Law and regulation

A federal jury convicted three former executives at the failed Bank of the Commonwealth in Norfolk, Va., of hiding the bank's bad assets for their own gain.

The CFPB has made fair lending a top priority. To avoid problems, scrutinize the agency’s view of the laws, proactively analyze policies and document the reasons behind your loan decisions.

Because Bitcoin transactions are virtually instant, free and near-anonymous, charitable organizations are collecting and distributing donations in bitcoin.

World Law Group, one of the largest U.S. debt settlement firms, has been ordered to stop collecting upfront fees for its services, North Carolina Attorney General Roy Cooper has announced.

Liberty Reserve SA and seven individuals were indicted in what federal prosecutors in New York called an international money-laundering conspiracy.

Bitcoin has had as much bad publicity as good in recent months. But even its setbacks have served to strengthen the community that supports the fledgling alternative currency.

Visa Inc. and MasterCard Inc. sued trade groups and retailers that rejected a $7.25 billion settlement in a price-fixing suit and asked a court to rule that the card companies' fee practices weren't illegal.

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Ever since Visa (NYSE: V) and MasterCard (MA) struck a $7.25 billion deal last summer to settle a long-running class-action lawsuit with retailers, many of the nation's largest merchants have been trying to wriggle free.

A bipartisan group of senators led by Sen. Bob Corker, R-Tenn., is drafting legislation designed to reform the housing finance system, including a plan to wind down the government-sponsored enterprises.

Unresolved issues surrounding American Airlines’ contract with Citibank, which issues its co-branded frequent flier credit card, threaten to derail the bankrupt airline’s efforts to reorganize and merge with US Airways, according to court documents Citi filed on May 24.

Banks that have been proactive in anticipating the regulatory winds might have little to fear from the rules, but others that have been slow to adapt could be forced to make significant changes that could crimp profits.

A super PAC supporting Sen. David Vitter, R-La., is sponsoring a $5,000-per-person weekend with the lawmaker that includes an alligator hunt.

A recap of the informed opinions (and the discussions they generated) on BankThink this week.

Banks have been blaming one another for recklessly chasing business loans. Data on portfolio yields and growth offers perspective on which ones are being the most aggressive.

Palisades Collection, based in New Jersey, is under review by New York City's Department of Consumer Affairs, which has received 96 complaints against the agency since 2004.

American Banker editors discuss the prospects for reducing the roles of Fannie Mae and Freddie Mac in housing finance and the obstacles a pullback would face.

Talbot Bank in Easton, Md., has signed a consent order with the Federal Deposit Insurance Corp. and its state regulator, effective Friday.

The most challenging and frustrating aspect of the Single Euro Payments Area project, according to a major German acquirer, is its goal of establishing common payment standards throughout Europe.

Bankers Bank Northeast in Glastonbury, Conn., has hired a former Home Loan bank executive to be its next chief.