Law and regulation

Insurance companies will urge U.S. lawmakers today to stop the Federal Reserve from imposing bank-like capital standards on their industry.

The Consumer Financial Protection Bureau is planning to eliminate its current employee performance management system after data showed minorities were rated lower than white employees.

In his annual shareholder address, the longtime CEO explained how M&T is working to fix its BSA compliance issues, took a swipe at megabanks and sang the praises of the bank's hometown.

Keith Pedigo, who led efforts to modernize the Department of Veterans Affairs home loan guarantee program, has joined Collingwood Group, founded by a former FHA Commissioner.

The Office of the Comptroller of the Currency has joined other regulators in seeking to simplify megabanks' myriad legal entities. But instead of being focused on helping a bank to unwind in a failure, the OCC argues simplification can greatly help operational efficiency.

The discovery of racial disparities at the Consumer Financial Protection Bureau gives real cause for concern, but it also presents an opportunity for the whole financial services sector to have a broad, healthy dialogue about diversity.

Fannie Mae and Freddie Mac could return $179.2 billion in profits to taxpayers over the next 10 years if they continue operating under federal conservatorship, according to White House budget analysts.

The housing sector is increasingly a drag on consumption and job creation. The fault lies not with the market but with ill-considered regulations and bank capital rules.

The settlement of the Visa and MasterCard class action interchange swipe fee case has spawned a new type of company—the third-party claims filing company.

IMGCAP(1)]

It is still unresolved how regulators will apply capital requirements to insurance companies under the Dodd-Frank regime for systemic firms, but members of Congress are urging the Federal Reserve Board to be flexible.

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

A former employee of TD Bank and her accomplice have pleaded guilty to committing identity theft and stealing government funds.

Fast-tracking foreclosures on vacant properties in states that handle foreclosures through the courts "could result in substantial cost savings" for all involved, according to a study by Federal Reserve Bank of Cleveland.

Former Federal Reserve Vice Chairman Alan Blinder took shots at credit rating agencies and Wall Street traders this week in a public lecture at the Museum of American Finance.

The Community Home Lenders Association is pointing to President Obama's recently released budget as proof that the Federal Housing Administration has leeway to lower premiums.

House Financial Services Committee Chairman Jeb Hensarling and two other GOP lawmakers are probing the Consumer Financial Protection Bureau over how it treats its employees.

Former Federal Reserve Board Chairman Ben Bernanke reportedly made more in his first post-Fed speech than he did in his entire last year running the central bank.

Banks have stepped up efforts to extend the government's terrorism risk insurance program, fearing that Congress may fail to act before it is scheduled to expire at yearend.

Scott Tomlinson at Flint Community Bank used a meeting with the agency's deputy director to speak his mind on the shortcomings of mortgage regulation.