Law and regulation

Banks that fail to comply with employment regulations leave themselves open to expensive lawsuits and bruised reputations.

San Antonio Mayor Julian Castro is in line to head the Department of Housing and Urban Development, part of an administration reshuffling that would bring a Democratic up-and-comer to President Barack Obama's cabinet.

Illinois state regulators closed the $66.3 million-asset AztecAmerica Bank in Berwyn on Friday.

A recent oil and gas boom in Texas that has captivated banks' attention is also drawing the eye of regulators as they become concerned how far institutions will go to win loans and hire specialists within the energy industry.

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

The normally even-keeled moderate Sen. Mark Warner warned fellow Democrats voting against a housing finance reform that when Fannie and Freddie need another taxpayer bailout, it will be their fault.

Democratic lawmakers on the Senate Banking Committee sounded off against bipartisan legislation to overhaul the mortgage finance system on Thursday, opposition that likely all but ruins the bill's chances of making it to the chamber floor this year.

Under pressure from the Federal Deposit Insurance Corp. to increase its capital levels, Doral Financial (DRL) is selling its health care lending division to Triumph Bancorp in Dallas.

Any bill that does not return with provisions reinstating affordable housing goals and lowering down payment requirements is still a failure, writes the head of the National Urban League.

The Senate Banking Committee passed major legislation to overhaul the housing finance system on Thursday.

Cal-Bay International is developing a specialized prepaid and loyalty card for licensed marijuana dispensaries.

Today's harsh regulatory environment is sapping community banks of the time, money and staffers they previously dedicated to financial literacy efforts.

The dim prospects for Congress doing anything to overhaul the system dominated by Fannie Mae and Freddie Mac leave a host of big questions about what happens to the mortgage sector going forward.

Massachusetts Attorney General Martha Coakley reiterated calls Wednesday for the Federal Housing Finance Agency to allow Fannie Mae and Freddie Mac to offer principal reductions to distressed borrowers and to participate in nonprofit home buyback programs.

Midwestern community banks are in their best financial condition since early 2009, the Office of the Comptroller of the Currency said in a May 13 report.

Kennebec Savings Bank has a 19th century charter, but it is poised for a complex conversion to deal with modern challenges like activists investors, M&A pressures and even Basel III.

Canada's banking regulator said it will review candidates for senior management positions at financial institutions before they're hired.

Comptroller of the Currency Thomas Curry told a room full of state commissioners Wednesday that regulators need to "step up their game" rather than get caught up in competition between state and federal agencies.

Banks should view the recent influx of regulations on small-dollar credit loans as a chance to develop products that are at once profitable and safe for consumers.

Associated Banc-Corp (ASBC) in Green Bay, Wis., has been hit with a $500,000 fine by regulators for deficiencies in its anti-money laundering compliance procedures.