Policy & Regulation

Discover Financial Services is facing a new lawsuit over the marketing of its payment protection and other fee-based credit card products — this time from one of its own shareholders.

Lawsuits against collection agencies and creditors rose across the board in the latest half-month period. FDCPA lawsuits continue to lag behind last year's pace.

The vice president warned voters that the Republican presidential candidate wants to "let the big banks write their own rules again."

Restoring Glass-Steagall would be a palliative just like the Volcker rule: simple to say, hard to do. Even under the 1933 law, financial innovators blurred the lines between commercial and investment banking — almost from the very start.

Restoring Glass-Steagall would be "a palliative just like the Volcker rule: simple to say, hard to do," says consultant Allan Grody. Even under the 1933 law, he notes, financial innovators blurred the lines between commercial and investment banking - almost from the very start. The following are examples Grody cites in his forthcoming book Reengineering the Financial Corporation.Pictured: Sen. Carter Glass and Rep. Henry Steagall.

Last month, in its enforcement action against Capital One, the Consumer Financial Protection Bureau collected the first money going into the Civil Penalty Fund.

Pundits often criticize prepaid card providers for having high monthly fees, but the real market pressure is on the fees charged for ATM access. As it turns out, prepaid card users very much want to keep using cash — but they don't want to pay to get it.

Swiss banks are turning over thousands of employee names to U.S. authorities as they seek leniency for their alleged role in helping American clients evade taxes.

Standard Chartered was sued by victims of the 1983 Iran-sponsored terrorist bombing of U.S. Marine barracks in Lebanon over allegations the bank conspired with Iran to hide assets and evade a $2.7 billion default judgment.

The agency is working on a policy statement that would provide big banks and Republican critics of the FDIC's authority with more detail about how systemically important financial companies would be unwound.