Law and regulation

In almost any other election cycle, bankers would be celebrating the fact that a Republican candidate has emerged so far in front of the pack and would quickly fall in line behind him. But this has been anything but a normal election cycle, and there are a whole host of reasons that bankers will be at least as reluctant to embrace the outspoken businessman Donald Trump as the Republican establishment has been.

The Financial Crimes Enforcement Network's revocation of orders finding certain foreign banks to pose substantial money laundering risk shows the agency is trying to evade scrutiny as it pushes the banks out of business, according to observers.

Bankers are still grappling with vendor software problems, longer processing times and delays in mortgage closings as a result of new disclosures that went into effect four months ago, according to a new survey by the American Bankers Association.

WASHINGTON — The House Financial Services Committee will hold a vote Wednesday on a bill that would provide regulatory relief for financial institutions that are not considered systemically important.

The Clearing House has picked Federal Reserve economists William R. Nelson and Francisco Covas to lead its research arm.

The mortgage servicer said it has received letters from the Securities and Exchange Commission regarding separate probes into its collection practices and fees.

Sunstate Bank in Miami has been released from an enforcement action that had required it to strengthen its anti-money-laundering controls.

Estimates of nonbank mortgage providers that will close or change hands should worry consumers and policymakers about access to credit.

Barclays identified potential money laundering linked to currency transactions at its business in South Africa, where the British lender plans to wind down its investment.

A Malvern Bancorp director has resigned following a disagreement over one of the Paoli, Pa., company's clients.

WASHINGTON — A bank regulatory relief plan put forward by Federal Deposit Insurance Corp. Vice Chairman Thomas Hoenig is getting support in the House.

First Federal Bank of Kansas City has agreed to a $2.8 million settlement with the Department of Housing and Urban Development to resolve allegations of redlining in African-American neighborhoods.

Twelve states hold their primaries on March 1, and the outcome could determine once and for all who the 2016 presidential nominees are for Republicans and Democrats. But there are also state primaries that could have a big impact on the general election this year. Here are four things for bankers to watch out for:

There are good, bad and ugly stories about how marijuana entrepreneurs deal with taxes and other financial management issues while having little access to banking services.

Western Union has promoted Jacqueline Molnar to chief compliance officer.

Many of the presidential candidates have backed steps to lighten community banks' burden, but we don't need to count on grandiose stump speeches and campaign pledges to make a difference.

Love him or hate him, Trump provokes strong reactions from much of the electorate, bankers included. His volatile temperament and penchant for showmanship have left many skeptical, but some see his business experience and dealmaking savvy as a positive.

The bank's approval last year to buy OneWest Bank included a condition to submit an updated Community Reinvestment Act plan, but the CRA program now being presented by CIT is far from adequate.

The former chief executive of a Georgia community bank that participated in the Troubled Asset Relief Program was sentenced to prison and fined $3.9 million for hiding the bank's past-due loans and committing other fraud.

Regulators’ focus on having banks and credit unions offer payday loan alternatives to underserved consumers overlooks the success of Web-based companies in filling credit gaps.