Law and regulation

The banking SuperPAC is eyeing seven candidates — four Republicans and three Democrats — as it decides what two races to support in late September or early October. Following is the short list of who is under consideration.

SunTrust Banks (STI) said Wednesday that the Federal Reserve Board did not object to its revised capital plan.

Industry observers are advising more community banks with trust-preferred securities to raise capital now before Basel III puts them at odds with regulators.

Morrison & Foerster announced Wednesday that it was rehiring Leonard Chanin, a former firm attorney who most recently spent a year and a half heading up the 40 attorneys in the Consumer Financial Protection Bureau's rulemaking operation.

Citigroup CEO Vikram Pandit said supermarket banking, a strategy pursued by his firm in past decades to provide all financial products including insurance, no longer fits the times.

Glenn Hubbard, an economic advisor to Republican presidential nominee Mitt Romney, praised Federal Reserve Board Chairman Ben Bernanke on Wednesday — a break from GOP members that have been widely critical of the central banker.

The SEC rolled out its first whistle-blower award on Tuesday, a $50,000 payment to an anonymous informant who helped bring down a Ponzi scheme. So far, the government has recovered $150,000.

Bank of America has ceased selling all payment protection plans to credit card customers, killing off a business line targeted by regulators.

It's foolhardy to try to read traders' minds to determine if the inventory they are keeping exceeds the demand they expect from clients. There is a better way.

Friends of Traditional Banking, a SuperPAC created by a group of state associations last spring, has narrowed its sights to seven races — and is hoping more community banks will join it as it decides what two candidates it should support.

Royal Bank of Scotland is being probed by the Federal Reserve and Justice Department for potentially violating sanctions against Iran, two people briefed on the talks said.

The Federal Reserve did not object to a revised capital plan from Fifth Third Bancorp (FITB) that included a potential divided increase and repurchase of common stock.

The effects of a loose monetary policy were compounded by housing policy – not just the "affordable" housing goals set for Fannie and Freddie but also CRA quotas imposed on banks.

When bankers heard that Republican presidential nominee Mitt Romney had selected Paul Ryan as his running mate, most likely cheered the news. The Wisconsin congressman is, after all, the Capitol Hill antithesis of Barney Frank. He's the Republicans' standard-bearer for limited government in all its forms and has gone into greater depth than anyone else in his party in laying out a plan for limiting it.

When credit card issuers find their portfolios aren't living up to expectation or within the strategy they set for them, they often put them up for sale. Could debit card issuers do the same?

The SEC announced that it has made its first award in a whistleblower program under Dodd-Frank, a Wall Street Journal blog post reports.

Although Republicans appear open to a bill that would make it easier for borrowers to refinance their mortgages, Democrats are balking at requests that the legislation also include measures to reform Fannie Mae and Freddie Mac, among other things.

Central bank policy rates, overnight unsecured borrowing rates, commercial paper rates, Treasury bills and repo rates all would be open to potential manipulation, just like Libor.

Bank of America has ceased selling all payment protection plans to credit card customers, killing off a business line targeted by regulators.

WASHINGTON — The Federal Deposit Insurance Corp. next Tuesday will release its latest quarterly update on earnings, loan growth and other indicators for the entire banking industry.