Law and regulation

The CEO of HSBC USA says that stricter regulation is crucial to strengthening the banking system and winning back customers' trust, but she remains frustrated by the glacial pace of the rulemaking.

According to Consumer Financial Protection Bureau Director Richard Cordray, banks can expect changes to federal reporting requirements for mortgage data.

The GAO should focus on the gross benefit of being "too big to fail", not the benefit net of fines, penalties and regulatory burdens.

A senior executive at OFG Bancorp (OFG) in San Juan, Puerto Rico, is moving to the top ranks of the Federal Home Loan Bank of New York.

Revisions to banks' duties under the Home Mortgage Disclosure Act are coming soon, and they are meant to "ease the operational and technological burdens" of banks, the head of the Consumer Financial Protection Bureau said.

Saddle River Valley Bank, which was bought last year by Center Bancorp, allegedly failed to adequately monitor transactions with currency exchange houses in Mexico and the Dominican Republic.

Sen. Bob Corker, a co-author of legislation to overhaul the mortgage finance market, forcefully defended his proposal that private capital take at least 10% of the first loss on mortgage-backed securities. Others predicted that he'll have to water it down to advance the bill.

Perhaps not surprisingly, a federal government that lives beyond its means tragically encouraged American families to do the same.

Federal Reserve Bank of Cleveland President Sandra Pianalto said the central bank is working to improve the speed and security of the U.S. payments system.

Bank of America was ordered to pay $2.2 million to black job applicants who were unfairly rejected for teller and clerical positions in a case spanning almost two decades, according to the U.S. Department of Labor.

Comptroller of the Currency Thomas Curry said his agency plans to issue formal guidelines about the regulator's "heightened expectations" for large banks under its supervision.

Community bankers may have a long wish list of legislative changes for Congress to consider, but it is unlikely lawmakers will take up a comprehensive bill addressing those issues anytime soon.

Three years after passage of the Dodd-Frank Act, many bankers are still anxious as they wait for some rules to be written and others to be implemented. Yet a new set of regulatory and legislative challenges looms.

With every action now being scrutinized in real time, banks don't necessarily need guidelines and mandates to know if they are doing right by customers and shareholders, Fifth Third CEO Kevin Kabat says at American Banker's Regulatory Symposium.

You would be forgiven in thinking the OCC has been solely preoccupied with JPMorgan Chase in recent days, but the agency has disciplined three other national banks since late August, according to its monthly roundup of enforcement actions.

JPMorgan Chase will be charged by federal prosecutors in California in connection with sales of mortgage-backed securities, a person familiar with the matter said.

Federal Deposit Insurance Corp. Chairman Martin Gruenberg tells audience at American Banker's Regulatory Symposium of need for "complementary" relationship between leverage and risk-based capital ratios.

Regulators slapped Toronto-Dominion Bank's main U.S. unit with more than $52 million in fines for violating the Bank Secrecy Act and securities laws in relation to a Ponzi scheme in Florida.

Despite Basel III's shortcomings, I have yet to hear of a better solution than combining risk-weighted assets with a strong leverage ratio. Both require uniform guidelines for banks and disclosure.

Panelists at American Banker's Regulatory Symposium will discuss a federal proposal addressing how banks should develop risk management policies for their use of social media.