Policy & Regulation

The widely repeated narrative about AIG ignores or downplays a critical aspect of its downfall—the insurer’s securities lending program run for the benefit of its regulated life insurance subsidiaries.

The Supreme Court told a lower court to take another look at a ruling that let the National Credit Union Administration sue a group of banks for allegedly deceiving investors about mortgage-backed securities.

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."