Policy & Regulation

The Office of the Comptroller of the Currency will be losing one of its top economists at the end of the month, according to an internal agency memo.

Visa Inc., which operates the world's biggest electronic-payments network, was sued by Wal-Mart Stores Inc.'s Asda unit, William Morrison Supermarkets Plc and Arcadia Group Plc over payment-processing fees.

New York financial regulator Benjamin Lawsky is joining the crackdown on the collection industry, proposing new rules that would tighten record-keeping requirements and other collection practices for banks and third-party debt buyers.

The conservator of Fannie Mae and Freddie Mac late Thursday announced an $885 million settlement with UBS Americas of charges that the firm misrepresented the quality of private-label mortgage-backed securities Fannie and Freddie bought during the housing boom.

New York financial regulator Benjamin Lawsky has proposed rules that would require improved record keeping and overhaul other practices at banks and third-party debt collectors.

Sen. Elizabeth Warren has joined the call to bring back a Depression-era law that separated commercial and investment banking, but enactment of her legislative proposal is highly unlikely.

The Federal Reserve Board's yearly stress-test exercise will be broadened next year to include 11 more bank holding companies.

Bankers have been seeking more leeway on loan workouts with recent graduates struggling to make their payments. The federal banking agencies responded Thursday, but not in the way the industry had hoped.

Payroll card provider ADP is updating its technology to provide greater visibility into users' financial health at a time when payroll cards face fresh scrutiny over costs to users.

MasterCard Inc., in a conference call today to discuss the European Commission's proposal to cut card fees paid by retailers, says it supports increasing competition but warns the proposed regulation could have unintended consequences.