Law and regulation

In her final congressional appearance before she leaves her job at the end of this week, Fincen Director Jennifer Shasky Calvery also advocated for passage of new anti-money-laundering laws being pushed by the Obama administration.

Everyone agrees that electronic transactions should be as safe as possible, but a PIN mandate will not prevent online or mobile fraud.

In guidance on banks' resolution plans, regulators effectively have made important policy decisions about liquidity transformation that were not subject to notice and comment.

WASHINGTON — The House passed a bill by a voice vote Monday that will make it easier for mortgage originators to take a new job across state lines or move from a federally regulated bank to a nonbank lending shop.

The Consumer Financial Protection Bureau is making an end run around existing regulations to collect new data on overdraft programs, the American Bankers Association claims.

WASHINGTON — Seven financial trade groups announced Monday that they are banding together to push legislation that would extend banklike data security standards to retailers and nonbank businesses.

Nonperforming commercial-and-industrial loans are soaring, and loans to farmers and construction firms — not just oil and gas companies — are a big reason.

A federal appeals court in Manhattan reinstated a civil antitrust case accusing 16 banks of hurting investors who bought securities tied to Libor by manipulating the interest-rate benchmark.

Bank of America Corp.'s Countrywide Financial unit was exonerated of allegations that it sold defective residential mortgage loans to Fannie Mae and Freddie Mac with an appeals court throwing out a judgment against the bank of more than $1.2 billion.

Joseph Fellerman, a former special adviser at the Federal Deposit Insurance Corp., was one of the first people at the agency to research systemic resolution. Now, the agency is better prepared to handle the next big crash, he told the American Banker in a sit-down interview.

The nascent industry's early success will mean very little if these new companies don't take necessary steps to position themselves for the long term.

The secondary marketing agency wants to model how servicers' available cash might stand up to shocks because interruptions to that liquidity have been a common problem among those that failed.

WASHINGTON – The Federal Deposit Insurance Corp. has extended the comment period on a plan that would require large banks to keep better track of their insured deposits, while making clear it will not extend it to community banks.

An industry-led committee — convened under the auspices of U.S. and international regulators — has narrowed its scope of potential replacements to the widely referenced and ignoble interbank offered rates to two, but there's still a long way to go before an heir is crowned.

Presumptive Democratic nominee Hillary Clinton appears likely to embrace a recent plan to merge Fannie Mae and Freddie Mac into a single government corporation if she wins the White House.

Banks and nonbanks should accept that more fintech regulation is inevitable, but how far regulators go will depend in part on how well companies demonstrate they are managing risk.

As the Federal Deposit Insurance Corp. grapples with a series of newly revealed cybersecurity incidents, the U.S. government is prosecuting a former agency employee over a 2012 breach.

Banco del Austro said in a lawsuit filed in New York against Wells Fargo that hackers got access to the codes the bank uses to move money via Swift, the global interbank network, and used them to transfer funds from the U.S. bank.

In his first public remarks this year, Federal Reserve Gov. Daniel Tarullo offered a preview of the enhanced capital and liquidity requirements that certain insurers will soon face.

Regulators have abused their role of implementing law to actually make financial policy, usurping the role of Congress in a tripartite system.