Policy & Regulation

A San Diego-based debt collector has agreed to pay $675,000 in civil penalties and give up $18 million won in court fights against 4,500 consumers, New York Attorney General Eric Schneiderman said Friday.

American Banker readers share their views on the most pressing banking topics of the week. Comments are excerpted from reader response sections of AmericanBanker.com articles except when otherwise noted.

The European Commission last month drafted another version of its proposed revision of the Payment Services Directive, known as PSD2 in Europe, with a goal of enacting a wider regulation of payments and interchange fees that reflects modern technology, security threats and stakeholders in payments.

OneWest Chief Executive Officer Joseph Otting sent an e-mail to his contacts on Wall Street this week asking for help to discourage bank overseers from holding public hearings on its $3.4 billion takeover by CIT Group.

Gov. Scott Walker of Wisconsin addressed speculation about a possible presidential bid during a speech to the Wisconsin Bankers Association.

The Senate approved legislation Thursday to reauthorize the Terrorism Risk Insurance Act, sending it to President Obama's desk after a months-long battle.

Revolving consumer credit in the U.S. fell in November by the largest amount in a year, according to a report Thursday from the Federal Reserve Board.

Housing and Urban Development Secretary Julian Castro moved swiftly on Thursday to defend pending cuts to the Federal Housing Administration's premiums, rebutting GOP arguments they are premature.

Allan Landon, the White House's pick to fill a vacancy on the Federal Reserve Board, likely faces some challenges ahead during the nomination process, including skepticism over whether he's really a community banker and about a particular transaction a decade ago.

Sen. Richard Shelby, R-Ala., was formally named Banking Committee chairman Thursday, returning to the post he held in the last GOP-controlled Senate.