Law and regulation

Nelson, Hirsch & Associates, a Fairburn, Ga.-based collection agency, reached a $4.3 million settlement with state regulators on several charges of engaging in unfair business practices - including threatening consumers with arrest if they did not pay.

The operator of a Web site billed as a “Facebook and Myspace for Kids” agreed to settle Federal Trade Commission charges that he violated the FTC's Children’s Online Privacy Protection Act (COPPA) Rule by collecting personal information from 5,600 children without obtaining prior parental consent.

There's bad news for those who withdrew funds on Bank Transfer Day to punish the targets of their ire. Most banks don't really need their money — at least not right now.

Indonesia’s central bank plans to place stricter limits on credit card issuance to reduce rising consumer card debt in the country.

Federal Reserve Board officials have pledged not to force big banks to meet Basel III standards early, but have simultaneously warned institutions that they cannot pay dividends until they do so.

The flurry of regulations emanating from the Dodd-Frank Act, Basel III and Solvency II has induced an outpouring of technology spending from companies in the financial service sector, a new report finds.

American Banker editors discuss the White House's latest attempt to force the Senate to confirm Richard Cordray as CFPB director.

Fannie Mae's third-quarter loss widened to $5.09 billion as the mortgage company reported higher derivatives losses even though it set less money aside for bad loans.

Judge in FDIC lawsuit against former Wamu executives grants parties time to craft out-of-court agreement.

It's anyone guess who will prevail in the perennial fight over whether to allow larger government-backed mortgages.

Executives from Wal-Mart, 7-Eleven and McDonald's are raising concerns that the new debit-fee regulations they fought for are unlikely to boost their bottom lines.

Citigroup, JPMorgan Chase, BNP Paribas, Royal Bank of Scotland, and HSBC may face top capital surcharges of 2.5 percentage points, according to a provisional list prepared by global regulators and obtained by Bloomberg News.

The Consumer Financial Protection Bureau said Monday it plans to give banks a heads up when they face possible enforcement actions.

Today, the global financial reform agenda is increasingly targeted toward reducing the size, scope and systemic risk posed by large institutions. However, it appears to be the consensus that breaking them up is either politically or economically unwise.

The Consumer Financial Protection Bureau said Monday that it plans to notify banks or individuals that are under investigation for potential violations of consumer financial laws, to give them a chance to respond to the allegations before it takes legal action.

Richard Fredricks, a bank examiner at the FDIC in Nebraska, used his time at an ABA conference to encourage executives at farm bank to remain vigilant policing loans and to learn from the experiences of commercial lenders.

The central bank's senior officer loan survey shows that while U.S. banks have made loans to European banks or their affiliates, their exposure appears relatively low.

The Supreme Court said Monday it will take up a case to decide whether an individual may allege discrimination under the Fair Housing Act based solely on the impact of a policy, rather than the intent.

A collection of distinct industry associations claim to speak for large banks on policy issues, in addition to each bank's individual efforts. But could a more focused effort help their message?

LAS VEGAS–It may be too early to tally the numbers from new, lower debit-interchange rates that took effect Oct. 1, but three of the nation’s largest merchants already are sending signals that the new debit-pricing structure is unlikely to boost their bottom lines.