Regulation

The Consumer Financial Protection Bureau opened its doors July 21, a day after this nation commemorated the anniversary of the first manned mission to the moon. And just like Neil Armstrong maneuvered over the moon’s rocky surface, the government’s newest agency might present the payments industry with some uneven terrain to navigate.

A Michigan retiree who has sued more than three dozen credit unions and banks over the surcharge-fee notification requirements of the Electronic Funds Transfer Act has convinced ELGA CU to settle one suit by paying as much as $76,000 to nonmembers who used six of its ATMs that lacked the mandated external notice of a surcharge.

First Data said it would refer its bank and credit union clients to IronKey for software to protect users from fraud when banking online.

Financial services firms may want to be more discriminating when it comes to choosing their battles, rather than protesting and shouting any time a new piece of regulation is proposed. Old arguments about economic impact don't outweigh safety concerns surrounding systemically important institutions.

After years of worrying about the bad lending decisions and illiquidity that started the crisis, we must face the structural problem prolonging the crisis and preventing the economy from recovering fully.

Discover Financial Services' strategy to diversify beyond credit cards suffered a setback as the lender's deal to buy $1.1 billion in banking deposits from Allstate Corp. has fallen through.

A woman who sued a collection law firm for twice attempting to garnish her wages for a debt she did not owe was awarded $1.26 million, according to a ruling Friday by a federal jury in New Mexico.

Integra Bank in Evansville, Ind., was closed by the Office of the Comptroller of the Currency, after fighting to survive for nearly two years.

Never, ever, give Twitter accounts to stockbrokers. If you give thousands of commission-based sales people access to broadcast media, someone is bound to say something stupid.

Growth rates have approached levels observed during the onset of the financial crisis in 2008.