Policy & Regulation

Ties between presidents and top bankers have loosened over time as armies of handlers have intervened. The result is a system in which the bankers' sense of civic duty has weakened, even as the concentration of assets in their hands has come to pose mounting systemic risk. That's according to Nomi Prins, author of All the Presidents' Bankers.

In a victory for banks, global financial regulators revised rules governing how much money must be set aside to cover losses by swaps traders, backing away from guidelines that firms warned would destabilize the $693 trillion derivatives market.

Regulators look at eight risk categories when determining a bank's health, but it's how banks deal with three in particular — interest rate risk, liquidity risk and IT/operational risk -- that could make or break them.

Bill Demchak, PNC's chief executive, gives a candid and detailed interview on a range of subjects, from the CFPBs crackdown on indirect auto lending (misguided, in his view) to the Fed's proposed Basel liquidity rule to housing finance reform.

WASHINGTON — Regulators slammed Bank of America on Wednesday with their toughest enforcement action to date on shady marketing and billing practices for add-on products like identity protection, forcing it to pay $772 million in restitution and fines.

The White House is considering two community bankers to fill an open seat on the Federal Reserve's Board of Governors, according to two people with knowledge of the process.

A study released by the Federal Deposit Insurance Corp. says statistical trends suggest that community banks have been resilient and will remain relevant, despite the rapid decline in charters.

Regulators slammed Bank of America on Wednesday with their toughest enforcement action to date on shady marketing and billing practices for add-on products like identity protection, forcing it to pay $772 million in restitution and fines. But Consumer Financial Protection Bureau officials indicated more actions are on their way.

CertusBank has terminated its top executive team, effective immediately, the $1.7 billion-asset bank announced Wednesday.

If regulators really want banks to invest more heavily in their communities then they should consider giving banks some reward, such as reduced deposit insurance premiums, for achieving a top CRA rating.