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Hypur, a startup seeking to help banks serve businesses deemed high compliance risks (e.g. marijuana), has recruited a former Department of Justice lawyer to help build credibility. Its signature product: a payments platform to replace cash transactions.
April 25 -
The Consumer Financial Protection Bureau ordered the New Jersey law firm Pressler and Pressler and a debt buyer to pay $2.5 million for allegedly filing "mass-produced" lawsuits against consumers based on nonexistent debts.
April 25 -
The core problem with the living wills, as with other tools in the Dodd-Frank Act to end too big to fail, is that they are by definition an attempt at predicting future events.
April 25
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The prepaid card industry is ramping up its advocacy efforts on Capitol Hill as the Consumer Financial Protection Bureau readies a final rule targeting such products.
April 25 -
A week after saying they were less than a year away from testing a real-time payments network in the U.S., The Clearing House and FIS have submitted a proposal about the system to the Federal Reserve's Faster Payments Task Force.
April 25 -
Recent prosecutions against lenders accused of usury violations will test the government's use of a law more commonly known in organized crime cases.
April 25
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WASHINGTON Federal regulators are set to release Tuesday a long-awaited proposal to require the biggest banks to retain more liquidity to withstand a prolonged crisis.
April 22 -
The Federal Reserve is giving the public more time to comment on Huntington Bancshares' agreement to buy FirstMerit in Akron, Ohio.
April 22 -
Senate appropriators approved $13 million in new funding to update the Federal Housing Administration's "outdated and unautomated" information technology systems, but rejected President Obama's proposed way of paying for it.
April 22 -
Bankers blamed regulators' new methodologies for rating certain energy loans and a new two-stage shared national credit review process for an increase in downgrades and loan-loss provisions. Regulators reportedly are reacting to an increase in second liens tied to exploration and production companies.
April 22
