Law and regulation

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.

The Treasury Department on Tuesday capped off a nearly yearlong inquiry into the burgeoning marketplace lending industry with a policy paper that recommends increased transparency and customer protections while also highlighting the sector's potential for expanding credit access.

It is imperative for regulators and lawmakers to approach the online small business loan market with care and an understanding of how these lenders expand access to credit.

State officials in California have asked top online lending firms a series of probing questions regarding their compliance with laws and regulations dealing with referral fees, bank partnerships, fair lending and other sensitive issues.

Hillary Clinton's campaign went on the offensive Monday against presumptive Republican nominee Donald Trump's financial policy positions, arguing he would put the system at risk if elected president.

The Consumer Mortgage Coalition is arguing that the bill has serious flaws by allowing private insurers to undercut pricing on federal flood insurance policies by offering high deductibles and exclusions to homeowners with mortgages guaranteed by the government-sponsored enterprises.

Fed up with the hassles of applying for a multitude of state licenses and relying on bank partners, fintech firms are increasingly interested in applying for a national bank charter — and federal regulators are considering ways to accommodate them.

The Federal Reserve deserves praise for a proposal that would strengthen financial stability by eliminating the rights of counterparties to tear up derivatives contracts in a failure.

The Federal Deposit Insurance Corp.’s request for input on mobile financial services allows banks to promote how their mobile app helps the underserved, which is a plus when seeking merger approval.

Every year, millions of students borrow federal loans to cover college expenses. For many, this money is crucial for more than just tuition. It helps these students stay in school by paying for food, rent, transportation and other living costs. But lately, this money has also become the lifeblood for predatory card vendors that gobble up funds with unnecessary, exploitative and hidden fees.

Pennsylvania state regulators on Friday closed the $103.3 million-asset First CornerStone Bank in King of Prussia, the third institution to fail this year.

At least three large U.S. banks are preparing to go to market with new small-dollar installment loan products in a move that could potentially disrupt the payday lending industry.