Law and regulation

After months of fretting, ISOs, agents and processors are viewing the upcoming cap on debit card interchange fees as a golden opportunity to increase margins, boost revenue and gain market share.

In an effort to further cool down an overheating credit card market, South Korea’s financial regulator has announced new limits for card companies’ operations.

While the topic of a House hearing Thursday was supposed to be about mortgage servicing standards, the target was really the Consumer Financial Protection Bureau.

The Treasury Department released details Thursday about the first wave of capital released under the much-anticipated Small Business Lending Fund.

WASHINGTON — Nearly three years to the day of seizing IndyMac Bank, the Federal Deposit Insurance Corp. launched formal action against its former chief executive, saying he "negligently" allowed the thrift to keep making risky loans despite signs of market stress.

JPMorgan Chase & Co. has agreed to pay $228 million to settle criminal and civil charges stemming from former employees' fraudulent bid-rigging of at least 141 municipal bond-related reinvestment contracts involving state and local issuers and conduit borrowers in at least 31 states over eight years.

As the five members of the FDIC board took their seats Wednesday, the elephant in the room was where they would be sitting next time.

Visa Inc. says some of its contracts with bank card issuers must be “redone” to comply with new debit card regulations that take effect this year, but most already meet the requirements.

Many prepaid card companies will be forced to strip away features — or even change bank partners — if they want to qualify for exemptions from the new caps on debit interchange fees.

The Federal Reserve on Tuesday announced three written agreements.

Many prepaid card companies will be forced to strip away features — or even change bank partners — if they want to qualify for exemptions from the new caps on debit interchange fees.

Visa Inc. says some of its contracts with bank card issuers must be "redone" to comply with new debit card regulations that take effect this year, but most already meet the requirements.

In an unintended consequence of the newly revised federal rules on cybersecurity, banks are likely to fare much worse in lawsuits over fraud losses.

Retailers such as 7-Eleven Inc. pulled out the stops to get consumer support during the merchants’ lobbying campaign to win lower debit interchange fees.

Inquiring minds have been dying to know: who was Elizabeth Warren rushing to meet when she left a House Oversight subcommittee hearing after a dispute with the chairman?

The Mortgage Bankers Association is asking the Consumer Financial Protection Bureau to sit down with key stakeholders as it continues to revise mortgage disclosure forms.

At the last board meeting led by Federal Deposit Insurance Corp. Chairman Sheila Bair, the agency finalized details of its new resolution authority for giant nonbanks, but delayed action on "living will" requirements for systemically important firms.

The Federal Deposit Insurance Corp. board of directors Wednesday will address the internal resolution plans firms will submit to assist a hypothetical wind-down, and the creditor-claims process for seized financial behemoths.

Although the administration has made clear that it supports a more narrow preemption standard, industry watchers say Curry, a former state regulator tapped as the next head of the Office of the Comptroller of the Currency, is unlikely to disagree sharply with policies developed by his predecessors.

Regulators are hitting banks with fewer enforcement actions, but don't assume that means the industry's getting healthier. The decline could merely reflect a shrinking pool of candidates for regulators to flag for errant behavior, some industry observers say.