Regulation

Rep. Scott Garrett and Sen. David Vitter have introduced bills that would that "would repeal the government's authority to designate non-bank financial institutions as systemically important," writes American Banker’s Kevin Wack.

Illinois state regulators closed $88.9 million-asset Waukegan Savings Bank, the fortieth failure of the year nationwide and the sixth in the state.

A fund for penalties collected by the CFPB has its first $25 million, and lots of people are waiting to see how it will be spent.

The chairman of the House Financial Services Committee is urging federal banking regulators to extend the comment deadline on Basel III capital reforms for another 90 days to give bankers more time to digest the rules and better assess their impact.

Simply stated, merchants have agreed the Visa/MasterCard interchange fee settlement resolves all past disputes and establishes a system that will govern payments in the future. Nothing remains for Congress, or anyone else, to address.

Bankers have called Elizabeth Warren a host of names, mostly in private, but Sarah Palin went a step further when speaking on Fox News.

Hungary’s antitrust regulator confirmed that it’s investigating alleged abuses by MasterCard Inc. over the company’s dominant position on the interbank market.

Rolling Stone's Matt Taibbi took another swing this week at Andrew Ross Sorkin, the CNBC anchor, for not pushing Sandy Weill on his change of heart regarding breaking up big banks.

Even Aaron Sorkin's new hit HBO show "The Newsroom" wants to weigh in on the merits of the Depression-era law, which separated commercial banking from investment banking.

Camden Fine, president of the Independent Community Bankers of America, said the sight of the 1,099-page proposal from the CFPB on simplified mortgage disclosures made him “physically ill,” according to Bloomberg.