Policy & Regulation

WASHINGTON — Prudential Financial Inc. became the third nonbank firm on Thursday to be designated as a risk to the financial system by a group of regulators.

In an agreement hailed by consumer advocates, JPMorgan Chase consented to a major overhaul of its debt collection and debt sale practices.

The Boston City Council unanimously passed a bill Wednesday aimed at improving banking practices in low- and moderate-income neighborhoods.

The various orders, fines and acknowledgements of guilt made by JPMorgan Chase on Thursday over the London Whale and other issues will have enormous implications for the rest of the industry. Here's why.

Midsize players will seek to increase geographic coverage, acquire deposits with little-to-no premium and attract clients away from their competition through mergers and acquisitions.

Just hours after agreeing to pay $910 million in regulatory fines related to the London Whale trading scandal, JPMorgan Chase agreed Thursday to repay $309 million in restitution to customers harmed by its credit card practices as well as face an additional $80 million more in civil money penalties.

New York state regulators have proposed a sweeping set of rules to reform the force-placed insurance industry, in the latest sign that the government is taking steps to correct what critics call an abusive industry practice that overcharges homeowners.

Just hours after agreeing to pay $910 million in regulatory fines related to the London Whale trading scandal, JPMorgan Chase agreed Thursday to repay $309 million in restitution to customers harmed by its credit card practices as well as face an additional $80 million more in civil money penalties.

Just hours after agreeing to pay $910 million in regulatory fines related to the London Whale trading scandal, JPMorgan Chase agreed to repay $309 million in restitution to customers harmed by its credit card practices as well as face an additional $80 million more in civil money penalties.

Sevier County Bank in Tennessee decided its loyal customers are its best promotion and created an interactive blog about their experiences with the bank, including the story of one woman who goes 20 miles out of her way to keep banking there.