Cheyenne Hopkins

Tester pens op-ed in Montana Tavern Times on why he's pushing to delay rule to limit interchange fees; Warren shows up on the Daily Show, rails against effort to "defang" CFPB.

Banks and several large technology companies, including Apple Inc. and Microsoft Corp., argue that because the Fed's proposed 12-cent interchange fee cap does not properly take into account the costs of fraud and fraud prevention, banks will inevitably have less money to protect data security, making the entire system less safe.

The Independent Community Bankers of America and the American Bankers Association announced Tuesday their upcoming regulatory conferences.

While the banking industry clearly has momentum on its side in the fight to delay a rule that would limit debit interchange fees, time for Congress to act is rapidly running out.

WASHINGTON — While the banking industry clearly has momentum on its side in the fight to delay a rule that would limit debit interchange fees, time for Congress to act is rapidly running out.

The Senate Banking Committee announced several additions to its staff and a few promotions Wednesday, including Drey Samuelson as senior adviser and Charles Yi as chief counsel and deputy staff director.

Sheila Bair's high ranking on a Forbes list takes a dip; acting OCC comptroller likens rules related to the Dodd-Frank Act to multiple prescribed medications; and more.

Sen. Jon Tester took to the Senate floor to lobby for support of his bill to delay the Durbin interchange rule by two years, arguing it would hurt small business and community banks.

Lawmakers from both political parties warned Thursday the risk retention proposal could spark a credit crunch and cripple community banks' effectiveness.

While the regulatory order requires the servicers to overhaul their operations, it also bolsters a key bank defense — namely, that the significant problems uncovered in the process have not led to improper foreclosures.

The fight over the interchange amendment heated up on Wednesday when Sen. Dick Durbin sent JPMorgan Chase CEO Jamie Dimon an open letter defending the provision.

After months of investigation, federal banking regulators issued a final cease and desist order against the 14 largest servicers that will require them to overhaul their operations.

WASHINGTON — Under pressure from Congress, federal regulators issued proposals Tuesday that would exempt corporate end users of derivatives from new margin requirements but force them to maintain sufficient capital in case of future losses.

Iowa Attorney General Tom Miller blasted a study Tuesday that said proposed servicer settlement terms could cost the economy $10 billion a year. Miller, who is leading the settlement on behalf of the attorneys general, said the study was "grossly inaccurate," and noted it was paid for by the financial services industry, including some of the servicers involved in talks with the AGs.

A group of technology firms sent a letter last week to senators urging them to support a delay to the Durbin interchange amendment, citing privacy concerns and fears about the security of debit transactions.

A study from three top economists says that a proposed mortgage servicer settlement from state attorneys general and a host of federal agencies would do more harm than good.

The Consumer Financial Protection Bureau sent a letter to banks on Friday notifying them that they do not yet have to comply with a Dodd-Frank requirement that mandates data collection on credit applications by women and minorities.

The Consumer Financial Protection Bureau and the 50 state attorneys general released a joint statement on Monday designed to strengthen their ability to work together.

An agreement between the Obama administration and lawmakers over this year's fiscal budget includes audits of the newly created Consumer Financial Protection Bureau.

Rep. Spencer Bachus claims Rep. Barney Frank spoke to him about amendments to reg reform law ... but that's news to Frank; former Fed officials join Promontory Financial; and more.