Law and regulation

The anti-laundering penalty box

01/13/17

Violations of Bank Secrecy Act and anti-money-laundering compliance remains a hot topic for financial institutions as regulators can bar them from branch building and bank acquisitions. Here are some notable regulatory actions that are still unresolved.

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Trump team signals it will oust CFPB's Cordray

01/12/17

A top Trump administration official said Thursday that the president-elect is considering former Rep. Randy Neugebauer to run the CFPB, the first clear sign that he intends to dismiss Richard Cordray.

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'Thanks, Daddy Cordray': Comments of the week

01/12/17

American Banker readers share their views on the most pressing banking topics of the week. Comments are excerpted from reader responses to AmericanBanker.com articles, social media, and from around the web.

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FSB calls for closer regulation of asset managers

01/12/17

An international regulatory body outlined a series of recommendations for reducing risks posed by the asset management industry, particularly increasing liquidity and reducing leverage posed by derivatives positions.

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CFPB warns of online debt collection market

01/12/17

The Consumer Financial Protection Bureau on Wednesday warned about the risks of the online debt sales, alleging that sensitive personal and financial information is available in some instances to any visitor to a debt marketplace website.

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Mnuchin vows to sell fund with ties to GSEs

01/11/17

Treasury Secretary-designate Steven Mnuchin will divest himself of his investments and interests in a number of companies and funds once confirmed, including a fund that has bet on Fannie Mae and Freddie Mac being recapitalized and released from government control.

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High stakes, low expectations for Carson's HUD hearing

01/11/17

HUD Secretary-designate Ben Carson is all but certain to get confirmed to his post—unless he makes a major mistake during his confirmation hearing.

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Regulation hampers innovation: B of A's Moynihan

01/11/17

Simple innovations -- such as those that would bring the underbanked into the financial mainstream -- are often stymied by regulation, says Bank of America CEO Brian Moynihan.

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Sessions would enforce federal pot laws, may end choke point

01/11/17

Attorney General-designate Sen. Jeff Sessions R-Ala., could pose a roadblock for marijuana businesses seeking financial services, but might also end a controversial Justice Department program targeting payment processors and financial institutions.

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