Law and regulation

Strategies include developing formal agreements with partners defining the anti-money-laundering requirements and responsibilities that are expected of them.

American Banker readers share their views on the most pressing banking topics of the week. Comments are excerpted from reader response sections of AmericanBanker.com articles and our social media platforms.

BB&T Corp. has agreed to pay $83 million to settle a Department of Justice investigation over loans that failed quality control tests but were still insured by the Federal Housing Administration.

Artificial intelligence like IBM's Watson may not make bank compliance officers obsolete, but it could mean far fewer of them will be needed in the future, focused on higher-level tasks.

Community bankers are showing renewed interest in consumer lending but admit they may be losing ground to more tech-savvy players, according to a survey released Thursday.

In a stunning move, the European Union signaled that it will not follow the Basel Committee's recommendations on standardized credit, operational and market risk rules, citing concerns that the direction of the proposals would unduly increase capital requirements and stifle economic growth.

Last week's Senate hearing was bad for Wells Fargo CEO John Stumpf, but Thursday's House appearance was even worse. Lawmakers moved beyond calling for Stumpf to resign, and said Wells Fargo should be broken up and Stumpf should go to jail.

The U.S. Supreme Court will take up a free-speech clash with big stakes for retailers and credit-card companies, agreeing to decide the fate of laws in 10 states that limit how merchants can describe the lower prices they charge for cash transactions.

Mortgages jumped more than 20% to 7.4 million originations in 2015, reversing a more than 30% decrease a year earlier, according to housing finance data released Thursday. The data also showed that nonbanks accounted for fully half of new mortgage originations — the largest proportion in over 20 years.

The Consumer Financial Protection Bureau's proposal not only requires lenders to determine a borrower's ability to repay, but also forces creditors to follow the bureau's approach to making that determination.