Policy & Regulation

Regulators raised objections Wednesday with a House bill that would set up an independent appeals process for banks.

First Data expects its Star PIN-debit network to benefit this year when the last measure of the Durbin amendment takes hold on April 1, requiring financial institutions with more than $10 billion in assets to have at least two processing networks on their debit cards.

As banks continue to shed their private equity portfolios for regulatory and other reasons, PNC spin-off Incline raises money for a new investment fund and continues to work with its former owner.

Republicans and Democrats on the House Oversight Committee clashed Wednesday over whether the president violated the Constitution when he used recess appointments to fill top vacancies at the CFPB and National Labor Relations Board last month.

President Obama unveiled a new home refinancing plan during his State of the Union address. So far it is short on details and looks destined to fare no better than its predecessors.

Core banking provider Jack Henry's electronic payments unit is moving like a juggernaut. Its clients are also seeing little effect of the Durbin amendment, which had the potential to curb debit-card use.

The fact of the matter is that banks can manipulate earnings, and consequently capital, through decisions about loss provisioning.

The Federal Housing Finance Agency is preparing to back away from a controversial plan to overhaul the servicing fees paid on Fannie Mae and Freddie Mac loans, after intense, across-the-board industry opposition to the idea.

The Federal Trade Commission has stopped an operation targeting payday loan seekers that charged for worthless programs without consumers' consent.

A plan by the Obama administration to help millions of middle class families refinance their homes would cost large banks between $5 billion to $10 billion, the White House said Wednesday.