Policy & Regulation

A bipartisan group of lawmakers is urging regulators to reconsider a provision in the recently finalized Volcker rule that they warn could harm community banks that own trust-preferred securities.

Many small banks are well managed and provide value to their customers and investors. The more profound question for the economy is what effect the little guys have on the stability and efficiency of the U.S. financial system.

In her final column for American Banker, Editor-at-Large Barbara Rehm says there is no denying the system is safer than it was in 2007, and while further changes may be needed, it makes sense to "take a breather."

Barbara A. Rehm, the former editor-in-chief turned columnist for American Banker, is leaving the paper to join Promontory Financial Group.

The Consumer Financial Protection Bureau issued a consumer advisory report on Wednesday which is provoking concerns that the agency may be inadvertently encouraging borrowers to challenge their lenders in court after new mortgage rules go into effect in the new year.

Federal Reserve Board Chairman Ben Bernanke said regulators have made progress over the last year, but more reforms need to be made in order to keep the financial system safe.

The Independent Community Bankers of America and the American Association of Bank Directors warned regulators that the Volcker Rule will force banks to lower capital to dangerously low levels.

The $1.1 billion-asset company said in a regulatory filing Thursday that it sold bank and insurance trust-preferred collateralized debt obligations that cost about $8.3 million -- at an $850,000 loss.

Ellen Richey has become the new chief legal officer at Visa, where she will be responsible for legal functions as well as oversight of the card network's compliance and audit teams.

CLO managers have long lobbied against proposed rules requiring them to keep "skin in the game" of these deals, arguing that such a requirement would increase the cost of financing for U.S. companies.