Regulation

The state of New York's crackdown on illegal online payday loans is being ratcheted up, with Bank of America (BAC) taking unprecedented steps to help state officials ferret out misconduct.

New York officials have created a database of blacklisted lenders, and Bank of America has agreed to use it. Authorities hope that other banks will follow suit.

WASHINGTON — A financial education partnership between public libraries and the Consumer Financial Protection Bureau has skyrocketed to more than 98 library systems in the two months since the pilot program launched.

Regulators' evaluation of last year's "living wills" submitted by the biggest banks was touted as an important step in ending "too big to fail," but the agencies have failed to provide any feedback on previous plans just weeks before the next set are due.

The widely repeated narrative about AIG ignores or downplays a critical aspect of its downfall—the insurer’s securities lending program run for the benefit of its regulated life insurance subsidiaries.

The Supreme Court told a lower court to take another look at a ruling that let the National Credit Union Administration sue a group of banks for allegedly deceiving investors about mortgage-backed securities.

The city of Richmond, Calif., wants to team up with another municipality to implement its plan to use eminent domain to seize underwater mortgages. There have been no takers to date. The likely reasons are the FHFA and the continuing threat of litigation.

Discover Financial Services agreed with regulators to bolster its payment systems against money launderers. No financial penalty was imposed.

The Delaware bank, which issues cards for a wide swath of the prepaid industry, will have to curtail its growth as part of an agreement with the FDIC.

GreenStar Payment Solutions, a venture of SinglePoint, Advanced Content Services and GreenHouse Payment Solutions, is offering debit card acceptance to legal marijuana dispensaries through the use of cashless ATMs.