Regulation

Regions Financial (RF) is discontinuing its controversial short-term consumer loan product, the company announced Wednesday.

Bank employees may have profited by trading ahead of Fannie Mae and Freddie Mac swap orders, Reuters reported, citing a description of the practice in a Federal Bureau of Investigation intelligence bulletin.

Under an interim rule released late Tuesday, most small banks -- and some large ones -- would not have to take writedowns on consolidated debt obligations backed by trust-preferred securities.

In the wake of a new edict from Washington, the San Francisco bank must decide whether to discontinue the controversial consumer loan product.

Just a few days after it took effect, House lawmakers began a renewed push for amendments to the "qualified mortgage" rule, arguing it will unintentionally squeeze out key borrowers.

Senate Democrats' decision to invoke the "nuclear option" has shifted the composition of a powerful federal appeals court, a move that could bolster the banking agencies against future industry challenges to the Dodd-Frank Act.

The Federal Reserve Board unveiled a concept proposal Tuesday outlining how it plans to limit banks' activities in physical commodities, a day ahead of a Senate subcommittee hearing devoted to the issue.

New York state regulator Benjamin Lawsky on Tuesday recommended reforms that aim to prevent online payday lenders from debiting consumers' bank accounts through the automated clearing house network.

The CFPB should establish a working group – of banks, credit reporting agencies, other regulators, Silicon Valley startups, retail consumer lenders and others – to ensure a level regulatory playing field and to conduct a thoughtful examination of American consumer credit.

TriSummit Bank in Kingsport, Tenn., has agreed to buy Community National Bank of the Lakeway Area (CNLA) in Morristown, Tenn.