Regulation

The Massachusetts Democrat said housing advocates' fight against a key reform of Dodd-Frank would hurt the low-income borrowers they are trying to help.

Dodd-Frank failed to cure key structural shortcomings of mortgage servicing that are still harming consumers, says Raj Date, the interim leader of the Consumer Financial Protection Bureau.

At a community banking panel at this year's American Banker Regulatory Symposium, the consensus held that regulation can't be a one-size-fits-all practice.

Since its inception, banking in America has been subject to regulation and supervision. For the most part, this relationship is symbiotic. At its best, regulation and supervision help prevent bad actors from undermining the reputation of the industry and hurting consumers; elevate good practices; and instill public confidence in the system.

Executives tell symposium audience that Basel committee's surcharge on systemically important firms will impede economic growth.

The Federal Reserve is holding public hearings in three cities across the country to review Capital One's proposed purchase of ING Direct. The hearings to be held in San Francisco are half a continent away from the nearest branches of what may become America's fifth largest bank. Without branches, the bank's responsibility to California cities and counties is not clear under regulators' current interpretation of the federal Community Reinvestment Act.

Robert G. Wilmers, the head of M&T Bank, came to the nation's capital Monday with an unfavorable assessment of whether the Dodd-Frank Act will do what lawmakers intended.

The Labor Department is delaying a rule designed to make investment advisors more accountable for the advice they give to employers and individuals in retirement plans, Assistant Secretary of Labor Phyllis Borzi said in a conference call Monday.

Sen. Jack Reed, D-R.I., said Republicans were deliberately trying to prevent credible nominees from being confirmed to regulatory posts, and their legislative attempts to reform the new Consumer Financial Protection Bureau seem like moves meant to impede the bureau's progress.

OCC head tells American Banker regulatory symposium that banks could face restitution after complaint reviews. Gruenberg, meanwhile, announces FDIC community-bank initiatives.