Policy & Regulation

Consumers are understandably angry that their debit cards and checking accounts will be subject to new fees. No one likes price increases, especially when they appear suddenly and without apparent justification. However, the current backlash against the nation's large banks is misdirected, and the rationale for these new fees is generally misunderstood.

When banks attempt to mark up the transaction involving a dollar, the fee for the service is stark. It stands out in a manner that makes it both obvious and occasionally controversial.

As lawmakers consider an overhaul to the housing finance system, the banks and their allies are lobbying to be kept out of the process.

U.S. Congressman Jason Chaffetz (R-Utah) and Congressman Bill Owens (D-New York) today plan to introduce legislation aimed at repealing the debit card interchange rate-control provisions of the Dodd-Frank Wall Street Reform and Consumer Protection Act, the lawmakers announced.

An ongoing tug-of-war between compensation and regulation has spread to retirement packages at community banks after a Michigan company opted to withhold about half of a payout to a retiring executive until an outstanding enforcement action is lifted.

The Securities and Exchange Commission unanimously issued a proposal Wednesday for implementing the so-called Volcker Rule.

In a move that could speed up investors’ market moves, Airtel Ghana Ltd. has announced it is offering a new mobile funds-transfer service in collaboration with Databank Financial Services Ltd., a local stock-trading portal.

The president of a small Atlanta-based bank testified to Congress on Wednesday that the derivatives provisions in the Dodd-Frank Act could hinder the bank's ability to manage risk and serve its clients.

Taking a constructive approach as he wades into the thorny Basel debate, Citi CEO Vikram Pandit advocates benchmarking as way to compare firms' risk appetites.

The Obama Administration expects to roll out a plan to lower barriers to refinancing in "the next couple of weeks," HUD Secretary Shaun Donovan told mortgage bankers at their annual convention in Chicago.