Policy & Regulation

More than five years after the financial crisis, President Obama could once again turn some attention to the Dodd-Frank Act and the housing market during his State of the Union address next week.

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

JPMorgan Chase & Co. (JPM) gave Chief Executive Officer Jamie Dimon a 74 percent raise to $20 million last year, bringing his pay closer to where it stood before the board faulted his oversight of botched derivatives bets.

Regulators have been investigating a broader range of offenses that can trigger money laundering charges than a few years ago, says Henry Balani, a managing director at consulting firm Accuity. In addition to traditional predicate offenses (such as sanctions violations), banks now must guard against potential laundering of proceeds from tax evasion, bribery and corruption, and securities and mortgage fraud. Also, global banks that hope to grow by financing trade, particularly in newly opened markets like Shanghai, must make sure that the goods transported under their letters of credit are not used for nefarious purposes, Balani says.

Only three pages out of 40 in the OCC’s recent report cover interest rate risk. The discussion is toward the back. And the detail provided in quantifying exposures is scant.

WASHINGTON — The spotlight on massive credit card breaches at retailers has again prompted lawmakers to consider data security reform, but whether a bill will actually move through Congress is still a huge question mark.

Large international money transmitters would have to follow the same federal remittance rules that apply to banks under a Consumer Financial Protection Bureau proposal released today.

A new Consumer Financial Protection Bureau proposal would put large nonbank money transmitters on more equal footing with banks and credit unions required to follow federal remittance rules.

Farmers Capital Bank (FFKT) in Frankfort, Ky., is one step closer to being freed from a regulatory order.

The Target and Neiman Marcus breaches have reignited data security as an issue on Capitol Hill, but many hurdles still stand in the way of legislation.