Regulation

First Tennessee Bank in Memphis is taking an unusual approach with its new debit card fees: instead of collecting a monthly fee, the bank will charge its customers a few cents every time they use their debit cards.

The president offers a sharp critique of the banking industry, while saying that he does not believe the government should dictate how much profit private companies make.

Though it established a two-tier rate structure to accommodate issuers exempt from new caps on debit card interchange established by the Federal Reserve Board, Visa Inc. made only minor changes to the rates acquirers use to determine how much they pay card issuers with less than $10 billion in assets.

Capital rules, too big to fail, the European crisis and other wild cards are holding back deals, Jonathan Pruzan says. But a burst of mergers among midsize banks is possible.

In appearances before the House and Senate, the Treasury secretary testifies about the housing market, community banks, financial stability, and America's exposure to the European debt crisis.

For the vast majority of Americans, the role of the bank is to be there when the customer wants it to be there. Like the water company. Like the electric company.

The Senate Banking Committee voted 12-10 to send the nomination of Richard Cordray to the full Senate.

Consumer delinquencies continued to climb in the second quarter with nine of 11 loan categories showing increases, according to a study released Wednesday by the American Bankers Association.

Treasury Secretary Timothy Geithner said Wednesday that Wall Street's anger toward President Obama is "inexplicable," though possibly fueled by resentment after the administration engineered a massive bailout of the financial industry.

Downtown Manhattan has been invaded. What does it mean for bankers?