Policy & Regulation

Banks with assets of less than $50 billion will get a one-year reprieve from making their stress tests and capital plans adhere to Basel III standards, the Federal Reserve Board said Tuesday.

The CEO of HSBC USA says that stricter regulation is crucial to strengthening the banking system and winning back customers' trust, but she remains frustrated by the glacial pace of the rulemaking.

According to Consumer Financial Protection Bureau Director Richard Cordray, banks can expect changes to federal reporting requirements for mortgage data.

The GAO should focus on the gross benefit of being "too big to fail", not the benefit net of fines, penalties and regulatory burdens.

A senior executive at OFG Bancorp (OFG) in San Juan, Puerto Rico, is moving to the top ranks of the Federal Home Loan Bank of New York.

Revisions to banks' duties under the Home Mortgage Disclosure Act are coming soon, and they are meant to "ease the operational and technological burdens" of banks, the head of the Consumer Financial Protection Bureau said.

Saddle River Valley Bank, which was bought last year by Center Bancorp, allegedly failed to adequately monitor transactions with currency exchange houses in Mexico and the Dominican Republic.

Sen. Bob Corker, a co-author of legislation to overhaul the mortgage finance market, forcefully defended his proposal that private capital take at least 10% of the first loss on mortgage-backed securities. Others predicted that he'll have to water it down to advance the bill.

Perhaps not surprisingly, a federal government that lives beyond its means tragically encouraged American families to do the same.

Federal Reserve Bank of Cleveland President Sandra Pianalto said the central bank is working to improve the speed and security of the U.S. payments system.