Regulation

Former Trump Labor Secretary Eugene Scalia has been enlisted by the Bank Policy Institute to utilize his procedural expertise in advising on potential legal challenges to the Basel endgame capital proposal, as the banking industry intensifies efforts to challenge increased capital requirements for large banks.

Federal Reserve Vice Chair for Supervision Michael Barr said feedback received will be incorporated into the final version of the capital reform rule.

Banks cannot shrug off the impact of sudden account closures as inevitable collateral damage involved in fighting money laundering.

The American Bankers Association requested that President Joe Biden tell Treasury Secretary Janet Yellen to study the impact of more robust bank regulation.

Tanya Otsuka's confirmation gives the Democrats control of the National Credit Union Administration's board for the first time since 2016. Here's how that will impact its agenda.

The resolution to nullify the CFPB's small-business data rule, which would require lenders to collect demographic information before making loans to small-businesses, passed in both chambers with some bipartisan support.

Proposed capital rules aimed at bigger institutions will force regional and larger community banks to consider ways to grow or seek an exit strategy, bankers and analysts predict.

Bank customers' complaints of sudden account closures track a rise in automated anti-money-laundering decisions and possibly outdated AML rules.

The Federal Reserve's vice chair for supervision said the central bank is weighing regulatory and supervisory changes to liquidity management standards. Current approaches, he said, might not be able to contend with the speed of modern runs.

The platform will allow banks to share the names and account information of suspected scammers almost in real time. The American Bankers Association is set to test the system with a group of 20 pilot banks early next year.