Policy & Regulation

The National Credit Union Administration announced Saturday morning the completion of its liquidation of WesCorp FCU, marking the end of the most costly failure in credit union history.

The Georgia Department of Banking and Finance closed Montgomery Bank & Trust in Ailey on Friday. Ameris Bank in Moultrie, Ga., agreed to assume all of the bank's $164.4 million in deposits.

A new congressional report provides a comprehensive look into how Countrywide used its VIP program to win friends in Washington.

We know all about the "Friends of Angelo," those political insiders who got sweetheart mortgages from Countrywide. But what about the poor schlubs who aren't worth former Countrywide CEO Angelo Mozilo's affection? Well, they finally have a leader.

The acting chairman of the Federal Deposit Insurance Corp. said it is "difficult at this time to anticipate the consequences" of the possible expiration of the Transaction Account Guarantee program at the end of the year because of the uncertain economic climate.

Georgia regulators have ordered an Atlanta-area business to stop calling itself a credit union.

Sen. Jon Tester, who led the charge on Capitol Hill to delay interchange fee reform, is receiving a reelection assist from Pearl Jam, the grunge band fronted by Eddie Vedder.

The House Financial Services Committee is holding two Dodd-Frank related hearings next week as part of Republican members’ agenda to eventually repeal the legislation, according to The Hill’s Floor Action Blog. Sounds kind of a like a not-so-happy birthday celebration for the act, which was passed in July 2010.

Consumers may not be pushing for stronger card security because they feel overly protected by the systems in use today. But they do face real costs for fraud.

PricewaterhouseCoopers failed to warn shareholders and the public about increased risk at Barclays. The auditor gave the British bank a clean report card on internal controls over financial reporting. We now know those controls were seriously deficient.