantage over some smaller credit unions.