Policy & Regulation

MasterCard continues to ride the plastic wave in worldwide payments. The Purchase, N.Y., company on Jan. 31 reported fourth-quarter net income of $605 million, driven in large part by growing use of its credit and debit cards outside of the United States.

Elizabeth Warren, the new senator from Massachusetts and the CFPB's founder, is uniquely positioned to cut a deal on the agency's structure, a move that could pave the way to confirm Richard Cordray as head of the agency and remove legal uncertainty surrounding its powers.

The Merchant Advisory Group is calling for a shift in deadlines for EMV acceptance in the U.S. — one extra month for every month the payments industry fails to find a common code for handling EMV debit transactions.

The Consumer Financial Protection Bureau has named Steve Antonakes as acting deputy director following the departure of Raj Date from that position on Thursday.

The Consumer Financial Protection Bureau said Thursday it has launched an inquiry into a wide range of banking products offered at college campuses.

The nomination of attorney Mary Jo White as SEC chairman and renomination of Richard Cordray as CFPB director indicate the White House's stance on key banking issues will create new challenges for financial institutions.

The biggest expansion of the banking rulebook is still on the horizon. The changes could lead to an overhaul of banking business models.

The Federal Trade Commission determined that banks and other creditors bear responsibility for selling consumer debts to collectors that are backed by scant documentation.

ACI Worldwide and Fidelity National Information Services each announced acquisitions of companies that provide payments technology.

MasterCard Inc., the second-biggest U.S. payments network, posted fourth-quarter profit that beat analysts’ estimates as customers made more purchases.