Top Five Stories in Regulation and Reform

February 25, 2013 2:08 PM

Banks and their regulators are bracing for harsh, across-the-board federal budget cuts set to go into effect on March 1. Will it hurt banks? Yes, and here's how: How the Budget Sequester Could Hurt Banks

(Image: Bloomberg News)

A regulatory plan that changes how banks must account for holdings on their books is stirring anxiety in the financial services industry that it may force banks to make a premature decision about what they intend to do with an asset.

Rep. Maxine Waters is drawing inspiration from former Rep. Barney Frank as she succeeds him as Democratic banking leader. Frank has "led us to understand that which we have to fight for," she says in our exclusive interview, while also detailing her agenda for this year.

MORE FROM AMERICAN BANKER

Consumer banking

20 banks and thrifts with the most assets

The top five banks and thrifts have combined total assets of nearly $13 trillion.

Just now
Investment banking

Truist gets an earnings boost from its investment banking unit

After several quarters of slumping investment banking and trading fees, the Charlotte, North Carolina-based company reported a big uptick from that division, which helped compensate for a large decline in net interest income.

By Allissa Kline

9h ago
Regulation and compliance

Security, trading, supervision among open issues at Fed, audit finds

The Federal Reserve's Office of the Inspector General says the Fed has yet to fulfill 65 recommendations, and also identified 18 outstanding issues at the Consumer Financial Protection Bureau.

By Kyle Campbell

April 22
Payments

JPMorgan Chase's plan for face and palm payments

The bank will use biometric authentication to streamline checkout in stores starting in 2025. It has already completed internal and external pilots of the technology.

By Robin Arnfield

April 22
Elder fraud

Strangers, family defrauding seniors at an alarming rate: Fincen

Banks reported nearly $27 billion had been tied up in scams or theft against elderly people in a recent 12-month period, according to a report from the U.S. Treasury.

By Carter Pape

April 22
TBTF

FDIC says it can resolve GSIBs. For the market, seeing is believing.

The Federal Deposit Insurance Corp. says it's ready to wind down the global systemically important banks. But until that happens, many in the banking industry are skeptical that regulators have actually developed a workable strategy to end "too big to fail."

By Ebrima Santos Sanneh

April 22