Law and regulation

A new push by President Obama to tighten cybersecurity at banks and other businesses could help light a fire under some firms that have historically been slower to react in the wake of a data breach and help financial institutions dealing with a tangle of confusing state laws.

The National Credit Union Administration is due Thursday to unveil a second version of its risk-based capital rule after pressure from lawmakers and the credit union industry forced it to scrap its first attempt.

The influential Treasury Undersecretary David S. Cohen will take over as Deputy Director of the nation's top spy agency after years of managing U.S. sanctions and effort to counter illicit financial networks

The Federal Deposit Insurance Corp. is attempting to clarify its policy regarding brokered deposits after a persistent flood of inquiries from bank and others about what meets the definition.

A recap of the informed opinions (and the discussions they generated) on BankThink this week.

Government investigations of auto lending are beginning to pile up, and they are weighing on investors' perceptions of the fast-growing industry.

A San Diego-based debt collector has agreed to pay $675,000 in civil penalties and give up $18 million won in court fights against 4,500 consumers, New York Attorney General Eric Schneiderman said Friday.

The European Commission last month drafted another version of its proposed revision of the Payment Services Directive, known as PSD2 in Europe, with a goal of enacting a wider regulation of payments and interchange fees that reflects modern technology, security threats and stakeholders in payments.

OneWest Chief Executive Officer Joseph Otting sent an e-mail to his contacts on Wall Street this week asking for help to discourage bank overseers from holding public hearings on its $3.4 billion takeover by CIT Group.

Gov. Scott Walker of Wisconsin addressed speculation about a possible presidential bid during a speech to the Wisconsin Bankers Association.

The Senate approved legislation Thursday to reauthorize the Terrorism Risk Insurance Act, sending it to President Obama's desk after a months-long battle.

Revolving consumer credit in the U.S. fell in November by the largest amount in a year, according to a report Thursday from the Federal Reserve Board.

Housing and Urban Development Secretary Julian Castro moved swiftly on Thursday to defend pending cuts to the Federal Housing Administration's premiums, rebutting GOP arguments they are premature.

Allan Landon, the White House's pick to fill a vacancy on the Federal Reserve Board, likely faces some challenges ahead during the nomination process, including skepticism over whether he's really a community banker and about a particular transaction a decade ago.

Sen. Richard Shelby, R-Ala., was formally named Banking Committee chairman Thursday, returning to the post he held in the last GOP-controlled Senate.

After National Credit Union Administration Chairman Debbie Matz revealed the agency is mulling new encryption standards, a trade association says the regulator should focus on its own steps to "better protect" member "data in its care."

House lawmakers defeated a package of financial services bills on Wednesday, including a measure to again push back part of the Volcker Rule, but approved a bill to reauthorize the Terrorism Risk Insurance Act.

President Obama is expected to announce a half-percentage-point reduction in the Federal Housing Administration's annual premium during a housing policy speech Thursday in Phoenix.

WASHINGTON — Two officials at the Consumer Financial Protection Bureau have been named into key roles, the agency confirmed Tuesday.

The White House announced Tuesday that it will nominate academic and former community banker Allan Landon to one of the two vacancies on the Federal Reserve Board.