Victoria Finkle
BankThink EditorVictoria Finkle is deputy Washington bureau chief and editor of American Banker's op-ed blog, BankThink.
Victoria Finkle is deputy Washington bureau chief and editor of American Banker's op-ed blog, BankThink.
A new push by President Obama to tighten cybersecurity at banks and other businesses could help light a fire under some firms that have historically been slower to react in the wake of a data breach and help financial institutions dealing with a tangle of confusing state laws.
Lawmakers could simply raise the level to, say, $100 billion, but that would only help a small handful of banks and not address the underlying concerns.
Bank of America must pay a record amount for mortgage-related claims, but the accord still leaves questions about tax liability and other banks in the government's crosshairs.
Sens. Sherrod Brown, D-Ohio, and David Vitter, R-La., continued to press their case over "too big to fail" in the wake of a new government report that raises fresh questions about the size of a market subsidy for the largest institutions.
A highly anticipated government report due to be released July 31 is expected to say big banks received less of a subsidy from the perception that they are "too big to fail." But it remains uncertain whether that would continue to be true in a future crisis or if market conditions change.
The Justice Department's $7 billion deal with Citigroup is likely not the last big government maneuver to penalize banks for faulty mortgage-related practices leading to the financial crisis.
The Justice Department likely hopes that Credit Suisse's guilty plea to a criminal charge will squash the idea that some large institutions are too important to the economy to prosecute. But experts say the issue is more complicated than that, arguing that the debate will live on. Here's why.
Sen. Elizabeth Warren's new book details the Massachusetts lawmaker's dramatic rise from humble Oklahoma roots to bookish Harvard law professor to liberal juggernaut, and includes some behind-the-scenes insights to the formation of the CFPB and its agenda.