Policy & Regulation

American Banker's metro Washington reporters found themselves working above a crime scene on Wednesday, after a PNC bank branch in the same building was robbed.

But the consulting firm says the sector remains an integral part of the U.S. financial system and cautions against overregulating it.

The Board of Governors will hold a public meeting to vote on a set of proposals that will implement global banking rules, known as Basel III.

Rep. Barney Frank has introduced a bill that would prohibit financial executives from purchasing insurance to protect themselves from compensation clawback penalties.

The American Bankers Association joined trade groups in every state Wednesday to urge passage of a bill easing fee disclosure rules at automated tellers.

Banks received two years to bring automated teller machines into compliance with the Americans with Disabilities Act. As soon as the deadline passed, plaintiffs' lawyers pounced on the stragglers.

Jeremy Stein, a professor of economics at Harvard University, became the seventh governor to join the Federal Reserve Board, the central bank said Wednesday.

Wilshire State Bank in Los Angeles has been released from an enforcement order that required it to boost its capital ratios and reduce its level of problem loans.

Prepaid companies have lowered their card fees over the past few years, but now regulators may give the still-fractured industry another push towards simpler prices.

Politicians and regulators want taxpayers to believe two things: first, that financial crisis had multiple complex causes mostly related to excessive risk-taking, conflicts of interest and deregulation — a view unconvincingly supported by the exculpatory 662 page summary Report of the Financial Crisis Inquiry Commission; second, that public regulation is a sisyphean task requiring the 2313 page Dodd-Frank Act. This diagnosis and prescription are both wrong.