Cheyenne Hopkins

U.S. Senator Elizabeth Warren wants to restrict brokers from winning vacations, luxury cars and golf outings at the expense of retirees.

Democratic and Republican lawmakers are cooperating on legislation that would lift some of the secrecy around the U.S. council that decides which companies pose the biggest risks to the financial system.

Sen. Elizabeth Warren, the Massachusetts Democrat credited with conceiving the Consumer Financial Protection Bureau, said confirmation of a director for the agency is both a major step and a call to vigilance.

Dodd-Frank Act measures designed to prevent a repeat of the global credit crisis will be largely complete by the end of this year, financial regulators plan to tell lawmakers at a hearing today on the 2010 law.

Mary Jo White, President Obama’s choice to run the Securities and Exchange Commission, may be compelled to provide more information about her ties to large banks as senators press her about how she would operate as Wall Street’s regulator.

U.S. lawmakers and lobbyists who once backed repeal of the 2010 Dodd-Frank Act are now pushing for technical fixes to the law, and they’re getting a skeptical reception from the measure’s advocates.

Mid-sized banks that mostly let Wall Street and small firms speak for the industry during the debate over the Dodd-Frank Act have decided it’s time to carve out their own agenda in Washington.

A two-hour Senate Banking Committee hearing Thursday touched on virtually every major financial services topic under the sun but resolved little.

Top House Democrats attempted to halt momentum Wednesday for a bill to delay by 18 months the derivatives provisions of the Dodd-Frank Act.

Republicans are strongly considering using a rare procedural move to prevent President Obama from making a recess appointment to install a director of the CFPB.

Banks and several large technology companies, including Apple Inc. and Microsoft Corp., argue that because the Fed's proposed 12-cent interchange fee cap does not properly take into account the costs of fraud and fraud prevention, banks will inevitably have less money to protect data security, making the entire system less safe.

While the banking industry clearly has momentum on its side in the fight to delay a rule that would limit debit interchange fees, time for Congress to act is rapidly running out.

While saying JPMorgan Chase had capital to comply with new Basel III requirements, CEO Jamie Dimon said regulators had gone too far in crafting the international capital accord.

Frustrated by the lack of progress with a global settlement between the 50 state attorneys general and the top mortgage servicers, federal banking regulators are expected to move forward with their own enforcement actions against 14 servicers as early as next week.

The OCC and Fincen issued a $7 million civil money penalty against Pacific National Bank of Miami for Bank Secrecy Act violations and failing to comply with a previous order.

Although bankers are likely to have significant concerns about the risk retention proposal due next week, they appear to have won at least one victory already.

The 27-page term sheet handed to the five largest mortgage servicers last week is a detailed, dense list of requirements that, if implemented as proposed, would fundamentally change the relationship between servicers, investors and borrowers.

Federal agencies are set to establish sweeping new servicing standards not by legislation or regulatory process, but by a major action against the top five mortgage servicers.

For the second year in a row, enforcement actions set a record, jumping 21% last year, to 2,724, an increase industry representatives attributed to a persistently heightened focus on capital and safety and soundness standards in the wake of the financial crisis.

Despite an attempt in Dodd-Frank to preserve thrift institutions, a recent report on the elimination of the OTS is bolstering the view that the charter will exist in name only.