News Topic: Law and regulation

CFO John Shrewberry projects that legal costs and other expenses related to the scandal will swell to between $50 million and $60 million and remain at that level for the next several quarters. ... Read full article

Cooper built TCF into a Midwestern powerhouse by targeting what he called the “Joe Lunch-Bucket crowd.” ... Read full article

Jessica Rich, who joined the agency in 1991, is stepping down in mid-February, the FTC announced Tuesday. ... Read full article

For certain banks, it might make sense to require the chairman of the board to be an outside board member. But that’s a decision best left up to the board and management. ... Read full article

Easing regs without mulling the consequences could hurt the financial system, but a fintech charter and other careful reforms could promote innovation, Patrick Harker said. ... Read full article

American Banker readers share their views on the most pressing banking topics of the week. Comments are excerpted from reader response sections of AmericanBanker.com articles and our social media platforms. ... Read full article

Cannabis could become a national $100 billion industry within 10 to 15 years. The U.S. has a choice: responsibly regulate cannabis or allow cannabis to become a narco-state unto itself. ... Read full article

The newly installed chairman of the Federal Communications Commission voted against 2015 rules that largely rejected the banking industry's entreaties. ... Read full article

PHH Corp. is opposing an attempt by Democratic attorneys general in 16 states and the District of Columbia to intervene in an appeals court case that found the Consumer Financial Protection Bureau unconstitutional. ... Read full article

After initially declining this weekend to weigh in on President Trump’s travel ban regarding refugees and others traveling from seven nations, Citigroup said Monday that it is worried about the order’s impact on its employees and customers. ... Read full article

Several prominent Democrats, including Minority Leader Charles Schumer, said Monday that they would oppose the nomination of Treasury Secretary-designate Steven Mnuchin. ... Read full article

In a sharply worded message to staff, Lloyd Blankfein, Goldman Sachs' longtime head, broke with the Trump administration over its controversial attempt to crack down on immigration. ... Read full article

Citi is close to deals to sell its customer and non-customer servicing portfolios; Wells tries to limit investor resolutions in its annual meeting proxy materials. ... Read full article

While bankers feel more positive about the environment since the election, taking advantage of the new environment is what’s really important. ... Read full article

A new director of the consumer bureau must focus on how a still-relatively-young agency matures while maintaining a positive consumer protection agenda. ... Read full article

Having a bank loan officer authorized to also cross-sell securities is like holding a burning candle at both ends. Sooner or later the bank will get burned. ... Read full article

The plan to offer special-purpose national charters to fintech companies is a one-size-fits-all approach that could prove detrimental to the growth of startups. ... Read full article

Native American tribal lenders that market small-dollar and installment loans can be investigated by the Consumer Financial Protection Bureau, a California appeals court ruled Friday in a victory for the consumer agency. ... Read full article