Jesse Hamilton

The move limits the bank’s ability to make golden-parachute payments and requires regulator approval before executives are hired.

Regulators are looking to ensure Wells Fargo’s scandal over unauthorized customer accounts isn’t being repeated at other institutions.

Lobbyists who’ve been bashing away at Washington’s latest effort to regulate Wall Street pay may find the lender just grabbed the hammer from their hands.

Banks including JPMorgan Chase, Citigroup and Morgan Stanley have been notified regulators are preparing enforcement actions on currency rigging, people familiar with the investigation said.

This week, for the third time, the biggest U.S. banks have sent regulators detailed plans for their own demise. The regulators’ response to those filings has been far less detailed.

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.

Schapiro, 57, will be replaced as chairman when she steps down on Dec. 14 by Commissioner Elisse Walter, former senior executive vice president at the Financial Industry Regulatory Authority, President Obama said in a statement.

Tim Pawlenty, the former Republican governor of Minnesota who criticized Wall Street while running for president last year, is joining the Financial Services Roundtable as president and chief executive officer.

Even with Wall Street and consumer advocates allied in pushing for it, a U.S. Securities and Exchange Commission proposal to raise standards for brokers advising retail investors has run aground.