Policy & Regulation

First Premier Bank has for decades offered credit cards with higher rates and fees than almost any other bank. For instance, if you borrowed $250 on one of their cards and held that balance for a year, you'd pay roughly 75% of that amount, $187.50, in finance charges and fees—assuming no late payment or other charges.

The central bank unveiled a 173-page proposal on Tuesday detailing how it will regulate systemically important banks and nonbanks. While the plan offered a lot of specifics, some burning questions, including how much certain firms will pay as a capital surcharge, were left unanswered.

California Attorney General Kamala D. Harris filed suit against Fannie Mae and Freddie Mac on Tuesday, seeking to force the companies to answer a detailed list of questions after the firms' federal regulator sought to block an open-ended inquiry by the state.

The Obama administration is considering nominating Jeremiah Norton, an executive director for JPMorgan Chase & Co.'s investment bank, to sit on the Federal Deposit Insurance Corp.'s board of directors.

Most executives in the prepaid debit card market agree any future federal regulations that demand better disclosures on products are good for the industry. But if the government starts messing with fee structures, it could lead issuers to leave the market altogether.

The future of institutionalized, imprudent mortgage lending to people who could not otherwise afford the loans was foretold in 1999.

The average checking account costs banks about $350 annually, American Banker reported this month. But whether banks should use that estimate in determining individual customer profitability remains up for debate.

Most executives in the prepaid debit card market agree any future federal regulations that demand better disclosures on products are good for the industry.

The central bank on Tuesday released a 173-page proposal governing how it plans to supervise systemically important banks and nonbanks. The plan covers everything from capital requirements to stress tests.

The state Attorneys General need to get a deal done soon, or they — and by extension American homeowners and those who have lost their homes — lose.