Policy & Regulation

The Senate voted 59-34 Friday to end debate on the nomination of Janet Yellen to head the Federal Reserve.

Ally Financial (GKM) and Ally Bank will pay $98 million in fines and restitution to settle government claims that they discriminated against minorities through their indirect auto lending business.

Hudson Valley Holding (HVB) in Yonkers, N.Y., has hired a former regulator to be chief risk officer for its bank.

The American Association of Bank Directors and the Independent Community Bankers of America are objecting to a provision in the Volcker Rule requiring banks to shed trust-preferred securities.

First Citizens Banc (FCZA) in Sandusky, Ohio, has raised $25 million to exit the Troubled Asset Relief Program.

Ally Financial (GKM) and Ally Bank will pay $98 million in fines and restitution to settle government claims that they discriminated against minorities through their indirect auto lending business.

Compliance is a top growing expense, the regulatory bar has increased, banks needs better talent management and cybersecurity is everyone's problem.

Guidance released by regulators meant to clarify the impact of the Volcker Rule on small institutions was quickly rejected by banks.

Although Ocwen Financial agreed to pay more than $2 billion to settle allegations it mishandled foreclosures and mortgages for thousands of borrowers, it could have been even worse for the country's largest nonbank servicer.

In the space of just a few hours, regulators issued -- and banks condemned -- guidance meant to clarify the impact of the Volcker Rule on small institutions.