Law and regulation

Zomato hasn't been able to add payment capabilities to its restaurant discovery app in its home base of India, but the company has found a more welcoming audience in Dubai, where it plans a pilot next month.

After nearly two years, the Justice Department so far has accused just one bank of facilitating consumer fraud. And the aftermath of that case suggests that prosecutors' strategy is not as effective as they hoped it would be.

WASHINGTON — The House passed a bill Tuesday to study the effects of a Federal Reserve Board rule restricting the number of transactions customers can make with their savings accounts each month.

The Federal Reserve Board announced Tuesday it will hold a meeting Dec. 9 to discuss a proposed capital surcharge for the country’s largest banks.

The comptroller of the currency said regulators will act before the end of a mandated review of potentially outdated rules "when a solid case has been made for reform."

Excessive risk-taking amid low interest rates and the migration of financial transactions away from the heavily egulated banking sector have combined to make the system even riskier in 2014 than a year ago, according to a report released Tuesday by the Office of Financial Research.

Nonbank mortgage servicers are already in the crosshairs of regulators. Now they will face even more scrutiny from Fannie Mae and Freddie Mac.

Swift's initial move into faster domestic payments in Australia sets the groundwork for expansion into other markets, including the U.S.

WASHINGTON — Federal regulators on Tuesday released the latest guidebook for examiners to use in assessing banks' anti-money-laundering programs.

A new study suggests that most consumers only waive their right to sue companies in court and participate in class actions because they don't understand the contracts they're signing.

The House approved a bill late Monday that would set up a framework for large failing banks to go through the bankruptcy process.

Sen. Elizabeth Warren recently told New York Federal Reserve President William Dudley to man up on bank enforcement, warning him that if he won't, "we need to get someone who will."

Mandatory retirement ages and term limits can backfire by forcing out board members with badly needed skills. It's better for boards to take the necessary, though socially uncomfortable, step of convincing underperforming directors to leave.

Bitcoin wallet providers have had a touchy relationship with prepaid cards. But whether or not these companies care about plastic, they should care about how the Consumer Financial Protection Bureau's prepaid proposal affects them.

The Independent Community Bankers of America is urging the House to include in its terrorism risk insurance bill an unrelated amendment requiring community-banking expertise on the Federal Reserve Board.

Republican lawmakers will head the banking committees in both chambers next year – raising the prospects for deals on key legislation – but getting to the negotiating table is still the biggest hurdle for the next Congress.

The Justice Department and the Consumer Financial Protection Bureau are alleging that Toyota Motor Credit engaged in practices that resulted in discriminatory pricing of loans, according to a securities filing by the company.

The Federal Reserve was comfortable as a behind-the-scenes regulator, but it’s now expected to be a public enforcer as well. Asking the agency to balance these contradictory roles is a recipe for trouble.

Sheila Bair, a former chairman of the Federal Deposit Insurance Corp., has agreed to serve as a senior adviser to the law firm DLA Piper, focusing on its international practice, according to a memo obtained by American Banker.

Richmond Fed President Jeffrey Lacker discusses why he distrusts a government-run system for unwinding banks, how community banks could thrive in the future, and why policymakers should consider better distinguishing between the biggest institutions and mid-size firms.