Regulation

A settlement between New York and the nation's largest force-placed insurer will kill bank commissions in the state and could dramatically alter the structure of the specialty insurance industry.

Sens. Sherrod Brown, D-Ohio, and Jerry Moran, R-Kan., introduced a bill Thursday that would exempt financial institutions from having to send annual private notices if the disclosures haven’t changed from the year before.

The major regional debit networks have unanimously chosen Discover's technology for a common code, or application identifier, for routing EMV debit transactions in the U.S. — but the debate isn't over yet.

Examiners are noticing more competitive pricing and instances where banks are relaxing repayment and collateral requirements.

The Consumer Financial Protection Bureau is planning a crackdown on the interest rate markups that auto dealers add onto the cost of car loans. Although it's dealers who originate the loans, the CFPB lacks the authority to regulate them directly. Bankers fear that as a result the agency will turn its focus to holding them accountable for monitoring loans made by the dealers with whom they work.

Federal Deposit Insurance Corp.'s Vice Chairman Thomas Hoenig said in a speech Wednesday that because bankers effectively corresponded with consumers leading up to the end of the Transaction Account Guarantee program, there was little impact.

American Banker's Editor at Large Barbara Rehm has an answer to the financial industry's hot button issue of "too big to fail."

Bank regulators on Thursday sent banks revised instructions on managinge potential risks from leveraged lending.

Standard Chartered has been forced to retract comments by its chairman that the U.K. bank's laundering of hundreds of billions of dollars on behalf of Iran was inadvertent.

The Consumer Financial Protection Bureau's annual report to Congress outlined key developments related to the department taking over primary collection agency enforcement duties from the Federal Trade Commission.