Law and regulation

A major cybersecurity bill passed a key Senate test on Thursday after a series of setbacks earlier this year.

Two senior Democrats are urging congressional leaders to block financial policy riders from a yearend budget deal, including Sen. Richard Shelby's sweeping regulatory reform package.

Mortgage servicer Ocwen Financial failed four servicing tests in the second half of 2014. Joseph A. Smith Jr., the monitor of the $25 billion national mortgage settlement, said the Atlanta servicer was “beginning to show progress” in complying with terms of the 2012 agreement.

Industry representatives are howling about the lack of consumer benefit from the Durbin amendment, but we still know very little about the impact of the debit fee cap.

Furthering efforts to bring virtual currency mainstream, cryptocurrency companies and trade groups are teaming up to create a forum to aid law enforcement in weeding out criminal activity.

Federal banking regulators gave ground in a final rule to raise collateral requirements for uncleared swaps, providing special consideration for swaps traded between affiliates of the same firm.

The Federal Deposit Insurance Corp. is set to vote Thursday morning on a proposal that would force big banks to bear the assessment burden of growing the agency's federal reserves to a new minimum.

The industry will undoubtedly get bad press in an election cycle, but here is what institutions should do and not do about it.

"We are reaching that point in the cycle where credit risk is moving to the forefront" of regulatory concerns, Comptroller Thomas Curry warned Wednesday.

WASHINGTON – After several false starts this year, the Senate is gearing up for a vote on a major cybersecurity bill backed by the banking industry.

Democratic presidential candidate Sen. Bernie Sanders is backing a plan to allow the U.S. Postal Service to provide banking services.

More than a third of House lawmakers expressed concern Tuesday with a controversial plan to help fund a major transportation bill by slashing dividends from the Federal Reserve.

Private mortgage insurers are seeking a larger share of the credit risk on Fannie Mae and Freddie Mac-guaranteed loans.

While migration to cards with chip technology should help mitigate card fraud, additional steps by retailers and more layers of security are needed.

Credit Agricole agreed to pay $787 million to U.S. regulators and enter into a deferred prosecution agreement with the Justice Department to resolve allegations the French bank violated sanctions aimed at Iran and Sudan.

Bank of New York Mellon won final approval of a $180 million settlement with investors who claimed they lost money amid allegations the bank had defrauded clients in foreign-exchange transactions for as long as a decade.

Housing finance reform in Congress is stalled, but Fannie Mae and Freddie Mac (often under pressure from their regulator) are forming partnerships, developing new products and finding ways to share risk with the private sector to correct flaws in the housing system.

A federal appeals court has dealt the retail sector a setback in the ongoing fight over surcharges on credit card purchases.

Presidential candidates shouldn’t rely on crowd-pleasing gimmicks or trick plays to reform the banking system, but the execution of the basics. This means focusing on the time-tested risk-return tradeoff and restructuring our existing deposit insurance system to be truly risk based.

David H. Stevens, the Mortgage Bankers Association's president, pledged to "shine an aggressive spotlight on abusive enforcement" at the trade group's annual gathering, specifically calling out the Department of Justice.