Regulation

U.S. banks should take notice of the latest developments with the Foreign Account Tax Compliance Act, a tax-evasion law aimed primarily at foreign banks.

For the moment, the job of ensuring that the nation's largest banks comply with the terms of last week's mammoth mortgage settlement falls on just one man: Joseph A. Smith, Jr., North Carolina's banking commissioner.

Colony Bankcorp Inc. in Fitzgerald, Ga., will suspend paying a dividend on preferred stock that the Treasury Department holds and interest payments on some junior debt.

President Obama's January 4th recess appointment of Richard Cordray as head of the director of the Consumer Financial Protection Bureau has threatened to set-off a contentious legal challenge in an already polarized Congress.

A coalition of bank and credit-union lobbyists joined the ATM industry in requesting legislation to stop lawsuits alleging violation of the Electronic Funds Transfer Act.

A plan by regulators to reduce banks' reliance on credit ratings may ultimately overstate capital requirements, improperly account for risk sensitivity and put U.S. firms at a competitive disadvantage, according to the largest banks and their representatives.

There is no such thing as a "Consumer Financial Protection Bureau." That’s a false label. Rather, there is a Bureau of Consumer Financial Protection ("BCFP," if you like), established by Title X of the "Dodd-Frank Act."

The Office of the Comptroller of the Currency closed two Midwestern banks Friday, bringing the failure tally so far this year to nine. The Federal Deposit Insurance Corp., as the receiver of the failed national banks, was able to find other institutions to resolve the failures.

The chairman of the House Financial Services Committee is under investigation by the Office of Congressional Ethics — news that comes at an uncomfortable time, since Bachus is currently in the midst of a re-election fight.

The $25 billion multistate mortgage settlement requires banks to conduct an extensive review of foreclosures against military borrowers, and could cost millions more in compensation.