Law and regulation

Heather Cox says Citi cherry-picks the best of fintech apps for its own services; FemTech leaders ponder what Brexit means for fintech; and SEC chair Mary Jo White takes on board diversity. Plus, Synovus' Liz Dukes Wolverton and Synchrony's Carol Juel.

Banks, credit card companies and other financial firms are strategizing ways to stave off higher legal bills they expect from the Consumer Financial Protection Bureau’s proposal to limit the use of arbitration clauses, which is likely to open the floodgates to class action lawsuits.

The Consumer Financial Protection Bureau has difficulties supervising its government travel card program and has reimbursed some employees for lodging and meals while not on official travel, a watchdog said Thursday.

IBM has joined the Chamber of Digital Commerce, the Washington, D.C.-based organization working to help shape the regulatory framework for the blockchain industry.

Attendees at the recent White House fintech summit shined a spotlight on shared innovation challenges. To overcome them and help the U.S. make progress in financial services, we need to embrace these three regulatory reforms.

WASHINGTON — The Federal Deposit Insurance Corp. has improved its information security processes, but more changes need to be made, the Government Accountability Office said in a report published Wednesday.

BancorpSouth Bank agreed Wednesday to a $10.6 million settlement with the Consumer Financial Protection Bureau and the Justice Department for allegedly discriminatory mortgage lending practices that harmed minorities.

The vast majority of big banks seem to be getting a handle on the costly, labor-intensive and time-consuming stress-testing process. But for a pair of large banking companies, Santander Holdings USA and Deutsche Bank Trust Corp., the stress tests have so far proven to be an unconquerable challenge.

The Little Rock, Ark., bank got the final regulatory approval it needed to buy C&S and C1, but not before agreeing to address some community reinvestment concerns in the Atlanta market and elsewhere.

Sen. Mark Warner D-Va., blasted businessman Donald Trump Wednesday for his promises to be tough on Wall Street.

The Federal Housing Finance Agency is soliciting industry input on how to improve Fannie Mae and Freddie Mac's credit risk transfer transactions, for the first time saying it is considering front-end transactions rather than back-end deals.

The Depository Trust & Clearing Corp.'s Mark Wetjen has joined the board of advisors of the Chamber of Digital Commerce.

Ever since the financial crisis, starting a bank from scratch has been hard. But opening a digital-only de novo bank is an especially tall order.

WASHINGTON -- The Federal Deposit Insurance Corp. is launching a survey this month to collect data on the small business lending practices of insured banks.

The Federal Housing Finance Agency wants mortgage servicers reaching out to delinquent borrowers to be exempt from tough restrictions on robo-calling. But the idea is being panned by consumer groups, who say it would give a free pass to mortgage servicers that have a record of consumer-protection violations.

The Financial Stability Oversight Council announced Wednesday it was rescinding the systemic designation of GE Capital, the first time the interagency body has de-designated a firm.

The U.S. Supreme Court in its upcoming term will hear a fight over automated-teller-machine fees that pits the interests of independent cash machine operators and consumers on one hand against two major card networks and several megabanks on the other.

After the departure of Financial Crimes Enforcement Network's director last month, the future of the Treasury Department unit remains the subject of fierce speculation within the financial services industry.

WASHINGTON — Presumptive Republican Presidential nominee Donald Trump pledged Tuesday to roll back regulations and accused rival Hillary Clinton of being beholden to Wall Street.

The question of whether bitcoin is actually money is at the heart of a case of a man charged with selling $30,000 worth of the virtual currency to an undercover police officer.