Regulation

Lawsuits citing Fair Debt Collection Practices Act (FDCPA) violations were poised to hit 10,000 early this month after reaching 9,425 through Oct. 15, according to data from U.S. District Courts. Last year, the 10,000 mark for FDCPA lawsuits was not reached until Dec. 1.

WASHINGTON–U.S. Sen. Dick Durbin is working behind the scenes on a new effort to ensure small banks are not being hurt by the cap on debit card interchange.

Sen. Dick Durbin is working behind the scenes on a new effort to ensure that small banks are not being hurt by the cap on debit interchange fees.

On the same day that Bank of America Corp. bowed to pressure and decided to nix a $5 monthly debit fee it had planned to impose next year, a consumer financial-literacy organization released data suggesting the fee would have disastrous results.

Bank of New York Mellon Corp. the trustee that reached an $8.5 billion settlement for investors with Bank of America Corp., is requesting an appeal on a ruling that put the settlement in federal court.

U.S. prosecutors sued Houston-based home-lender Allied Home Mortgage Capital Corp. and two executives for alleged fraudulent lending practices related to hundreds of millions of dollars in government-backed mortgages.

The foreclosure review process mandated by a federal consent order is turning out to be far more punitive and costly than banks and mortgage servicers initially thought, industry sources say.

Months after a phishing attack struck RSA Security's passcode-generating tokens and thus exposed the nation's leading banks to security threats this spring, more than a third of top banks are standing by RSA's product.

Kansas City Fed retiree Tom Hoenig sees better oversight and a decline of SIFI's as the key to a strong financial industry.

The FDIC and Federal Reserve banks are revamping procedures to meet new legislative and regulatory demands.