Policy & Regulation

State regulators in South Carolina closed the $54 million-asset Allendale County Bank late Friday.

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The Federal Deposit Insurance Corp. took action against six lenders and ended orders against 14 firms in the FDIC's latest monthly roundup of enforcement actions.

Senate Banking Committee leaders want to win as much support as possible for their housing finance reform legislation before a panel vote on Tuesday, but it's possible that a failure to win over certain members could ultimately assist their cause.

Swift, the financial messaging service, has launched a new version of its Bankers World Online directory, which includes added information to aid international payments.

A House Financial Services subcommittee will hold a meeting Tuesday to authorize subpoenas against three officials at the Consumer Financial Protection Bureau who previously declined to testify about employee allegations of discrimination and retaliation.

A recap of the informed opinions (and the discussions they generated) on BankThink this week.

Fears that the Federal Reserve's reduction in mortgage-backed securities purchases this year would cause rates to skyrocket failed to come true. That's partly because there's less mortgage paper to buy.

By addressing concerns about how distressed loans are resolved, banks and non-banks alike can make a virtue out of necessity and regain the trust of policy makers and the public.

The issue of serving so-called "underbanked" borrowers has taken on a new urgency since regulators began cracking down on payday and certain other low-dollar, high-interest loans, prompting fears of a credit crunch for low-income consumers. The FDIC is looking at banking by mobile phone and other possible solutions as a way of bridging the gap.