Law and regulation

The Consumer Financial Protection Bureau's final rule on prepaid cards will improve fraud protection and provide greater transparency of costs for such products, but is already drawing fire from both consumer advocates and bankers over how it treats overdraft fees.

The Consumer Financial Protection Bureau's final rule on prepaid cards will improve fraud protection and provide greater transparency of costs for such products, but is already drawing fire from both consumer advocates and bankers over how it treats overdraft fees.

The Federal Trade Commission took a victory lap Tuesday in its fight with race car driver Scott Tucker and his payday lending operation.

Wells Fargo Chief Executive John Stumpf may get a third grilling by lawmakers over the fake-accounts scandal that continues to embroil the San Francisco bank.

WASHINGTON — Bank trading revenue in the second quarter rose by more than 25% from a year earlier to $6.9 billion on rising combined interest rate and foreign exchange revenue, according a report issued by the Officer of the Comptroller of the Currency on Tuesday.

WASHINGTON – Parts of the revised resolution plans of the eight largest U.S. banks were released Tuesday, according to the Federal Reserve and Federal Deposit Insurance Corp.

The bank's fake account scandal is further reason to make the results of Wells' 2012 Community Reinvestment Act exam public.

Information security, internal controls, workforce planning and building renovations are priorities that the Consumer Financial Protection Bureau should quickly address, its inspector general said last week.

Visa, MasterCard and American Express lost an early round of a lawsuit alleging they colluded to pin liability for fraudulent transactions on merchants who didn't meet a chip-reading technology deadline.

Midland States Bancorp in Effingham, Ill., has ended loss-share agreements related to two failed banks it acquired.

Fallout from the Wells Fargo phony accounts scandal has reached Midwest bond borrowers, with Illinois announcing bans on bond and investment work and the Chicago City Council set to consider a moratorium on any bond-related business.

The former secretary of state used the Wells enforcement action to call for tougher standards on Wall Street, restraints on the use of forced arbitration clauses and continued defense of the Consumer Financial Protection Bureau.

A Morgan Stanley unit was accused by Massachusetts officials of forcing its financial advisers into high-pressure sales contests to cross-sell so-called securities-based loans and other products to clients.

While the Wells Fargo scandal might offer marketing opportunities for community banks, there is concern about regulatory fallout that fails to distinguish between large and small banks.

A strategy to reinvigorate black-owned financial institutions would not only bring hope to the black community but would also be an inspiration for other minorities who seek to be more effectively served by financial institutions that understand their needs.

U.S. Bancorp has agreed to settle a lawsuit that claimed it neglected to maintain foreclosed properties in Southern California after the 2008 financial crisis.

Wells Fargo Chief Executive John Stumpf's two disastrous appearances on Capitol Hill have fueled calls for him to resign — and many analysts are wondering whether the embattled executive will be able to keep his job.

Julie Stackhouse, head of supervision at the Federal Reserve Bank of St. Louis, discusses the insights that resonated at the regulator's recent community banking conference — some encouraging for the future of small financial institutions, others less so.

A bipartisan group of House lawmakers sent a letter to the Consumer Financial Protection Bureau on Thursday expressing concern about the agency's proposal to rein in payday lending and other short-term credit, warning it could hamper credit availability.

Since Wells Fargo's settlement three weeks ago with federal regulators over charges thousands of employees opened up millions of fake accounts, the bank's troubles have only grown worse. Lawsuits by former employees have been filed, the bank's chief executive was subject to two disastrous hearings on Capitol Hill and lawmakers are opening calling to break the bank up. But it is the multiple investigations into the bank which may prove to be its toughest challenge. While some relate to the phony accounts, others touch on different issues — and they have been growing. Following is a look at investigations, recent settlements and other actions taken since the news broke in early September.