Law and regulation

From the Card Act to the CFPB to Durbin, new regulations succeed only in raising the prices or crimping availability of financial services. Memo to politicians: Google "unintended consequences."

You can't claim to be a victim of watchdogs and at the same time blame watchdogs for being dumb, inept and disorganized.

The supense is over: the CFPB flexed its enforcement muscle. Capital One's practices for marketing credit card add-on products was the subject of the agency's first enforcement order.

U.S. regulators led the world in developing Legal Entity Identifiers. Now that the G20 has embraced the idea, though, we need to get on the same page with other nations.

Stricter state regulation of payday lenders slows use of the loans and doesn't drive borrowers online or out of state, says the Pew Charitable Trusts in a new report.

Sen. Bob Corker, R-Tenn., announced Wednesday he is ending his opposition to an industry-backed bill ensuring banks can keep their claim of privilege when handing confidential information to the Consumer Financial Protection Bureau.

Should Davis Polk be designated at a "Sytemically Important Financial Illustrator," asks the Financial Times, in reference to a "gem" of a chart that the law firm created to track Dodd-Frank's progress at age 2.

FSOC makes its first official designation of large firms that will be subject to new Dodd-Frank regulatory regime.

Loan demand tracked the overall U.S. economy in June and the first half of July as growth was slight and spotty, the Federal Reserve Board reported Wednesday.

Jeremiah Norton expressed empathy for smaller banks during his first public remarks since joining the FDIC in April. Still, he rejected calls to delay implementation of Basel III capital requirements.

The Consumer Financial Protection Bureau issued its first enforcement action Wednesday, ordering Capital One Bank N.A. to pay $165 million for what the agency described as deceptive marketing tactics related to various credit card products.

Texas lawmaker says transparency of central bank is insufficient and Congress should get a "backbone." But Fed chairman counters that required audit could subject decisions to political influence.

The majority of likely voters, regardless of party affiliation, support the Dodd-Frank financial reform law and the Consumer Financial Protection Bureau, according to a poll organized by consumer advocates.

U.S. Bancorp executives view the issuer's portion of the proposed $7.25 billion swipe-fee settlement, which some merchants are fighting, as an expense already incurred.

The Federal Reserve Board has entered into a written agreement with TCB Holding that requires the Woodlands, Texas, company to serve as a source of strength for its bank.

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.