Regulation

Revisions to banks' duties under the Home Mortgage Disclosure Act are coming soon, and they are meant to "ease the operational and technological burdens" of banks, the head of the Consumer Financial Protection Bureau said.

Saddle River Valley Bank, which was bought last year by Center Bancorp, allegedly failed to adequately monitor transactions with currency exchange houses in Mexico and the Dominican Republic.

Sen. Bob Corker, a co-author of legislation to overhaul the mortgage finance market, forcefully defended his proposal that private capital take at least 10% of the first loss on mortgage-backed securities. Others predicted that he'll have to water it down to advance the bill.

Perhaps not surprisingly, a federal government that lives beyond its means tragically encouraged American families to do the same.

Federal Reserve Bank of Cleveland President Sandra Pianalto said the central bank is working to improve the speed and security of the U.S. payments system.

Bank of America was ordered to pay $2.2 million to black job applicants who were unfairly rejected for teller and clerical positions in a case spanning almost two decades, according to the U.S. Department of Labor.

Comptroller of the Currency Thomas Curry said his agency plans to issue formal guidelines about the regulator's "heightened expectations" for large banks under its supervision.

Community bankers may have a long wish list of legislative changes for Congress to consider, but it is unlikely lawmakers will take up a comprehensive bill addressing those issues anytime soon.

Three years after passage of the Dodd-Frank Act, many bankers are still anxious as they wait for some rules to be written and others to be implemented. Yet a new set of regulatory and legislative challenges looms.

With every action now being scrutinized in real time, banks don't necessarily need guidelines and mandates to know if they are doing right by customers and shareholders, Fifth Third CEO Kevin Kabat says at American Banker's Regulatory Symposium.