Opinions

Citibank has joined a growing list of banks and vendors that have paid a stiff penalty for allegedly using deceptive marketing and billing tactics in selling credit card add-on products. It agreed to pay $770 million in fines and restitution charges, falling just short of a record fine issued last year.

Citibank has joined a growing list of banks and vendors that have paid a stiff penalty for allegedly using deceptive marketing and billing tactics in selling credit card add-on products. It agreed to pay $770 million in fines and restitution charges, falling just short of a record fine issued last year.

Key proponents and critics of the 2010 financial reform law commemorated its anniversary by keeping the debate over its legacy front and center.

Rolling back unnecessarily burdensome and costly regulations is the only way to ensure credit unions’ survival. To that end, lawmakers should pass a bill that would give credit unions relief from annual privacy notice requirements and grant safe harbor qualified-mortgage status for certain loans held in their portfolios.

The new regulations are meant to close loopholes in an interest rate cap that applies to active-duty soldiers and sailors. But financial institutions won at least one important concession.

Porter Bancorp in Louisville, Ky., has agreed to pay $1.1 million to settle a lawsuit alleging mismanagement of a former client's employee stock ownership plan.

The Federal Reserve Board issued an enforcement action against one of the biggest banks in China on Tuesday, ordering its New York branch to undergo broad restructuring of its anti-money-laundering compliance program.

Citigroup is facing $770 million in charges after two federal regulators said the megabank engaged in deceptive marketing and unfair billing practices related to its credit card add-on products.

Citigroup is facing $770 million in charges after two federal regulators said the megabank engaged in deceptive marketing and unfair billing practices related to its credit card add-on products.

On the five-year anniversary of Dodd-Frank, it's time to increase accountability and transparency at the CFPB. Congress should start by passing a bill that would overhaul the agency's organizational structure from a single-director model to a bipartisan, five-person commission appointed by each incoming president.