Law and regulation

Massachusetts' Senator-elect may be public enemy No. 1 among bankers, but Citizens Republic CEO offers this reassurance: "She's but one vote."

U.S. financial institutions will not be required to start complying with Basel III capital and liquidity requirements by Jan. 1, according to a joint statement issued by regulators on Friday.

Now that the uncertainty of the elections is out of the way, we may see certain Dodd-Frank rules finalized by regulators soon. And opponents of the law see one upside: if Democrats are less on guard defending the law, they could be more pragmatic about adjustments.

The Financial Stability Oversight Council will meet Nov. 13 to consider reform to money market mutual funds, the Treasury Department said Thursday.

Critics claim a Dodd-Frank rule to bar banks from relying on ratings agencies to assess the value of their investments will increase compliance costs, spur concentration and even shrink investment income.

Anchor BanCorp Wisconsin in Madison managed to push capital ratios at its thrift a bit closer to well-capitalized status during the third quarter, despite posting another loss.

In update of the FDIC's community bank initiatives, officials reveal a Web-based feature designed to ensure examiner data requests are germane to individual exams.

Pan American Bank didn't let President Obama rest the day after his reelection. It urged him in a video Wednesday to make financial literacy and serving the unbanked a priority.

Regulators would prefer that banks maintain higher levels of reserves, while accountants may start pushing more institutions to release reserves as loan problems dissipate.

The Illinois Republican lost her seat to former Rep. Bill Foster on Tuesday night, opening up a chairman spot on the insurance, housing and community opportunity subcommittee.

The rise of the prepaid card is sure to be one of the Durbin Amendment's biggest legacies. It also suggests any savings merchants derive from the law will be short-lived.

The Obama victory moves the financial industry to Plan B, according Dealbook. Wall Street may need to set a new tone in efforts to minimize the impact of Dodd-Frank. Most of the focus from the large banks may center around implementation of the Volcker Rule on proprietary trading.

American Express' directors were sued by a shareholder over practices that led to a $112.5 million settlement of claims that it violated consumer safeguards.

A West Virginia woman is suing Toyota Motor Credit Corp. and collection agency MRS BPO, LLC for repeatedly trying to contact her after she informed them she was being represented by attorneys.

Capital is important, but ample loan-loss reserves, governed by stringent supervision, are a much more direct, responsive way to account for credit risk.

JPMorgan Chase reached a settlement with the SEC to resolve two investigations related to mortgage-backed bonds handled by JPMorgan and Bear Stearns, which the bank acquired in 2008.

Will Elizabeth Warren get a seat on the Senate Banking Committee? Will she thwart efforts to modify the Dodd-Frank Act? Republicans and the financial industry executives are anxious to know.

Enterprise Financial Services (EFSC) in St. Louis, Mo., has repurchased the $35 million of preferred stock it had issued to the Treasury Department under the Troubled Asset Relief Program.

Standard Bancshares in Hickory Hills, Ill., announced on Wednesday that it had entered into a set of definitive agreements with a consortium of private-equity investors for more than $130 million.

The elections on Nov. 6 mostly delivered the status quo, but raised a host of questions about how lawmakers will tackle the fiscal cliff, big bank breakups and housing finance reform.