Law and regulation

The 14-term congressman was a dominating force as House Banking Committee chairman. But the savings and loan deregulation bearing his name tarnished his legislative record, and ethics allegations created a cloud of suspicion that led to his ouster.

The Consumer Financial Protection Bureau said examiners are on the lookout for borrowers getting the "runaround" when their loans are serviced by a new company.

The hot-button topic of what Fannie Mae and Freddie Mac should charge for loan guarantees is emerging as a key issue in reviving a private-label securitization market.

WASHINGTON — Friends of Traditional Banking, a banking SuperPAC, has narrowed its congressional elections "watch list" for the November midterm races to four tight Senate contests.

The FDIC, OCC and Fed all maintain that it's up to banks, not their regulators, to make decisions about whether to do business with payday lenders.

Standard Chartered agreed to pay $300 million for failing to flag suspicious transactions after promising to do so as part of a 2012 settlement with New York's banking regulator.

Mixed signals from regulators — on everything from electronic checks to Operation Choke Point - only create fear, uncertainty and doubt among those in the business of improving the payment system, writes Glen Fossella.

WASHINGTON — A group of retail trade associations and large retailers wants the Supreme Court to review the Federal Reserve Board's recent cap on debit card swipe fees that merchants say is higher than the fee limit envisioned in the Dodd-Frank Act.

More than a dozen bipartisan lawmakers urged the Federal Reserve to scale back its emergency lending authority in a pending rule required by the Dodd-Frank Act.

The industry is objecting to a recent Consumer Financial Protection Bureau blog post that calls into question the transparency of agreements between colleges and financial institutions that offer student products.

The Financial Services Roundtable is accusing the Consumer Financial Protection Bureau of potentially spreading misinformation through the bureau's consumer complaint database.

"Cold storage" of cryptographic private keys, private theft insurance, and audited full reserves can prevent another Mt. Gox-like debacle, says Jeremy Allaire, the CEO of Bitcoin startup Circle Internet Financial.

If megabank CEOs aren't themselves informed of all the pieces of their companies that have evolved over nearly a half century of financial conglomeration, how can they possibly inform regulators?

PricewaterhouseCoopers LLP was fined $25 million after sanitizing a report to regulators on sanctions and money-laundering controls for Bank of Tokyo-Mitsubishi UFJ Ltd., New York’s top bank regulator said Monday.

Each bank has tended to tackle financial crime on its own — in effect, inventing its own wheel. The result: ballooning costs and redundancies. But compliance is not a competition.

IMGCAP(1)]

Federal regulators are aiming to finalize a rule in early September that would establish the first-ever liquidity requirement for banks, but some in the industry have launched a last-ditch effort to delay it.

WASHINGTON — Regulators provided more instruction Friday to smaller firms required under the Dodd-Frank Act to simulate their own failures.

New York Attorney General Eric Schneiderman has settled with debt collector Forster & Garbus regarding the firm's collection of payday loans.

In ordering large banks to revise their living wills, federal regulators proved that they are taking very seriously their mandate to never again use taxpayer dollars to rescue large banks, writes Mayra Rodríguez Valladares.