Policy & Regulation

The city of Richmond, Calif., wants to team up with another municipality to implement its plan to use eminent domain to seize underwater mortgages. There have been no takers to date. The likely reasons are the FHFA and the continuing threat of litigation.

Discover Financial Services agreed with regulators to bolster its payment systems against money launderers. No financial penalty was imposed.

The Delaware bank, which issues cards for a wide swath of the prepaid industry, will have to curtail its growth as part of an agreement with the FDIC.

GreenStar Payment Solutions, a venture of SinglePoint, Advanced Content Services and GreenHouse Payment Solutions, is offering debit card acceptance to legal marijuana dispensaries through the use of cashless ATMs.

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The state of California is seeking a 12-month license suspension for CashCall, a high-cost lender that's come under fire in numerous other states.

The Delaware bank, which issues cards for a wide swath of the prepaid industry, will have to curtail its growth as part of an agreement with the FDIC.

Pushback by the Securities and Exchange Commission is complicating a regulatory effort to investigate whether large asset managers should be labeled "systemically risky."

WASHINGTON — A bank subsidiary should be able to claim tax refunds resulting from the institution's losses even if its tax returns are filed by the holding company, the federal bank regulators said in guidance issued Friday.

Sen. Sherrod Brown, D-Ohio, is pressing the Securities and Exchange Commission to revoke certain privileges from banks when they are involved in settlements or enforcement actions for illegal activity.