Law and regulation

Financial institutions that hold government debt would be severely affected if Puerto Rico is allowed to restructure its constitutionally-backed debt.

TCF Financial faces a potential lawsuit from the Consumer Financial Protection Bureau over the way the Wayzata, Minn., company charges overdraft fees.

The relevant question is no longer whether new regulations will come for the fast-growing industry, but what form they should take.

WASHINGTON — The financial services sector has been sharing information on cyber threats despite potential legal ramifications, but passage of a cybersecurity bill still winding its way through Congress may put those handshake deals into writing and bolster cyber-defenses.

Federal Reserve Chair Janet Yellen faced tough questions from lawmakers on Wednesday covering a range of issues, including small bank burden, executive compensation, and living wills at a hearing focused solely on banking regulation.

WASHINGTON – The Federal Trade Commission on Wednesday launched a massive sweep against harmful debt collection practices in coordination with other federal, state and local authorities.

House Financial Services Committee Chairman Jeb Hensarling, R-Texas, is attempting to add 15 different bills to legislation that would secure funding for transportation projects.

The Treasury Department is still struggling to understand whether some businesses are losing access to the banking system because of heightened enforcement of anti-money laundering requirements and concerns about high risk activities, a top official said Wednesday.

Nationstar will provide servicing-released option for fledging Chicago's MPF Government MPF program.

Deutsche Bank agreed to pay $258 million to the Federal Reserve and New York’s Department of Financial Services, and to fire six employees, to resolve a probe into sanctions violations from 1999 to 2006 for allegedly handling transactions linked to Iran, Libya, Syria, Burma and Sudan.

WASHINGTON — The House Financial Services Committee approved a series of bills Wednesday morning that would remove a key Dodd-Frank provision and amend the structure of the Financial Stability Oversight Council.

A lack of access to financial services, particularly the inability to transfer funds overseas, can prevent lifesaving work from being carried out and has touched the refugee crisis in Europe, where many aid groups are delivering assistance.

The number of startup companies opting out of the State of New York — more than a dozen — since the financial services department's BitLicense regulation was finalized is troublesome.

The Consumer Financial Protection Bureau announced Tuesday that it had revised the process by which companies can appeal a supervisory action.

The Federal Financial Institutions Examination Council issued a joint statement Tuesday advising financial institutions to take steps to defend against cyber-ransom attacks.

Banking regulators have been coy about whether they approve serving marijuana businesses, but lately one regional Fed bank has taken a strong position against the practice. But there are nearly three dozen Fed-supervised banks serving pot companies — one of many seeming inconsistencies in an opaque and confusing regulatory policy.

WASHINGTON — The House Financial Services Committee debated a bill Tuesday to remove a key Dodd-Frank Act size test that subjects any bank with over $50 billion in assets to heightened rules.

Fees charged to military banks under Department of Defense agreements are forcing branches to close, removing a key resource for troops and families.

First Horizon National in Memphis, Tenn., will record an $11.6 million expense in the third quarter, after an arbitration panel officially ruled against it in a securities-related dispute with First United Corp. in Oakland, Md.

Google, Amazon, Apple, PayPal and Intuit have joined forces to promote policies they say will foster greater innovation in financial services.