Regulation

The Senate Banking Committee had tough questions for Shaun Donovan, on the heels of a disappointing report on the mortgage insurer's financial health last month.

Opponents have failed to halt momentum on a bill to extend the Transaction Account Guarantee program, and the Senate is slated to vote on the legislation as early as next week.

"It's clear the Roundtable's new chief executive plans on sticking around; this isn't a pit stop in his political career," writes American Banker's Editor-at-Large Barbara Rehm.

The Senate is preparing to vote soon on a bill to keep TAG alive even as various interests, including large institutions and money-market mutual funds, fight to shut the program down.

Capitol Bancorp had to postpone a bankruptcy hearing because, it says, the Federal Deposit Insurance Corp. repeatedly blocked it from paying the due-diligence costs of its new investors.

Next week, the Federal Deposit Insurance Corp. will focus on cross-border issues and the 2013 budget in two separate meetings.

HSBC (HBC) may be about to pay $1.8 billion to settle charges the bank served as a gateway for money laundering.

Financial institutions should, among other things, implement an information governance program, perform periodic privacy audits and learn how data is managed in the cloud.

Sen. Jim DeMint, R-S.C., announced Thursday he would leave the Senate to head up The Heritage Foundation, a conservative think tank.

In an industry where everyone seems to have an opinion, these financial services veterans have learned to leverage Facebook, Twitter, LinkedIn and other social media to their advantage.