Law and regulation

WASHINGTON — The spotlight on massive credit card breaches at retailers has again prompted lawmakers to consider data security reform, but whether a bill will actually move through Congress is still a huge question mark.

Large international money transmitters would have to follow the same federal remittance rules that apply to banks under a Consumer Financial Protection Bureau proposal released today.

A new Consumer Financial Protection Bureau proposal would put large nonbank money transmitters on more equal footing with banks and credit unions required to follow federal remittance rules.

Farmers Capital Bank (FFKT) in Frankfort, Ky., is one step closer to being freed from a regulatory order.

The Target and Neiman Marcus breaches have reignited data security as an issue on Capitol Hill, but many hurdles still stand in the way of legislation.

The U.S. Treasury Department will offer $15 billion in its first auction of floating-rate notes next week, trying to capitalize on robust investor demand for the safest short-term investments.

Regulators are starting to scrutinize Warren Buffett's Berkshire Hathaway to determine whether it is important enough to the financial system to require Federal Reserve supervision, according to two people with knowledge of the matter.

Financial institutions that can figure out how to couple an efficient and optimized loan process with personalized service will win in the future.

Mary Miller, Under Secretary for Domestic Finance, said regulators must standardize how institutions report the data meant to help officials gauge systemic risks.

The U.S. government needs more time to assess the Bitcoin "phenomenon" to ensure the virtual currency isn't used for unlawful purposes, Treasury Secretary Jacob J. Lew said.

First Financial Bancorp (FFBC) in Cincinnati warned that it will take a hit to fourth-quarter earnings because of a $22.4 million valuation adjustment to its indemnification asset from the Federal Deposit Insurance Corp.

Market participants should weigh in on Basel’s latest consultative document in order to strengthen safety and soundness in growing global securitization markets.

Bank deposit advances, which strongly resemble payday loans, have been facing extinction since coming into the crosshairs of federal banking regulators.

Regulators acted last week to try to ease the pain for community banks that hold complex securities covered by the Volcker Rule. But for some institutions, the fix either came too late or didn't help at all. Following are banks that were expected to take a loss as a result of the Volcker Rule.

The investigation's nickname is "Operation Choke Point," and that seems appropriate, because a noose appears to be tightening around the necks of banks that have ties to online payday lenders.

WASHINGTON -- Rep. Scott Garrett, R-N.J., a senior member of the House Financial Services Committee, is preparing to unveil legislation designed to increase public awareness of the Federal Reserve Board's rule-writing process.

South Korea's biggest theft of personal information on credit-card holders prompted dozens of top executives at financial firms including KB Financial Group Inc. to offer to quit this week as a regulatory probe widened.

The Federal Deposit Insurance Corp. filed a lawsuit Friday in U.S. District Court in Colorado against nine former executives and directors at United Western Bank, which failed in 2011.

Something resembling deposit insurance for virtual currencies may still be in the distant future. But a growing array of startups is attempting to offer Bitcoin users a similar layer of security to that enjoyed by bank depositors.

While it is easy to vilify Target for its recent data breach, the card networks' refusal to take on real card security makes the retailer a victim along with consumers.