Opinions

The American Bankers Association promoted five staff members of its executive staff.

Two members of the House Financial Services Committee members, Reps. Michael Grimm and Stephen Fincher, are hosting a fundraising party on Tuesday to celebrate their birthdays.

Banks have faced onslaughts of litigation for several years over their credit card payment protection plans. But so far legal efforts to challenge or change the business have ended in dismissals or relatively small settlements.

Banks have been accused of ripping off consumers for insurance-like credit card products. Now critics who say the payment protection plans are a racket could get a boost from federal regulators.

Minnesota has suspended the collection license of Accretive Health Inc., a Chicago-based company that lost a laptop computer containing medical records for thousands of patients at two Minnesota hospital systems last summer.

California has returned to talks after a four-month absence to possibly take part in a multi-state deal with the nation's largest mortgage servicers over faulty foreclosure practices, the New York Times and Los Angeles Times reported Monday.

WASHINGTON — The White House late Friday named former Treasury Department official Jeremiah Norton to the remaining seat on the Federal Deposit Insurance Corp. board of directors.

The Durbin amendment has sapped debit card revenue, but swipe fees are contributing a growing share of earnings at large credit card businesses.

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Regulators, particularly the OCC, are hitting banks with consent orders for erroneous accounting for troubled-debt restructurings. The issue, based on new FASB standards, is becoming a catalyst for higher loan-loss provisions and lower profit.