Policy & Regulation

Bank of America was ordered to pay $2.2 million to black job applicants who were unfairly rejected for teller and clerical positions in a case spanning almost two decades, according to the U.S. Department of Labor.

Comptroller of the Currency Thomas Curry said his agency plans to issue formal guidelines about the regulator's "heightened expectations" for large banks under its supervision.

Community bankers may have a long wish list of legislative changes for Congress to consider, but it is unlikely lawmakers will take up a comprehensive bill addressing those issues anytime soon.

Three years after passage of the Dodd-Frank Act, many bankers are still anxious as they wait for some rules to be written and others to be implemented. Yet a new set of regulatory and legislative challenges looms.

With every action now being scrutinized in real time, banks don't necessarily need guidelines and mandates to know if they are doing right by customers and shareholders, Fifth Third CEO Kevin Kabat says at American Banker's Regulatory Symposium.

You would be forgiven in thinking the OCC has been solely preoccupied with JPMorgan Chase in recent days, but the agency has disciplined three other national banks since late August, according to its monthly roundup of enforcement actions.

JPMorgan Chase will be charged by federal prosecutors in California in connection with sales of mortgage-backed securities, a person familiar with the matter said.

Federal Deposit Insurance Corp. Chairman Martin Gruenberg tells audience at American Banker's Regulatory Symposium of need for "complementary" relationship between leverage and risk-based capital ratios.

Regulators slapped Toronto-Dominion Bank's main U.S. unit with more than $52 million in fines for violating the Bank Secrecy Act and securities laws in relation to a Ponzi scheme in Florida.

Despite Basel III's shortcomings, I have yet to hear of a better solution than combining risk-weighted assets with a strong leverage ratio. Both require uniform guidelines for banks and disclosure.