Regulation

WASHINGTON – The Federal Reserve is expected to vote a final rule on debit fees a week from today, now that a credit union-backed proposal to delay the rules has been shot down in Congress.

Pennsylvania's Attorney General's office has filed a motion asking to amend the consumer-protection lawsuit against collection agency Unicredit America Inc. to include Michael Covatto, company president, and Anthony D. Covatto, company vice president, as defendants.

The top South Korean financial regulator plans to restrict credit card issuance and curtail issuers’ marketing budgets to combat growing household debt in that country.

WASHINGTON — Although banks failed in their attempt to convince Congress to delay an interchange fee cap for debit cards, the financial services industry is not giving up, just changing venues.

The top South Korean financial regulator plans to restrict credit card issuance and curtail issuers’ marketing budgets to combat growing household debt in that country.

WASHINGTON — In a nail-biting conclusion after weeks of fierce lobbying by bankers and retailers, the Senate defeated a bill Wednesday that would have delayed the Federal Reserve Board's proposal to cap interchange fees for debit cards.

WASHINGTON — Just hours before the Senate votes on the biggest post-Dodd-Frank bill for the industry, no one in Washington knows what the outcome will be.

WASHINGTON – The credit union and banking lobbies were pulling out all the stops last night to round up a few more votes for their bid to delay cuts in debit fees, but the effort was still a handful of votes short.

WASHINGTON–Banks appeared to be gaining the upper hand in their battle against retailers to delay pending interchange fee caps, but the fight was far from over.

All merchant acquirers and card issuers in India would have to establish adequate risk-management systems and processes to help prevent card fraud within the next 12 months under proposals outlined in a central bank working group report released June 2.