Policy & Regulation

Modern banking exposes our financial system to considerable risks. Government attempts to contain these risks exacerbate them. Here’s a proposed alternative: A “Depositary” that stores money for a fee without lending.

Visa and MasterCard may differ on their support of chip-and-PIN in the U.S., but they are of one mind in their approach to Australia.

Wells Fargo has temporarily stopped selling defaulted consumer debts to collections agencies. Its move follows a more drastic pullback by JPMorgan Chase and a regulatory crackdown on the collections industry.

Inspired by his old boss Ted Kennedy and steeped in the legal issues surrounding bank regulation, Daniel Tarullo, the Federal Reserve's dominant voice on supervision matters, has amassed significant influence both at home and abroad, as he helps to carry out a major reshaping of the rules governing U.S. banks and the global financial system.

The threat of regulators kicking banks out of the commodities business is driving fears that market liquidity and competition will suffer as a result.

A recap of the informed opinions (and the discussions they generated) on BankThink this week.

Sens. Elizabeth Warren, D-Mass., John McCain, R-Ariz., Maria Cantwell, D-Wash., and Angus Kin, I-Maine proposed a bill that would reinstate the Depression-era Glass-Steagall Act, and analysts believe the legislation will not pass Congress.

The Federal Deposit Insurance Corp. took seven enforcement actions and freed 13 banks from orders in June, according to a list of regulatory actions released Friday.

State laws requiring money-transmitter licenses have raised the barriers to entry for startups trying to compete with banks and entrenched companies like PayPal. But by keeping out smaller, more nimble payments companies, state regulators could affect the banking industry's long-term innovation and growth.

Richard Whiting, executive director and general counsel of the Financial Services Roundtable, has announced he will step down early next year.