Law and regulation

Sen. Bob Corker said Wednesday he plans to oppose extending the Transaction Account Guarantee program, just days after the Senate's top Democrat proposed a two-year renewal.

We now have two different definitions of a "high-cost" mortgage, as well as a "higher priced" mortgage, and a "higher risk" mortgage. Clearly, Congress failed to practice what it preaches.

Senate Majority Leader Harry Reid has sponsored a standalone bill to give the Transaction Account Guarantee program another two year. The extension, which many community bankers view as critical, is still very much in doubt.

U.S. units of foreign lenders including Deutsche Bank AG may be required by regulators to comply with tougher capital rules that some banks sought to skirt, three people with knowledge of the discussions said.

Mortgage lender American Financial Resources filed a lawsuit against Countrywide Home Loans Servicing and Bank of America seeking more than $10 million for an alleged breach of contract, negligence and fraud.

Throughout his three decades in Congress, Barney Frank reached across the aisle to tackle big problems, and crafted groundbreaking legislation with far-reaching effects for banks.

Operation HOPE's John Hope Bryant and Gallup CEO Jim Clifton offer up an idea for bankers who want to spread financial literacy.

A legal battle between banks and contractors in Illinois has now turned into a legislative fight, with bankers trying to derail a proposed bill that they claim would jeopardize construction.

During three decades in Congress, Barney Frank reached across the aisle to tackle big problems and craft groundbreaking legislation.

WikiLeaks founder Julian Assange accused two members of Congress of pressuring MasterCard and Visa to block payments to his group after it published thousands of confidential messages.

The House Republican Steering Committee officially recommended the Texas lawmaker for chairman of the House Financial Services Committee on Tuesday.

West Virginia lawmaker Shelley Moore Capito may step up her activity on the House banking panel this coming term, as she makes a run for Sen. Jay Rockefeller's seat in 2014.

The tentative approval of Visa and MasterCard’s proposed $7.25 billion settlement of a merchant fee price-fixing case will be challenged in a federal appeals court, according to a notice filed by objecting plaintiffs in Brooklyn, New York.

The Consumer Financial Protection Bureau says it will propose changes to the remittance rule to ease burdens on community banks. It is also delaying its implementation by an additional 90 days.

Senate Majority Leader Harry Reid has sponsored a stand-alone bill to give the Transaction Account Guarantee program another two years, but its passage is not a slam dunk.

A report issued Tuesday by CardHub.com says that the Fed set an "embarrassingly low bar" for issuer disclosures.

These banks have outperformed industry averages for years and continued to do so in 2012, avoiding the exceptional losses that often follow exceptional returns.

WikiLeaks lost more than $50 million in potential donations after Visa Europe, MasterCard and American Express blocked payments to the anti-secrecy group, according to its founder Julian Assange.

Banking associations are mounting another push to keep the Senate from voting on a bill to raise the cap on credit union business lending.

Regulators released new details on how they will enforce restrictions on charter swaps by troubled banks writes American Banker's Joe Adler.