Policy & Regulation

The payments pioneer is transforming its merchant cash advance into a business loan, a move that has significant legal and regulatory implications.

Scammers pocketed $3.8 million from troubled homeowners nationwide and did nothing to modify their loans, according to the special inspector general for the Troubled Asset Relief Program.

The DC District Court handed the insurance giant MetLife a big upset win when it struck down the Financial Stability Oversight Council’s decision to apply a systemically risky label to the firm, but with few other firms facing similar designation, the practical impact of the ruling is uncertain.

Former Oklahoma governor and American Bankers Association chief Frank Keating has been named a director of BancFirst in Oklahoma City.

Model legislation in the works would give state legislatures a template for regulating virtual currency businesses. The Treasury is lobbying against clear exemptions for firms that don't control customer funds.

Bankers are fighting back against a plan that would allow Fannie Mae and Freddie Mac to invest in low-income housing tax credits, arguing they are critical for meeting Community Reinvestment Act requirements.

Model legislation in the works would give state legislatures a template for regulating virtual currency businesses. The Treasury is lobbying against clear exemptions for firms that don't control customer funds.

The DC District Court on Wednesday ruled against the Financial Stability Oversight Council's designation of the insurance giant MetLife as a systemically risky nonbank, though the opinion behind the order was sealed and the reasoning behind the decision remains unclear.

MetLife beat back a U.S. attempt to label it too big to fail, which would've put America's biggest life insurer under tougher government scrutiny and forced it to put more money in reserves.

Wells Fargo has agreed to pay the state of California $8.5 million to settle a probe into its failure to tell consumers it was recording their calls.