Regulation

The risk profession continues to aid and abet our tendency to want to quantify everything. But understanding real life is ultimately a social, not physical, science.

Just days after the Senate's top Democrat, Harry Reid, proposed a two-year renewal to the Transaction Account Guarantee program, a leading Republican on the Senate Banking Committee came forward and said he plans to oppose the extension.

Federal Reserve Board Gov. Daniel Tarullo on Wednesday offered an early peek at significant policy changes U.S. regulators are considering for the supervision of large foreign banking organizations.

The effort to extend the Transaction Account Guarantee, which is due to expire at yearend, received a major "boost this week after Senate Majority Leader Harry Reid unveiled a bill to keep it alive for another two years," writes American Banker's Joe Adler.

CardHub.com blasted the Federal Reserve Board after releasing a report evaluating what credit card issuers are required to tell their customers about possible interest rate hikes.

"The Consumer Financial Protection Bureau said Tuesday it will amend its rule establishing new disclosures for international money transfers in a move designed to ease bankers' fears that the regulation is overburdensome," writes American Banker's Rachel Witkowski.

Sen. Bob Corker said Wednesday he plans to oppose extending the Transaction Account Guarantee program, just days after the Senate's top Democrat proposed a two-year renewal.

We now have two different definitions of a "high-cost" mortgage, as well as a "higher priced" mortgage, and a "higher risk" mortgage. Clearly, Congress failed to practice what it preaches.

Senate Majority Leader Harry Reid has sponsored a standalone bill to give the Transaction Account Guarantee program another two year. The extension, which many community bankers view as critical, is still very much in doubt.

U.S. units of foreign lenders including Deutsche Bank AG may be required by regulators to comply with tougher capital rules that some banks sought to skirt, three people with knowledge of the discussions said.