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The Durbin amendment has sapped debit card revenue, but swipe fees are contributing a growing share of earnings at large credit card businesses.
February 3
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Regulators, particularly the OCC, are hitting banks with consent orders for erroneous accounting for troubled-debt restructurings. The issue, based on new FASB standards, is becoming a catalyst for higher loan-loss provisions and lower profit.
February 3
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A former housing counselor from New York has been sentenced to six years in prison for defrauding homeowners who sought her help in obtaining a mortgage modification, authorities said.
February 3 -
Barbara Desoer, the president of Bank of America's home loans division and once considered a candidate for CEO of the entire company, will retire at the end of February, B of A said Friday.
February 3 -
The Consumer Financial Protection Bureau has vowed to protect privileged information collected during the supervision process, but banks are nervous that might not be enough.
February 3 -
The former president and chief executive at the failed Orion Bank in Naples, Fla., faces up to 15 years in federal prison after pleading guilty to lying to examiners about the bank’s health.
February 3 -
New legislation in the House would reduce certain tax-reporting requirements for merchants, which could benefit credit-card companies as well.
February 3 -
WASHINGTON–A new House bill aims to ease the tax-reporting requirements for retailers that rely on card purchases, which could stave off a wave of confused phone calls from merchants to their processors, according to the bill’s supporters.
February 3 -
To suggest that MMFs exist in a hidden shadow world simply distorts reality.
February 3
