Policy & Regulation

A former executive at a Norfolk, Va., bank has been sentenced to eight years in federal prison for his role in the fraud that led to the bank's collapse.

Several political candidates have begun accepting bitcoins for campaign contribution—but the future of this practice hinges on a Federal Election Commission decision coming by October 28.

Credit card issuers are charging less in penalties and disclosing previously hidden fees, but the CFPB still has concerns about deceptive add-on products and deferred interest rate specials.

The $18 billion-asset company said late Tuesday it has acquired certain assets and liabilities from Surety Financial Services in Sherman Oaks, Calif. The companies did not disclose the terms or specify the assets that were transferred.

The $2 billion-asset company said Tuesday that it had fully redeemed the $20.5 million in preferred shares issued through the program. Park Sterling funded the redemption with a payment from its bank.

Although American Banker's Editor-at-Large Barbara Rehm believes the implementation of Dodd-Frank is taking too long, enough people have told her otherwise, so she presents our readers with the counter-argument.

James Mackey will become executive vice president and CFO of the government-sponsored enterprise the week of Nov. 11, Freddie announced Monday.

Carol Galante, the Federal Housing Administration's commissioner, sought to clarify the agency's plans for a government shutdown on Tuesday, emphasizing that it will continue to endorse single-family loans during the shutdown in contrast to earlier reports.

Under the 2010 Dodd-Frank Act, regulators have the authority to apply tighter regulations on firms that pose a significant threat to the financial system-and they are doing just that with asset management firms.

Timothy Pawlenty, president and chief executive of the Financial Services Roundtable, said Tuesday that housing finance reform is unlikely to pass until after the 2014 mid-term elections.