Law and regulation

The Federal Deposit Insurance Corp. has named Kristie K. Elmquist its Dallas regional director.

The CFPB's Office of Servicemember Affairs is reaching out to the banking and mortgage industries, as well as to members of the military and their families, to help raise awareness about financial challenges — from foreclosures to payday loans — and products that work for them.

As much as I would like to offer tidings of comfort and joy, I fear that 2012 is shaping up to be the year of extreme risks. These risks may not materialize into live problems, but it is best that bankers be prepared, particularly since at least some of the rotten plums are already baked into the Christmas pudding.

Banks won't be happy that a company not subject to federal supervision is filling a void that they, as regulated institutions, were forced to leave.

Former radio DJ Steve Streit has shepherded prepaid marketer Green Dot from its early days to its hard-won Fed blessing to buy a bank.

The agreement temporarily settles a partisan fight over funding for the two agencies responsible for implementing Dodd-Frank rules on derivatives.

A merchant industry group sings its own praises on debit interchange rules … and threatens new fights.

Lots of bankers have lost their focus on customers, lending and costs. Instead they tune in on distractions, such as politics and regulatory policy. I don't think that's good, but let's use it to shape a strategy that gets results.

Official Washington turned out in force last week to fete Neil Milner's retirement after 15 years heading the Conference of State Bank Supervisors.

Richard Syron, the former chief executive officer of Freddie Mac, and Daniel Mudd, ex-CEO of Fannie Mae, were sued by the U.S. Securities and Exchange Commission over disclosures they made about subprime loans.

Legislation in the Senate could be key for small banks to deregister from the SEC.

A lawsuit brought by a group of retail associations and retailers against the Board of Governors of the Federal Reserve System asks the courts to find the board's rules to implement the debit card swipe fee requirements of the Durbin amendment to be "arbitrary, capricious and an abuse of discretion."

Banks have been much maligned for nickel-and-diming their customers, but in another area — cardholder fraud protections — they are being praised as consumer champions.

The Consumer Financial Protection Bureau will begin taking tips from whistleblowers about violations of federal consumer financial laws.

With even President Obama weighing in on the need to approve Richard Cordray as Consumer Financial Protection Bureau head, the Democrats see a chance to paint their obstructionist rivals at anti-consumer.

Under proposals by Rep. Scott Garrett and Sen. Bob Corker, the Federal Housing Finance Agency would once again see its role transformed.

The bank's announcement that it will adopt an easy-to-read disclosure form for checking account fees draws applause from Senate Democrats.

JPMorgan Chase & Co. has simplified the disclosure forms for its checking accounts, becoming the first large back to adopt model disclosures proposed by the Pew Charitable Trusts.

WASHINGTON – Key congressional backers of a 2009 law that strengthened consumer protections for credit card users are now concerned that the Federal Reserve Board has gone too far with regulations that could restrict credit to stay-at-home mothers.

Why did PricewaterhouseCoopers allow MF Global financial statements to be issued with a clean audit opinion? Why wasn't there a "going concern" warning?