Regulation

The Senate Banking Committee approved the nomination of a top Treasury official in charge of stopping terrorism financing and financial crime during an executive session on Thursday.

That is the message from North Carolina's banking commissioner and others who think the odds of preventing the rule are so low, and the amount of preparation needed to comply so great, that bankers should get real.

Foreign banks including HSBC and Deutsche Bank are pushing back against the Federal Reserve's proposals on implementing rules designed to end too-big-to-fail, saying they are burdensome and unfair to the U.S. units of the world's biggest lenders.

Not only are widening credit spreads for both banks and the companies they lend to a red flag, but the financial sector is also feeling a hit from lower energy prices.

A mature governance framework and risk culture that reaches all employees are among the attributes of a high-functioning "risk organization."

Hillary Clinton said she would consult with Sen. Elizabeth Warren, D-Mass., on any choice for Treasury secretary.

Sen. Sherrod Brown is pressing the Federal Communications Commission to limit the number of calls collectors of government-backed debt can make to delinquent borrowers. His appeal comes at a time when banking groups are challenging earlier robo-calling regulations that they say inhibit their ability to collect debt.

CFPB Director Richard Cordray said the agency has limited resources to go after bad actors for deception or fraud and consent orders are the most effective way to shape industry practices.

While this presidential race seems to change by the minute, some bankers are beginning to worry that an increasingly likely Donald Trump nomination could threaten GOP control of the Senate and key industry priorities.

BB&T's last stab at preserving $500 million in foreign tax credits has been denied by the U.S. Supreme Court.