Regulation

Federal Reserve officials intensely dissected the decision one day after regulators chose to let Lehman Brothers fail without government support, according to meeting transcripts released Friday.

The Federal Reserve on Friday released transcripts from more than a dozen Federal Open Market Committee meetings and conference calls held during 2008, at the height of the financial crisis. The hundreds of pages of recorded history show how policymakers struggled with their decision to allow the investment bank Lehman Brothers to collapse and offer intimations of the turmoil yet to come from Fannie Mae and Freddie Mac.

Critics have complained recently that bank regulators and the Justice Department have been overstepping their legal authority and acting like moral police. American Banker staffers discuss what's behind the charges and whether they stand up to scrutiny.

Bankers, industry representatives and other experts largely praise the FDIC's plan to unwind troubled behemoths, but suggest a host of issues that the agency needs to address before it can ensure the end of "too big to fail."

Two Florida men have been sentenced to serve seven years in federal prison for swindling more than $4 million from borrowers who were behind on their mortgages.

U.S. banks are seeking to shield from scrutiny the $30 billion they collect annually in checking-account fees, saying a proposed requirement for periodic reports is unacceptable even if it exempts small institutions.

JPMorgan Chase recovered only $593 million in charged-off credit card debts in 2013 - a slump of 57% from three years earlier. The drop reflects the improving economy and the regulatory pressures facing JPMorgan and other big banks over their collection practices.

Jennifer Shasky Calvery offered a character from the hit TV series as an example of a "third-party money launderer."

The judge who presided over the bankruptcy of Lehman Brothers Holdings Inc., the largest in U.S. history, will join law firm Morrison Foerster LLP next month to help lead its restructuring and insolvency group.

The Consumer Financial Protection Bureau's crackdown on mortgage servicers' operations will increase the pressure on lenders to improve their processes, paperwork and communications with borrowers. American Banker journalists discuss how both banks and nonbank servicers can get ahead of the new regulatory scrutiny.