Law and regulation

Visa Europe should match MasterCard's lower fees for credit cards to settle a European Union antitrust investigation, the EU’s antitrust chief said.

Two years after Dodd-Frank became law, the banking system continues to lack the basic tenants of transparency into the workings of the largest institutions and the good governance that comes with strong board oversight.

Mete out fitting punishments and get it over with. There are much more urgent issues in front of us.

The Durbin amendment in Dodd-Frank eliminated debit-network exclusivity, prompting heightened competition among the electronic funds transfer networks.The NYCE network, which is owned by FIS, already has benefited.

HSBC executives, grilled by the Senate over anti-money laundering lapses, have become a study of what happens when a bank mismanages risk.

Consumer bureau, working in conjunction with OCC, orders Capital One to pay $210 million for deceptive credit-card marketing practices.

Firms may abandon prudent risk management practices such as hedging with derivatives to avoid the SIFI designation. Agencies should have to prepare the equivalent of an Environmental Impact Statement before slapping the SIFI stamp on a firm.

Finally, senior policymakers are focusing on negative equity. But the answer to the problem is to change borrowers' incentives, not to abrogate contract and property rights.

"Democratic Sen. Jon Tester, a member of the Senate Banking Committee, is locked in a tight reelection race against Republican Rep. Denny Rehberg," writes American Banker’s Kevin Wack.

Arkansas Attorney General Dustin McDaniel filed a lawsuit Tuesday alleging that National Credit Adjusters has illegally sought to collect on payday loan debts in the state.

Comptroller of the Currency Thomas Curry is trying to create a tougher, more ethical agency, he testified Tuesday on Capitol Hill.

Compliance chiefs at other banks should roll video of a Senate panel's grilling of HSBC executives about anti-money-laundering failures when they want to demonstrate the consequences of mismanaging risk.

The Florida bank is eager to add loans after raising $5 million to surpass capital requirements from a 2011 consent order. It did so at a time when capital raising is on the decline.

WASHINGTON — The Office of Comptroller of the Currency on Tuesday announced the appointment of Donna Deale as deputy comptroller for thrift supervision.

Federal Reserve Board Chairman Ben Bernanke rose to the defense of the New York Fed over its handling of reports as far back as four years ago that Barclays traders had been manipulating the London interbank offered rate.

In his first speech since agreeing to oversee the $25 billion agreement, Joseph Smith said that he can't police new servicing standards without help from borrowers and their representatives.

An anonymous letter sent to some shareholders of PrepaYd Inc. appears to have ties to a California Department of Corporations subpoena the prepaid card company received a year ago. And it has the company's CEO fuming.

The populist rhetoric is heating up in Montana Senate race between Jon Tester and his Republican rival. Both the tone of the race and its ultimate outcome will have big implications for banking.

Jim McMahon may have been a master at the Super Bowl Shuffle dance, but the former Chicago Bears quarterback apparently was less skilled as a bank director.

HSBC's head of group compliance, David Bagley, told a Senate hearing he will step down amid charges the bank gave terrorists, drug cartels and criminals access to the U.S. financial system by failing to guard against money laundering.