Law and regulation

U.S. regulators released individual plans on Thursday detailing how 11 of the largest financial institutions plan to wind themselves down in the event of a failure.

The West Virginia Supreme Court on Tuesday debated a subpoena and temporary injunction issued against debt buyer Cavalry Portfolio Services.

Consumer advocates pressed the Consumer Financial Protection Bureau on Wednesday to crack down harder on credit card issuers despite recent regulations that largely curtailed hidden fees and predatory practices.

According to a report released Wednesday by the Consumer Financial Protection Bureau, banks and other credit card issuers are charging less in penalties and are doing better at disclosing previously hidden fees.

The operator of the "Silk Road Hidden Website" was charged with running a "sprawling black-market bazaar" where anonymous users paid Bitcoin digital currency for illegal drugs and phony identification documents.

Federal Reserve Board Chairman Ben Bernanke said Wednesday that U.S. regulators don't want to harm community bankers still ailing from the financial crisis.

Bank buyers should run potential deals by regulators early to avoid "landmines" and speed applications, officials from the Office of the Comptroller of the Currency say. Proper due diligence, succession planning and risk management are among the things they look for.

U.S. regulators and law enforcement officials expect risk-based anti-laundering and sanctions programs — no small feat for digital-currency firms, which generally do not know their customers' counterparties.

The top executives from Goldman Sachs and Bank of America Corp. on Wednesday warned of "serious repercussions" if the U.S. government breaches the debt ceiling without a political solution.

New York Attorney General Eric Schneiderman plans to sue Wells Fargo (WFC) for violating the 2012 National Mortgage Settlement and has reached an agreement with Bank of America (BAC) to comply with several new mortgage servicing standards.

Credit card issuers are charging less in penalties and doing a better job of disclosing previously hidden fees, according to a report by the Consumer Financial Protection Bureau.

The Dodd-Frank stress testing requirements for midsize banks add to their already considerable compliance burden, with questionable payback in terms of better risk management, at least in the near term.

Capital One (COF) will pay nearly $3 million to settle discrimination charges against a bank it bought four years ago.

WASHINGTON — Banks and other credit card issuers are charging less in penalties and doing a better job of disclosing previously hidden fees, according to a report due out Wednesday by the Consumer Financial Protection Bureau.

A former executive at a Norfolk, Va., bank has been sentenced to eight years in federal prison for his role in the fraud that led to the bank's collapse.

Several political candidates have begun accepting bitcoins for campaign contribution—but the future of this practice hinges on a Federal Election Commission decision coming by October 28.

Credit card issuers are charging less in penalties and disclosing previously hidden fees, but the CFPB still has concerns about deceptive add-on products and deferred interest rate specials.

The $18 billion-asset company said late Tuesday it has acquired certain assets and liabilities from Surety Financial Services in Sherman Oaks, Calif. The companies did not disclose the terms or specify the assets that were transferred.

The $2 billion-asset company said Tuesday that it had fully redeemed the $20.5 million in preferred shares issued through the program. Park Sterling funded the redemption with a payment from its bank.

Although American Banker's Editor-at-Large Barbara Rehm believes the implementation of Dodd-Frank is taking too long, enough people have told her otherwise, so she presents our readers with the counter-argument.