Regulation

American Banker has won three Society of American Business Editors and Writers 2012 Best in Business awards, in the categories of Commentary, Investigative and Explanatory journalism.

Jack Lew won the Senate Finance Committee's approval to become U.S. Treasury secretary just as lawmakers struggle to avoid across-the-board government spending cuts scheduled to take effect on March 1.

Federal Reserve Board Chairman Ben Bernanke was called upon on Tuesday to come to the defense of the Dodd-Frank Act as a growing group of bipartisan lawmakers continue to insist that the financial reform law did not eliminate "too big to fail."

Comptroller of the Currency Thomas Curry attempted to dispute the notion that large banks are "too big to jail," telling a group of state attorneys general that his agency can take legal action and level "severe penalties" against an institution.

The Federal Deposit Insurance Corp.'s Quarterly Banking Profile described an industry gaining health, but it still faces several key challenges to maintaining growth.

Rep. Jeb Hensarling, the new chairman of the House Financial Services Committee, continued his criticism of the 2010 Dodd-Frank Act on Tuesday.

Small banks are concerned about the Consumer Financial Protection Bureau's enforcement potential over fair lending laws.

"Community bankers are growing increasingly concerned that the Consumer Financial Protection Bureau will eliminate one of their bread-and-butter products: balloon loans," writes American Banker's Kate Berry.

Though the agency has reported record loan volume in recent years, many lenders and borrowers remain reluctant to use its programs because they view its application process as too cumbersome and its eligibility requirements as too strict.

Federal Reserve Board Chairman Ben Bernanke said Tuesday U.S. regulators were committed to adopting an international liquidity requirement, but hinted at possible changes to fit the U.S. banking system.