Policy & Regulation

The Senate is preparing to consider legislation that would allow credit unions to engage in more commercial lending, a proposal that the industry has long championed. This proposal is a really bad idea, but because of the political constituency behind credit unions it may actually be passed into law. In the event, the National Credit Union Association and the U.S. taxpayer may be facing significant losses in the future.

As Thomas Hoenig and Jeremiah Norton step into their new Federal Deposit Insurance Corp. roles on Monday, the dynamic for the agency's board could significantly shift.

The Treasury Department has not said if it intends to auction off more stakes it owns in community banks, but Yadkin Valley Financial (YAVY) in Elkin, N.C., wants to be ready in case it does.

Wells Fargo and JPMorgan Chase reclassified many second mortgages as delinquent, even though they are current, because the first mortgages to which they are subordinate have already gone delinquent.

American Banker readers share their views on the most pressing banking topics of the week. As excerpted from the Comments sections of AmericanBanker.com articles.

In a letter to Senate leaders, the head of a Glendale, Calif., credit union broke with the rest of the industry on legislation that would allow credit unions to make more commercial loans.

The Consumer Financial Protection Bureau is seeking comment on a proposal to revise a Federal Reserve rule limiting credit card fees issued before a borrower opens an account.

Charles Plosser, the president of the Federal Reserve Bank of Philadelphia, on Thursday sided with top regulators in saying they were unlikely to complete the so-called "Volcker Rule" by its summer deadline.

The Consumer Financial Protection Bureau is seeking comment on a proposal to revise a Federal Reserve rule limiting credit card fees issued before a borrower opens an account.

The Treasury Department's recent auction of preferred shares in six banks may signal that the agency has finally found a path to end its bank investments under the Troubled Asset Relief Program.