Policy & Regulation

A bipartisan commission, in lieu of a director, would encourage internal deliberation and constrain the CFPB’s ability to make politically motivated or ill-informed decisions.

The law firm BuckleySandler has beefed up its financial services practice with the addition of three heavy-hitting litigators all lured away from Dykema Gossett PLLC.

Barclays is in an awkward situation that will ring familiar to bankers in the U.S. The U.K. bank has been terminating relationships with money transmitters, including several that wire funds to Somalia, a ravaged country that relies heavily on remittances from immigrants in the West. The bank says it's uncomfortable with the risk and expense of serving these businesses in light of recent fines levied against big financial institutions for anti-money laundering lapses. But now it's being accused of starting a humanitarian crisis.

The Senate Banking Committee's Republican chief counsel and deputy staff director, Andrew Olmem, joined the law firm Venable as a partner.

The Consumer Financial Protection Bureau is approaching supervision of debt collectors much like it did with mortgage servicers and auto lenders earlier this year, saying it plans to hold banks responsible for third-party actions.

JPMorgan Chase's leaders on Friday rebuffed questions about the widespread problems in their credit card debt collections operations — and about what they are doing to fix them.

Satirical newspaper The Onion claimed that Federal Reserve Board Chairman Ben Bernanke is a big fan of "Pacific Rim," a movie about giant robots fighting giant monsters.

The CFPB is taking aggressive action against the debt collection industry, emphasizing it plans to hold banks responsible for third-party actions.

Andrew Olmem, a long-time staffer on the Senate Banking Committee, has joined the law firm Venable as a partner.

JPMorgan Chase, reporting a 31% increase in its second-quarter net income driven by investment banking, also reported that its credit-card business is stabilizing.