Regulation

David Wilcox was named director of the Federal Reserve Board's division of research and statistics. He will begin Oct. 1.

After months of complaints about overzealous examiners, frustrated bankers took it a step further by pressing a House panel to pass legislation forcing regulators to be more lenient.

Bair will join the Pew Charitable Trusts as a senior advisor starting Sept. 7. Meanwhile, Martin Gruenberg, the FDIC's vice chairman under Bair, was set to assume the position of acting chairman at the close of business Friday.

The Federal Reserve Board has given the troubled Commonwealth Bankshares Inc. in Norfolk, Va., until the end of July to either raise fresh capital or find a buyer.

In a move that seems to parallel U.S. policies, a consortium of top French banks has agreed to cut debit card interchange rates inside the nation's borders by as much as 36% in response to a price-fixing investigation by a government agency.

What financially significant news was in the Fed's final Durbin regulations release on June 29? An objective measure is the impact of the release on stock prices.

The Federal Reserve Board just gave the biggest banks in the United States a $4 billion annual present and flagrantly disregarded the law to do so.

In an eerie parallel with U.S. policies, a consortium of top French banks have agreed to cut debit card interchange rates inside the nation’s borders by as much as 36% in response to a price-fixing investigation by a government agency.

After months of fretting, ISOs, agents and processors are viewing the upcoming cap on debit card interchange fees as a golden opportunity to increase margins, boost revenue and gain market share.

In an effort to further cool down an overheating credit card market, South Korea’s financial regulator has announced new limits for card companies’ operations.