Regulation

Visa's fiscal third-quarter net income rose 40.4% due partly to a gain from the revaluation of a deal with Visa Europe.

Bank regulators told Congress Wednesday they are encountering problems as they seek to implement a provision of last year's financial reform law aimed at lessening the importance of credit rating agencies.

Foreign entities could account for roughly half of reserves booked at the Fed, but, recently, wavering confidence in European banks appears to have channeled some reserves to domestic banks.

The central bank's survey finds improved loan demand in New York, Richmond and Chicago, while other areas lagged behind.

Jim Grant discusses public policy and industry consolidation.

Basel III aims to hold global banks to a common capital standard but since Dodd-Frank will require an even stronger system here, should U.S. regulators waste time writing rules to implement the international capital accord?

Michelle Korsmo will become the new chief executive of the American Land Title Association, replacing Kurt Pfotenhauer, who is leaving at the end of the month to become executive vice president and vice chairman of First American Title Insurance Co.

WASHINGTON — In the battle over Dodd-Frank implementation, large U.S. banks may do well to remember the story of the boy who cried wolf.

In attempting to prevent abuses of the interchange cap exemption for reloadable prepaid cards, the Fed may have inadvertently scuttled an opportunity for banks to serve low-balance account holders.

WASHINGTON — The Treasury Department said Tuesday that Elizabeth Warren is stepping down as the special advisor to the secretary effective August 1.