Policy & Regulation

Rep. Barney Frank, D-Mass., will announce today that he will not seek re-election next year, capping a 32-year career in Congress, a spokesman said Monday.

Banks are going to need to make hard decisions to exit some traditional businesses. The question is how to do it to maximize what you get at the exit, and in such a way that remaining businesses can thrive.

Joseph Longino, the point man on accounting and regulatory matters at Sandler O'Neill & Partners LP, will join the advisory council of the Financial Accounting Standards Board next year.

The PMI Group Inc., Walnut Creek, Calif., has filed for Chapter 11 bankruptcy protection in the U.S. Bankruptcy Court for the District of Delaware.

The Fed's approval marks the first time a prepaid card company has been allowed to buy a bank. Fed Gov. Duke objected, warning that the deal was too risky.

The new sanctions will add to a growing web of requirements facing U.S. banks, but government officials argue that the cost of compliance will be small.

Steven Horton, acting president and chief executive officer of the Federal Home Loan Bank of Seattle, is retiring, the bank said Wednesday.

With the one-year deadline for implementing new Basel banking rules looming, Canada's model for implementing so-called nonviability contingent capital is attracting widespread interest from global regulators.

Illinois Attorney General Lisa Madigan plans to fight the use of arrest warrants by collectors, vowing in a recent interview to push judges to stop the practice and promising to pursue enforcement against companies that seek such warrants under Illinois law.

Federal Reserve Chairman Ben S. Bernanke and fellow U.S. policymakers may find themselves hampered in restoring financial stability should the European debt crisis spread to America.