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Retailers have been able to get credit card surcharge bans in California and New York thrown out by using an unusual legal argument based on the First Amendment. The wins are significant, but merchants still need to fight through a legal thicket before card surcharges become practical.

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American Express executives are shedding more light on the company's legal strategy after its recent loss in an antitrust fight with the Justice Department over merchant contracts. Hint: they are in no rush to alter the status quo.

The Justice Department's Clifford White is putting all mortgage servicers on notice that they too will be punished if they flout bankruptcy rules.
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Lower-than-expected interest rates and greater demand for purchase loans has been a boon for both mortgage lenders and the crop of new or returning players providing warehouse lines of credit.

It's looking more likely that a judge will have to impose a fix that will bring American Express' merchant rules into compliance with federal law.

If you thought the subprime mortgage-backed security was an artifact of the past, think again. Nomura Holdings and Angel Oak Capital have a deal that may help revive the part of the market that went bust during the crisis. Their success could encourage more banks to dip their toes back into riskier mortgages.

There are a lot of consumer, investor and regulatory complaints about how the nonbank servicing firm does business, but Morgan Stanley researchers offer reasons why certain investors and borrowers could benefit from sticking with Ocwen.

By poaching Ruth Porat from Morgan Stanley, it's clear Google wants to forge closer relationships with banks. That's because banks hold the key to helping Google expand its Google Wallet mobile-payments product.

The design of Square Cash's new "$Cashtag" system may seem like a cutesy move to appeal to more consumers, but the underlying changes to the app show that Square's new focus is all business.

Bank of New York Mellon is building out a new investment firm with mortgage specialist Amherst Holdings. The move is its second major commitment to a fixed income-related fund this year.

Ally Bank, which has been known for online deposit-gathering and ads that poked fun at traditional banks, was the envy of some in the industry and a source of anger for others. But now it is looking to alter its business model as its struggling parent company retools.

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