Policy & Regulation

In the wake of the news of Global Payments' breach last month, some are asking processors to tighten security and accept more risk.

DBA International, the largest association representing the debt-buying industry, supports the recent enforcement actions by the Federal Trade Commission to shut down and freeze the assets of a company accused of fraudulently collecting more than $5.2 million in payday loan debts from consumers.

Bank of New York Mellon is set to pay a $6 million civil penalty for pledging collateral that was not eligible under an emergency liquidity facility, the Federal Reserve Board said Monday.

Though it caved to First Premier’s lawsuit, the Consumer Financial Protection Bureau has failed to resolve the uncertainty about the rules for credit card fees.

Banks and credit unions are lobbying fiercely over legislation that would allow the latter to expand further into commercial lending.

Joe Smith could choose a large consulting firm as project team leader only and mandate that this firm pick experts and on-the-ground compliance staff from a wider range of outfits.

The Obama Administration argued Friday that the government's response to the financial crisis has been unfairly maligned and is likely to earn money for taxpayers.

Scores of community banks could soon deregister from the Securities and Exchange Commission due to a clause in the newly signed law. But some lawyers warn that activist investors could take advantage of banks that decide to stop filing documents with the SEC.

JPMorgan Chase and Wells Fargo reported surprisingly strong revenue growth on Friday, reversing the slumps of recent quarters. A pickup in mortgage banking returns helped.

Some 350 banks are yet to pay back Tarp funds. A recent auction of preferred shares may signal a way out for the Treasury.