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.
Bankers and retailers are resuming their fight over responsibility for losses from cybertheft as Congress weighs responses to a security breach at Target Corp. that exposed data from tens of millions of accounts.
The final version of the Volcker Rule was challenged in a lawsuit over claims that requiring small banks to divest their holdings in some collateralized debt obligations will cause them about $600 million in losses.
U.S. banking industry groups are pressing regulators to clarify accounting for certain securities under the Volcker Rule after lenders complained the Dodd-Frank Act measure may force them to take writedowns.
A New Jersey town settled a housing- bias lawsuit that was set for a U.S. Supreme Court hearing next month, scuttling a case that might have shielded lenders from discrimination suits pressed by the Obama administration.
New U.S. rules requiring simplified mortgage paperwork will take effect in August 2015 without an exemption for small lenders, according to people briefed on plans by the Consumer Financial Protection Bureau.
U.S. banking regulators provided advice on how banks should treat certain securities in a document quickly panned by industry groups for failing to address their concerns that the newly finalized Volcker Rule will force banks to take losses on the securities.