Policy & Regulation

Iceland's Supreme Court ordered Valitor hf, the Icelandic partner of MasterCard Inc. and Visa Inc., to process card payments for anti-secrecy website WikiLeaks within 15 days or face daily penalties.

Capital One agreed to pay $3.5 million to resolve U.S. regulatory claims the bank set aside inadequate reserves for auto loan losses in 2007.

A consumer watchdog group in Canada is speaking out in support of the major card brands in response to an argument brought by the country's Competition Bureau on behalf of retailers.

Sens. David Vitter and Sherrod Brown are courting a key constituency — small banks — that they hope can help build support for their legislation to tackle "too big to fail."

Promontory Financial Group has hired Linda Gallagher, the head of KPMG's financial services regulatory department, as head of its consumer protection practice.

The central bank is facing criticism from consumer advocates over its failure to sign onto a plan by other banking agencies that would put tight restrictions on the loans.

The debate continued Tuesday on how to resolve the issue of "too big to fail" between banking analysts, former regulators, lawmakers, banking industry representatives and top academics.

Rep. Michael McCaul, R-Tex., said Wednesday he plans to introduce a bill that would clarify the Department of Homeland Security's role in receiving information about cyber threats from companies.

Sens. Sherrod Brown, D-Ohio, and David Vitter, R-La., released their much anticipated capital standards bill on Wednesday, designed to address growing concern over whether some institutions are "too big to fail."

Citigroup said it's better-prepared than some rivals to withstand the impact of new anti-bailout rules that could force lenders to sell more debt.