Regulation

The Federal Reserve on Thursday announced a prompt corrective action against Anchor Commercial Bank in Juno Beach, Fla., after the bank failed to provide the Fed with an acceptable capital restoration plan.

Independent ATM operators and a trade association have filed a new suit charging that Visa Inc. and MasterCard Worldwide network rules unlawfully prohibit ATM operators from offering lower prices for transactions over PIN-debit networks that are not affiliated with the two companies.

"Face It, Bankers: You're Not Apple" by Andy Sobel [BankThink, Oct. 11, p. 21] contends banking shouldn't focus on innovation and instead should act like the utility sector. It conjures a Prius-driving straw man who only wants his bank to deliver cash from the ATM – "a human right," as utilities deliver water from the faucet.

With millions of American homeowners living under a Sword of Damocles otherwise known as foreclosure, expect to see more protestors turning out to block evictions and sheriff’s sales.

In the 2008 elections, the largest U.S. banks gave far more money to Barack Obama than John McCain, and more generally, favored Democratic candidates over Republicans.But after passage of the Dodd-Frank Act, the same banks are favoring Mitt Romney over President Obama. And they've tilted their contributions more toward Republican candidates.This slideshow looks at changes in campaign-finance trends at the largest banks over the last four years.

HUD is seeking comments on a proposed rule that would allow Farm Credit System lenders the ability to make FHA-backed loans. Since Farm Credit is already a GSE, bankers oppose the proposed rule.

Zombie mortgages, or home loans that are worth more than the underlying collateral of the house, are impeding a recovery in home sales and in the broader economy, according to Barclays Capital chief economist Dean Maki.

Congress should require the Federal Home Loan Banks to pay for an explicit government guarantee on their debt, according to a former GSE regulator and congressman.

President Obama, who has criticized Bank of America specifically and big banks in general, is scheduled to accept his party's nomination in the institution's home town.

In a letter to Attorney General Eric Holder, lawmakers suggest banks have colluded in announcing their fee increases after implementation of the interchange cap.