Policy & Regulation

With financial institutions worried the Consumer Financial Protection Bureau will hinder business innovation, the agency on Wednesday argued that one of its mandates is the exact opposite.

The New York Democrat, a senior member of the Senate Banking Committee, has secured his role as vice chair of the Democratic conference and chair of the Senate Democratic Policy and Communications Center for another term.

Community bankers are fighting a battle along two fronts: working to get the Transaction Account Guarantee program extended, and looking for new sources of liquidity in case the program ends.

WASHINGTON — The Federal Deposit Insurance Corp. on Wednesday announced an April 2014 closing date for its Jacksonville, Fla., office established during the financial crisis to handle elevated failures.

Chase Card Services eliminated the expiration for the cash back rewards that it offers on five credit cards it markets to members of the U.S. military.

The Clearing House Association launched an ambitious war-game scenario last week to determine whether the FDIC could successfully resolve the failure of a large banking company.

The Durbin Amendment has made debit card transactions more transparent, increased marketplace competitiveness and reduced prices. Now Congress needs to focus on credit cards.

With President Obama re-elected and Senate Democrats in the legislative driver's seat, the Dodd-Frank Act is here to stay.

Consumers who travel with debit or credit cards have no obligation to report their bank account balances or the size of their credit lines. Certainly those who rely on prepaid cards to access financial services should be entitled to the same rights.

The news that the CFPB's Deputy Director Raj Date will be leaving the agency has provoked anxiety in banking circles. Despite objections to the new agency, many have appreciated his expertise and deep understanding of the industry.