Regulation

Members of the Utah Bankers Association had a meeting at the Treasury Department canceled thanks to the federal shutdown, but they managed to get in other work and play during a visit to the nation's capital this week.

The Consumer Financial Protection Bureau charged one of the nation's largest payment processors, Meracord LLC, with a $1.4 million fine.

Bosses from some of the nation's top banks enjoyed a rare White House photo op in recent days when the administration turned to them to be part of the solution to the financial problems plaguing the capital rather than part of the problem. American Banker editors discuss whether the episode will recast bankers in a more flattering light and what perils the political mess holds for the industry.

Fed Chairman Ben Bernanke bit on James Bullard's joke about the superiority of St. Louis' baseball team over Washington's, but he avoided the bait to discuss the federal shutdown.

The Debit Interchange Fee Study Act called for a six-month regulatory study on the cost of the rules and their impact on consumers. There are good reasons to revisit that approach now.

WASHINGTON — The Senate Banking Committee will hold a hearing next week examining the possibility of the U.S. defaulting on its debt.

The Consumer Financial Protection Bureau's $1.4 million fine against a large third-party processor for debt relief companies proved that firms can no longer hide in the intricate debt collection stream.

Federal Reserve Board Gov. Jerome Powell said Thursday the agency is planning to launch a new supervision program for community banks next year.

Dorothy Savarese knows as well as any community banker the frustrations from mounting regulation. Empirical studies can illuminate compliance burdens — and their broader consequences — for policymakers, the Massachusetts thrift executive says.

We should instead preserve the right of consumers to choose the products and features that best provide for their family’s daily financial needs, not force them into limited and costly alternatives.