Regulation

The Treasury Department Tuesday cited a Belarus-based bank as potentially having links to money laundering, and proposed barring U.S. banks from opening or maintaining accounts with the institution.

JPMorgan Chase's "London Whale" episode highlights just how much risk is shared by U.S. and U.K. regulators.

Two House Democrats — Reps. Elijah Cummings and Peter Welch — called Tuesday for JPMorgan Chase & Co. (JPM) chief executive James Dimon, along with two figures who played a role in the bank's recent multi-billion-dollar trading losses, to testify before Congress.

Lots of ink has been spilled over the loss of at least $2 billion in JPMorgan Chase's Chief Investment Office in London. And nothing, so far, has been learned.

The announcement is surprising as it follows so soon after hefty penalties were assessed against many other banks for their overdraft programs.

James Freis was dismissed from his position as director of the Financial Crimes Enforcement Network last week after refusing to step down, a person familiar with the situation confirmed Monday.

In a legal filing, the OCC made its argument that regulators acted appropriately when they closed the Denver thrift in early 2010.

Senate testimony by CFTC Chairman Gary Gensler is expected to shed light on the split between regulators over the Volcker Rule.

The facts in the JPMorgan Chase (JPM) "London Whale" case are still being sorted out, but that hasn't stopped analysts — myself included — from pondering its policy impact. Much of what the bank's CEO, Jamie Dimon, calls punditry has focused on whether the $2 billion-plus loss proves points on the Volcker Rule, TBTF, CEO compensation and, perhaps, nicknames.

The FDIC has been in talks with the Bank of England since before Dodd-Frank about coordinating resolution regimes. But the 'London Whale' episode further highlights just how much risk is shared by the two transatlantic partners.