Regulation

A growing number of regulators have indicated their support for raising the asset thresholds at which banks face new regulatory requirements. That's welcome news — but time is of the essence in implementing any changes.

Rep. Nydia Velazquez, D-N.Y., ranking member of the House Small Business Committee, introduced a bill Tuesday that would allow the Small Business Administration to provide backing for more loans.

Citibank has joined a growing list of banks and vendors that have paid a stiff penalty for allegedly using deceptive marketing and billing tactics in selling credit card add-on products. It agreed to pay $770 million in fines and restitution charges, falling just short of a record fine issued last year.

Citibank has joined a growing list of banks and vendors that have paid a stiff penalty for allegedly using deceptive marketing and billing tactics in selling credit card add-on products. It agreed to pay $770 million in fines and restitution charges, falling just short of a record fine issued last year.

Key proponents and critics of the 2010 financial reform law commemorated its anniversary by keeping the debate over its legacy front and center.

Rolling back unnecessarily burdensome and costly regulations is the only way to ensure credit unions’ survival. To that end, lawmakers should pass a bill that would give credit unions relief from annual privacy notice requirements and grant safe harbor qualified-mortgage status for certain loans held in their portfolios.

The new regulations are meant to close loopholes in an interest rate cap that applies to active-duty soldiers and sailors. But financial institutions won at least one important concession.

Porter Bancorp in Louisville, Ky., has agreed to pay $1.1 million to settle a lawsuit alleging mismanagement of a former client's employee stock ownership plan.

The Federal Reserve Board issued an enforcement action against one of the biggest banks in China on Tuesday, ordering its New York branch to undergo broad restructuring of its anti-money-laundering compliance program.

Citigroup is facing $770 million in charges after two federal regulators said the megabank engaged in deceptive marketing and unfair billing practices related to its credit card add-on products.