Law and regulation

Treasury Secretary Jack Lew warned Wednesday that over using economic sanctions could saturate their potency, driving commerce away from the U.S. and threatening the U.S. dollar's status as the world’s reserve currency.

WASHINGTON — Congress should consider streamlining the financial regulatory structure and give the Financial Stability Oversight Council broader authority to respond to systemic risks, according to a Government Accountability Office report published this week.

A former staff attorney with New York's city government has been named the top lawyer for the New York State Department of Financial Services.

The Coalition for Safe Loan Alternatives intends to become a peer-to-peer forum for best practices among the alternatives to payday loans. The group will not advocate for policy changes. Rather, it aims to offer a platform for local organizations to share information and compare ways to offer low-cost access to credit.

If the general election comes down to Hillary Clinton against Donald Trump, many community bankers are uncertain whom they will back. They fear Clinton will continue the regulatory crackdown against the industry, but are unsure what plans Trump would put in motion.

WASHINGTON — After being forced by a court to withdraw its enforcement action against Tanzanian bank FBME, the Treasury Department's Financial Crimes Enforcement Network has once again finalized a rule requiring U.S. institutions to cut off ties with the bank.

Those criticizing the Consumer Financial Protection Bureau's governing structure object to the idea of a regulatory agency successfully protecting consumers and the public interest.

The ambiguity over whether regulators favor risk sensitivity or simplicity in setting capital requirements does not help risk management efforts.

As online business lenders grow in number, size and prominence, a new trade group is being launched to represent their interests in Washington.

Freedom Bank in Columbia Falls, Mont., has been released from a consent order that the FDIC and the Montana Division of Banking and Financial Institutions had implemented in December 2009.

Bank of America, Barclays and a dozen more banks must face investor claims that they rigged a benchmark used in the sales of interest-rate derivatives and other financial instruments.

Some of today's credit products and practices risk leaving consumers trapped in a cycle of debt.

San Francisco Fed President John Williams discusses the potential for new fintech products to make predatory lending easier, whether big banks need to be broken up, and the likelihood of another recession.

Restrictions on bank ownership act as a de facto poison pill, discouraging potential activist investors from challenging underperforming bank managers. Ease those restrictions and the market will do its job.

WASHINGTON – Four Democratic senators sent a letter on Thursday to federal financial regulators asking for clear guidance on how banks can serve the marijuana industry.

Nandita Bakhshi and Ellen Alemany discuss strategy; Beth Mooney strikes a deal; a Lehman Sister recounts her experience as a woman at the top of Wall Street in its doomsday; and HSBC sets a goal to have equal gender representation in certain areas by 2020. Plus, some interesting research on equal pay for women, and good grief, Raymond Moore.

American Banker readers share their views on the most pressing banking topics of the week. Comments are excerpted from reader response sections of AmericanBanker.com articles and our social media platforms.

Five policy heavy-hitters issued a proposal this week to merge Fannie Mae and Freddie Mac into a single government corporation as a way to move beyond the conservatorships of the two government-sponsored enterprises.

Experts see the British bank's decision to downsize its African stake as another example of money-laundering concerns and other risks prompting institutions to get out of emerging markets.

Two senior GOP lawmakers are warning regulators against preferential treatment for housing advocates and nonprofits in sales of nonperforming, government-guaranteed mortgages.