Regulation

Observers say it's unlikely Congress will be able to strike a deal to stop across-the-board budget cuts from going into effect next week, raising concerns for bankers and regulators alike.

The chip-and-PIN version of PayPal's Here mobile card reader is set to debut overseas this year, but the splash will be felt in the U.S. as well.

The Consumer Financial Protection Bureau has shown interest in the student loan marketplace, noting its potential to cause systemic problems, and the agency wants to assist struggling student borrowers.

The Financial Stability Oversight Council was created as part of the 2010 Dodd-Frank reform law to identify risks and respond to emerging threats to financial stability. The FSOC exercised its authority for the first time last November, when the council issued recommendations to the Securities and Exchange Commission regarding the regulation of money-market mutual funds.

The number of community banks under enforcement actions fell in January, as the Federal Deposit Insurance Corp. ended 16 orders and issued five on the month.

JPMorgan Chase (JPM) is raising another round of questions about a lawyer who works for the New York attorney general, which has sued the company over the mortgage conduct of Bear Stearns.

The Federal Reserve Board said Friday it will give stakeholders more time to comment on a proposal that would overhaul the way the U.S. central bank supervises foreign banks operating in the U.S.

The National Grocers Association said its board voted to opt out of a multibillion-dollar antitrust settlement with Visa Inc. and MasterCard Inc. over merchant fees.

The market should pay more attention to whether banks are adequately capitalized for unabated fraud, such as misrepresentations of securities or insider trading, settlement complications and other operational failures.

Forcing the networks to let merchants surcharge for card payments will remove the advantage of retailers that accept only cash or other alternatives such as Bitcoin.