Policy & Regulation

The American Bankers Association announced Wednesday that it will drop its request for emergency relief in pending litigation over the Volcker Rule, but declined to stop the suit entirely.

Policymakers say they want to bring "underbanked" groups into the traditional banking system for safer consumer options, small-business growth, a sound banking system and other laudable reasons. But today's rules and aggressive enforcement work against these goals.

Apple will refund about $32 million to consumers after the government alleged the company charged minors for mobile app purchases without their parents' consent.

President Barack Obama plans to nominate Maria Contreras-Sweet, founder of a Latino-owned community bank in Los Angeles, as the next head of the Small Business Administration, according to multiple news reports.

Regions Financial (RF) is discontinuing its controversial short-term consumer loan product, the company announced Wednesday.

Bank employees may have profited by trading ahead of Fannie Mae and Freddie Mac swap orders, Reuters reported, citing a description of the practice in a Federal Bureau of Investigation intelligence bulletin.

Under an interim rule released late Tuesday, most small banks -- and some large ones -- would not have to take writedowns on consolidated debt obligations backed by trust-preferred securities.

In the wake of a new edict from Washington, the San Francisco bank must decide whether to discontinue the controversial consumer loan product.

Just a few days after it took effect, House lawmakers began a renewed push for amendments to the "qualified mortgage" rule, arguing it will unintentionally squeeze out key borrowers.

Senate Democrats' decision to invoke the "nuclear option" has shifted the composition of a powerful federal appeals court, a move that could bolster the banking agencies against future industry challenges to the Dodd-Frank Act.