Regulation

The White House officially nominated Jacob Lew as Treasury secretary, after widespread speculation that Lew would get the nod.

Acquirers consider the Payment Card Industry data security standards slightly more important as a source of revenue than as an approach to security, new survey data indicates.

The checklist for routine maintenance on the three automated teller machines owned by First Community Bank and Trust of Beecher, Ill., contains one head-scratching item: the maintenance worker is regularly required to take a photo of the machine to keep on file at the $147 million-asset bank as a defense in potential lawsuits. Now Greg Ohlendorf, the bank's chief executive officer, can cross that mundane task off the list.

Donna Goodrich, new chairman of the Federal Home Loan Bank of Atlanta, promises to represent banks of all sizes — not just bigger ones like BB&T — and says FHLBs could be pivotal to housing reform.

Enterprise Financial in St. Louis, Mo., has fully exited the Troubled Asset Relief Program.

The Federal Reserve Board has lifted a memorandum of understanding against First M&F (FMFC) in Kosciusko, Miss.

The CFPB released its long-awaited final rule laying out how lenders must ensure borrowers have the ability to repay a loan, including creating a carve-out for qualified mortgages.

Securities regulators have charged three executives of a failed bank in Virginia with deceiving investors about the health of its loan portfolio at the apex of the financial crisis.

White House Chief of Staff Jacob Lew, who is widely expected to be nominated as Treasury secretary, is something of an unknown quantity to the financial industry.

Foreign banks operating within the U.S. will be penalized despite a change made by regulators to provide more time to comply with pending swap restrictions.