Law and regulation

House leaders are pushing to bring a bill on capital standards for non-banks to a vote on the floor this week, part of a larger package of reforms to the Dodd-Frank Act, according to several industry sources.

It's not clear there's time left in the legislative calendar for President Obama to fill the final two slots on the Federal Reserve Board this year, raising questions about what happens to those seats after the elections.

WASHINGTON — The Consumer Financial Protection Bureau has finalized a rule subjecting large nonbank international money transmitters to supervision by the bureau.

Just two days after Apple unveiled its new program designed to speed the adoption and use of mobile payments, Consumer Financial Protection Bureau Director Richard Cordray cited the burgeoning field as a key area of concern.

The Treasury Department is monitoring Wall Street efforts to escape U.S. swap-trading restrictions for overseas derivatives, according to a department official.

A top advisor to Treasury Secretary Jack Lew says real estate investment trusts "appear to be aligned" with the Federal Home Loan Banks' mission. The Federal Housing Finance Agency wants to boot REITs from the FHLB system.

Two days after Apple unveiled its attempt to advance mobile payments, CFPB Director Richard Cordray cited the burgeoning field as a key area of concern his agency needs to examine.

The American Association of Bank Directors recently hired policy veteran Rich Whiting as executive director, and he immediately helped weigh in on some new OCC standards that concerned the trade group.

The head of the Independent Community Bankers of America says the government has gone too far demanding banks act like law enforcement.

The Consumer Bankers Association frequently tangles with the Consumer Financial Protection Bureau, but its new chief Tim Wennes struck a more conciliatory tone in an interview. Rules that promote transparency and consumer understanding are good, but consumer choice has to be preserved, he said.

National Credit Union Administration board member Rick Metsger said a Federal Housing Finance Agency proposal to restrict Federal Home Loan Bank membership could give banks an unfair advantage over some smaller credit unions.

House Republicans warned Wednesday that bank examiners are going to continue to pursue small institutions as part of a government crackdown on certain merchants such as payday lenders, pawn shops and gun dealers.

Although time is running out for the Senate to take up pending cybersecurity legislation before the end of the year, key lawmakers said they are still hopeful it could be enacted soon in the wake of several prominent breaches.

New regulatory and investor compliance requirements have put a renewed emphasis on quality control measures. But lenders are discovering the additional costs of these efforts are outweighed by the savings from originating fewer defective loans.

The draft released by the top Financial Services Committee Democrat would remove adverse information from credit reports and require consumer data furnishers to retain records.

A federal judge has dismissed an attempt by the New York Bankers Association to block a New York City law requiring an evaluation of community investments made by banks holding the city's deposits.

Real estate investment trusts don't pose the credit risk to the Federal Home Loan Bank System that regulators claim they do, said the CEO of Two Harbors Investment Corp.

Members of the Senate Banking Committee pressed top regulators on a host of issues, including plans to raise capital standards on the biggest banks and potential changes to a new liquidity rule.

The Federal Housing Administration wants lenders to make fewer mistakes when writing mortgages for the government insurance program. The agency also wants to serve more borrowers with low credit scores. Getting both may be tricky.

A lack of formal training programs and insufficient financial and career incentives limit the availability of skilled risk managers.