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A flurry of Capitol Hill hearings reflect a renewed focus on legislation to protect Americans' from credit and debit card cyber-attacks. Washington Bureau Chief Rob Blackwell discusses where legislators and regulators appear to be headed and when new laws are likely to be enacted.
February 7
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Blythe Masters, JPMorgan Chase's commodities head, withdrew from an advisory committee of the U.S. Commodity Futures Trading Commission a day after her appointment was disclosed, according to two people with direct knowledge of the decision.
February 7 -
Bitcoin's earliest adopters used to launch scathing criticism at the U.S. for being the first to regulate digital currency in 2012, but their ire seems to have cooled off.
February 7 -
The Consumer Financial Protection Bureau is weighing whether to vastly increase the data collected under the Home Mortgage Disclosure Act in an effort to better monitor trends and abuses in the market.
February 7 -
Blythe Masters, head of JPMorgan Chase & Co. (JPM)'s commodities division, is joining an advisory committee of the U.S. Commodity Futures Trading Commission, said Steve Adamske, a spokesman for the regulator.
February 6 -
The New York regulator questioned Ocwen's ability to handle more volume after an independent monitor reviewed the mortgage servicer's operations, a person familiar with the situation says.
February 6 -
It was a disappointing finish Wednesday for Consumer Financial Protection Bureau Director Richard Cordray, who appeared for the second time on the popular game show "Jeopardy!"
February 6 -
Regulators will soon finalize their plan to establish a new leverage ratio and it is likely to be tougher than a recently implemented global standard, top officials said Thursday.
February 6 -
Money market funds possess trillions of dollars of short-term institutional investor funds. Now the SECs proposed rule change for the industry may give banks an opportunity to attract institutional depositors with cash management offerings.
February 6
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Fannie Mae and Freddie Mac are not properly using a web portal developed to collect and screen appraisal information in order to minimize losses, according to an audit released Thursday.
February 6 -
A Connecticut man has been sentenced to 18 months in federal prison for his role in a mortgage fraud scheme that cost financial institutions millions of dollars.
February 6 -
During a House Financial Services Committee hearing featuring top regulatory officials, lawmakers repeatedly returned to the question of whether the five agencies involved in writing the Volcker Rule can enforce it consistently across the various entities they oversee.
February 5 -
The Basel Committee on Banking Supervision has signaled that more changes for the leverage ratio, risk weights, and Pillar III will (eventually) be implemented. But it has yet to address operational risk and data collection issues.
February 5 -
Benjamin Lawsky, New York's top financial regulator, has asked more than a dozen banks including Goldman Sachs Group Inc. (GS) and Deutsche Bank AG (DB) for documents related to their currency trading practices
February 5 -
Corporate payment provider Wex is already laying the groundwork for 2015, when it plans to use the ExxonMobil fleet payments program to jump-start its efforts in the large network of European countries that comes with the new product.
February 5 -
Bankers have gone to jail since the financial crisis, but none of them have been senior executives from the biggest banks, even as those banks continue to face government charges and civil lawsuits over an array of operations and business practices. American Banker editor-in-chief Neil Weinberg explains why the legacy of "Too Big to Jail" is doing long-term damage to banks.
February 5
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While it is undoubtedly possible to create standalone institutions that can weather almost any financial storm, the capital and liquidity levels of those institutions will seriously limit their usefulness as engines of economic growth.
February 5 -
The United Kingdoms Office of Fair Trading has declined to renew the consumer credit licenses for debt buyer HFO Capital Limited and two affiliate collection agencies after finding evidence of misleading and unfair practices.
February 5 -
Lynn E. Szymoniak, famous for helping to uncover the robo-signing scandal, is now suing 22 companies for allegedly creating fraudulent documents and submitting tens of thousands of false claims to HUD.
February 5 -
JPMorgan Chase & Co. (JPM) will pay $614 million to settle claims it improperly approved Federal Housing Administration and Veterans Affairs loans that weren't eligible for insurance from those agencies because they didn't meet underwriting requirements.
February 5
