Regulation

When Congress passed the Dodd-Frank Act in 2010, one of its provisions banned outright bounties that that mortgage lenders had formerly paid to brokers for steering borrowers toward high-interest rate loans.

The common-sense steps taken in the bill will help even the playing field between community banks and big financial firms.

A move by the U.S. government to rein in the unregulated use of Bitcoin involved the seizure of a Japanese company's account at Wells Fargo (WFC).

Consumer advocates believe the bounties banks pay to car dealers for steering customers to high-interest loans are abusive. But with a ban likely to spark a political backlash, the Consumer Financial Protection Bureau is instead seeking to prove the markups are discriminatory.

The Senate will hold a vote to confirm Richard Cordray as director of the Consumer Financial Protection Bureau sometime next week.

Lawmakers in both chambers are working to pass a major farm bill that will determine agricultural policy for the next five years, legislation that could have implications for rural lenders.

A new report from the Bipartisan Policy Center released Tuesday said that "single point of entry" resolutions, a strategy favored by the Federal Deposit Insurance Corp., are a viable option to solve the "too big to fail" problem.

Top Federal Reserve Board officials, including Fed Chairman Ben Bernanke, believe it is best to carry out the current reform process to solve the "too big to fail" issue, but are ready to significantly increase capital standards if the problem persists.

In a speech Wednesday, Federal Deposit Insurance Corp. Chairman Martin Gruenberg moved closer to the views of other top officials who have already backed a higher ratio, and provided an update on global coordination of resolution plans.

Central Arizona Bank, a unit of Capitol Bancorp, was set to be shut down with two sister banks last Friday, but a legal challenge bought it a few extra days.