The Federal Reserve is giving banks an additional two years to comply with Volcker Rule standards for treatment of collateralized loan obligations after industry complaints that the requirements would lead to big losses.
The U.S. government took a step toward legitimizing the marijuana industry, allowing U.S. banks to offer accounts and other services to businesses in states where medical or recreational pot sales are legal.
European swap-trading platforms won a reprieve from Dodd-Frank Act rules in a deal that puts U.S. and European authorities on a path toward sharing oversight of most of the $693 trillion global market.
Lance Easley, the National Football League referee at the center of a touchdown call criticized by President Barack Obama and others, is a vice president of small business banking at Bank of America Corp. in California, according to American Banker.
U.S. banks are seeking to shield from scrutiny the $30 billion they collect annually in checking- account fees, saying a proposed requirement for periodic reports is unacceptable even if it exempts small institutions.