Law and regulation

A new Jack Henry program can speed EMV-chip card migration for card issuers by up to a year — but only for credit cards, since ongoing legal issues hamper the use of EMV for debit cards.

The Justice Department has subpoenaed documents from what was Wall Street's largest mortgage due-diligence firm as it ratchets up an investigation into bank actions in the years before the financial crisis.

The Federal Reserve Board has released Raton Capital in Raton, N.M., from an enforcement action.

Merchants will be better off with a multibillion-dollar price-fixing settlement with Visa Inc. and MasterCard Inc. over swipe fees than they would be if they went to trial, a court appointed expert said.

Bank regulators, enforcement authorities and legislatures in key countries will have to work together to enforce Basel's well-meaning guidelines related to money-laundering and terrorism financing.

The banking industry earned a record profit for the second straight quarter as growth in noninterest income continued to make up for a slow recovery in the lending sector, the Federal Deposit Insurance Corp. said Thursday.

Incremental gains in women's progress are no longer a sufficient substitute for meaningful change.

The Financial Crimes Enforcement Network, by hosting the Bitcoin Foundation in Washington D.C. this week, demonstrated its commitment to learning more about the disruptive virtual currency.

Virtual currency operators in Idaho are subject to state money transmission laws if they service Idaho residents, according to a letter from Jim Burns, investigations chief at the Idaho Department of Finance.

Unity disclosed in a regulatory filing Wednesday that it paid the Treasury Department $2.7 million to repurchase a warrant to buy about 765,000 shares of common stock.

At least nine lenders have halted operations in the three weeks since state regulators began pressuring banks to cut off their access to the payments system.

Six federal agencies have re-issued their proposal for defining "qualified residential mortgages" that avoid risk retention, which is more to the industry's liking than a 2011 plan. But a much tougher alternative is still drawing attention.

The U.S. Federal Reserve’s rules for debit-card transaction fees and processing should remain in place while the central bank appeals a decision throwing out the regulations, according to retailers who oppose the new directives.

The Federal Reserve Board and merchants filed separate motions in favor of a stay that would allow the agency's current interchange rule to continue standing temporarily while the issue is decided in court.

The Senate Permanent Subcommittee on Investigations asked energy-market regulators to hand over "key documents" from a probe of JPMorgan Chase & Co. as lawmakers examine banks' roles in commodities markets.

The Consumer Financial Protection Bureau has created an online guide to help the roughly 25% of U.S. public service workers eliminate their student loans.

The federal income tax exemption benefits credit union members and bank customers as credit unions provide a check on banks through their competitive rates and fees.

Greenlining Institute, a nonprofit research and policy group that advocates for racial and economic justice in the U.S., has joined a chorus of liberal voices calling for the appointment of Janet Yellen as the next chair of the Federal Reserve Board.

The six biggest U.S. banks, led by JPMorgan Chase and Bank of America, have piled up $103 billion in legal costs since the financial crisis, more than all dividends paid to shareholders in the past five years.

The strength of America's financial system is a result of the diversity of its players, but that diversity won’t survive if our nation continues down the path of one-size-fits-all regulatory reform.