Law and regulation

Payday lenders on Wednesday pushed back against Google's plan to ban payday loan advertisements, arguing it was discriminatory and "a form of censorship."

WASHINGTON — House Republicans will likely unveil legislation within the next few weeks aimed at curbing Consumer Financial Protection Bureau regulations by giving the bureau a dual mandate, Rep. Steve Stivers said Wednesday.

A day before a top Federal Deposit Insurance Corp. official is set to testify about recent cybersecurity breaches, a leaked report shows the agency's troubles are more prevalent than previously known.

Ideas on the table for ending the too-big-to-fail problem won't work, so the only solution is a "leverage" ratio and continuous exams to ensure big banks never get in trouble in the first place.

Google said Wednesday it will ban ads for payday loans to protect its customers from what it considers deceptive and harmful financial products. The ban goes into effect on July 13.

In the latest salvo in a long-running feud over the costs of processing payments, Wal-Mart sued Visa's U.S. unit on Tuesday, saying the company wants the retailer to use a less-secure method for verifying debit cards in order to route transactions through its own networks to boost profits.

Officials from the Federal Reserve Bank of New York, Bangladesh Bank and payments network Swift vowed Tuesday to catch the thieves who took $81 million out of the Bangladesh central bank's account at the New York Fed.

Industry representatives swiftly rejected the Treasury Department's assertion that new legislation is needed to protect small-business owners.

If alternative small-business lenders don't get engaged in the regulatory dialogue, they risk letting a few bad apples determine their fate.

Daniel Schrider, chief executive of Sandy Spring Bancorp in Olney, Md., discusses a controversial change to loan-loss accounting rules — known as the Current Expected Credit Loss standard, or CECL — and why it will be a burden for community banks.