Policy & Regulation

Merchant and banking groups are again at odds over cybersecurity policy, sparring over who’s to blame for recent data breaches and how lawmakers can ensure greater protections.

Kelly King of BB&T is an M&A trailblazer, but he isn't doing so intentionally. In announcing plans to buy Susquehanna Bancshares, King said he believes more bankers are becoming more confident maneuvering the choppy regulatory environment.

The company cited uncertainties with industrywide litigation and the regulatory environment in the move. In August, a New York regulator questioned its purchase of the unit from an affiliated company.

The Federal Trade Commission has ordered two debt sellers—St. Petersburg Florida's Bayview Solutions, LLC and Riverside, California's Cornerstone and Company, LLC — to notify customers about alleged disclosures of their personal information.

The Office of the Comptroller of the Currency said Wednesday that Citigroup, Bank of America and JPMorgan Chase would pay a combined $950 million to settle accusations they manipulated foreign exchange trading.

Many foreign banks are confused about how the Volcker Rule applies to them and whether they are required to establish compliance programs for it in the first place.

Third-party vendors will receive a lot more security scrutiny under new Payment Card Industry security requirements taking hold next year, if merchants are vigilant in following the new compliance guidelines.

WASHINGTON — Unions and left-leaning public interest groups will meet personally with Federal Reserve Board Chair Janet Yellen on Friday to ask for greater transparency at the agency, including in its selection of new regional bank heads.

While the Federal Deposit Insurance Corp.'s reporting of growing use of prepaid products among the underserved stokes concerns about high costs, some note they can be a bridge to more traditional accounts.

Financial industry groups are planning to call on the Treasury Department and other financial regulators this week to provide more transparency to the process for designating a nonbank as a potential threat to the economy.