Regulation

WASHINGTON — Sen. Michael Crapo, R-Idaho, who is widely expected to serve as ranking member on the Senate Banking Committee in the new Congress, pleaded guilty to a misdemeanor drunken driving charge on Friday.

The former head of the House Financial Services Committee has expressed interest in temporarily filling in for Sen. John Kerry, who has been nominated to become the next U.S. Secretary of State.

Shannon McGahn, who worked with the Financial Services Committee during the Dodd-Frank debate, will run the panel's staff.

GFA Federal Credit Union in Gardener, Mass., has completed its acquisition of Monadnock Community Bank.

Collection law firm Peroutka and Peroutka has settled charges brought by the Justice Department that it violated the Americans with Disabilities Act by refusing to accept calls using Video Relay Service.

The President's nominee for the No. 3 job at the Justice Department would face tough questions from congressional Republicans over an issue critical to banks.

Regulators are expected to finalize many rules in 2013. The financial industry could see an overflow of final regulations, many of which are mandated by the Dodd-Frank Act.

What the FHA calls its "capital" actually includes claims about what it might earn in the future. Bankers would get laughed at for trying the same ploy.

Washington's budget deal contained mixed news for banks; HSBC sought to downsize it branches; and rivals pushed ahead with efforts to replace bricks and mortar with phones and cameras.

The Treasury Department has threatened to punish JPMorgan for failing to turn over documents to regulators investigating the bank's ties to Bernard Madoff's Ponzi scheme.