Policy & Regulation

Electronic payment companies design, build and operate costly networks that provide secure payment transactions to merchants. Such providers incur significant costs for the services they provide and deserve to charge a market-based rate to their customers.

The House Majority Leader's failure to include mortgage finance reform in his legislative agenda for the fall has sparked more questions about whether Rep. Jeb Hensarling, Patrick McHenry and others can advance his legislation to the floor this year.

The Federal Home Loan Bank system, which has been hurt by successive quarters of low demand for advances, saw its strongest advances growth in nearly six years in the second quarter as banks began to see depositors exit.

The Federal Home Loan Bank of Chicago announced Monday it plans to issue mortgage-backed securities guaranteed by the Government National Mortgage Association, or Ginnie Mae.

JPMorgan Chase said it would stop accepting commissions from Assurant under a settlement reached Friday. The two firms have also agreed to pay up to $300 million to resolve allegations that they overbilled homeowners.

Buttercoin wanted to be a Bitcoin exchange, but after being discouraged or outright rejected by over 76 financial institutions, it chose a different path.

California’s legislature has voted to reform a money-transmission law that has come under fire for stymying payments innovation.

The Federal Deposit Insurance Corp. is selling $2.42 billion of bonds issued by Citigroup in a transaction that will eliminate U.S. government holdings in the bank linked to the 2008 financial crisis.

Reform of housing finance giants Fannie Mae and Freddie Mac gained surprising momentum in recent months. But it's at risk of grinding to a halt as the Capitol Hill is consumed with Syria and the confirmation of a new Federal Reserve chairman. American Banker editors discuss the prospects for GSE legislation amid a packed and contentious legislative agenda.

PNC Financial Services Group has begun winding down Market Street Funding, an asset-backed commercial paper conduit that funds credit for corporate clients.