Senate Rejects Proposal to Delay Durbin Amendment

By Sarah Borchersen-Keto, CCH Washington News Bureau, Contributing Author, the CCH Federal Banking Law Reporter, June 8, 2011. The Senate rejected by  54 to 45 votes a proposal that would have delayed for one year the scheduled July 21 imposition of new Federal Reserve Board rules capping interchange fees for issuers with assets over $10 […]

Warren Responds to Blue Dog Coalition Regarding TILA/RESPA Disclosures

By J. Preston Carter, J.D., LL.M., Editor, Financial Privacy Law Guide, CCH Federal Banking Law Reporter, State Banking Law Reporter and Bank Digest; co-author, Dodd-Frank Wall Street Reform and Consumer Protection Act—Law, Explanation and Analysis, June 8, 2011. Responding to a letter from Reps. Ben Chandler, D-Ky., and Tim Holden, D-Pa., on behalf of the […]

Bernanke Says Sluggish Economy Warrants Continued Low Interest Rates

By Sarah Borchersen-Keto, CCH Washington News Bureau, Contributing Author, the CCH Federal Banking Law Reporter, June 7, 2011. While the U.S. economy is moving in the “right direction,” it is still producing at levels well below its potential, making it necessary for low interest rates to persist, Federal Reserve Board Chairman Ben Bernanke said June […]

Geithner Urges Financial Community to Back Strong Regulators

By Sarah Borchersen-Keto, CCH Washington News Bureau, Contributing Author, the CCH Federal Banking Law Reporter, June 6, 2011. Treasury Secretary Tim Geithner warned the financial community that it is in their own best interest to ensure that strong, well-resourced regulators emerge from the overhaul of financial regulation. Speaking June 6, 2011, to the International Monetary […]

Fed Seeks More Transparency in Systemically Important Designations

By Sarah Borchersen-Keto, CCH Washington News Bureau, Contributing Author, the CCH Federal Banking Law Reporter, May 12, 2011. Federal Reserve Board Chairman Ben Bernanke told Congress that “more details are necessary” in terms of how the Financial Stability Oversight Council will designate non-bank financial firms as systemically important to the economy. Appearing May 12, 2011, […]

Johnson Warns Against Dismantling Dodd-Frank

By Sarah Borchersen-Keto, CCH Washington News Bureau, Contributing Author, the CCH Federal Banking Law Reporter, May 10, 2011. Senate Banking Committee Chairman Tim Johnson, D-S.D. warned that attempts to dismantle the Dodd-Frank Act would be “dangerous and irresponsible,” and stressed that “we simply cannot afford to go back to the old financial system that destroyed […]

FDIC Sees Bank Failure Losses Falling

By Sarah Borchersen-Keto, CCH Washington News Bureau, Contributing Author, the CCH Federal Banking Law Reporter, April 12, 2011. Losses from bank failures to the Federal Deposit Insurance Corporation’s deposit insurance fund for the period 2010 to 2014 are now projected to stand at $45 billion, compared with $52 billion forecast last October. “While it is […]

FDIC Sees Bank Failure Losses Falling

By Sarah Borchersen-Keto, CCH Washington News Bureau, Contributing Author, the CCH Federal Banking Law Reporter, April 12, 2011. Losses from bank failures to the Federal Deposit Insurance Corporation’s deposit insurance fund for the period 2010 to 2014 are now projected to stand at $45 billion, compared with $52 billion forecast last October. “While it is […]

FRBank-NY’s Dudley Discusses Global Regulatory Reform

By John M. Pachkowski, J.D., Editor, CCH Federal Banking Law Reporter and Bank Digest Author, Anti-Money Laundering and Bank Secrecy: Compliance and the USA PATRIOT Act; co-Author CCH Financial Privacy Law Guide and Dodd-Frank Wall Street Reform and Consumer Protection Act—Law, Explanation and Analysis, April 11, 2011. In a speech before the Institute of Regulation […]

Legislation Would Reform Consumer Financial Protection Bureau

By Serena Lynn, Editor, the CCH Federal Banking Law Reporter and Bank Digest, April 8, 2011. Legislation has been introduced in the Senate that would reform the structure of the Consumer Financial Protection Bureau. The Responsible Consumer Financial Protection Regulations Act of 2011—S. 737—would replace the single CFPB director with a Senate-confirmed, five-person commission similar […]