Regulation

TCF Financial Corp.'s William Cooper is rethinking his long-held belief that economies of scale don't matter in banking.

Consumers sued an estimated 386 different collection agencies and creditors in the Feb. 16-28 period, down from 444 in the first half of the month. The drop, in part, can be attributed to the short month and fewer days in the typical "second half" reviewed by WebRecon, the Grand Rapids, Mich.-based research firm that compiles the data from the courts.

WASHINGTON – Senator Dick Durbin insisted yesterday he will fight every effort to delay the pending implementation of his initiative to lower interchange fees paid to credit unions and banks.

WASHINGTON — In a rare show of unity, the leading bank and credit union industry groups filed a joint friend-of-the-court brief on Friday to support TCF Financial Corp.'s lawsuit against implementation of a rule that would limit interchange fees on debit cards.

WASHINGTON — Bankers and other financial executives continued their full-court press to delay pending restrictions on debit interchange fees, even as lawmakers prepared to move forward on plans to delay the new requirements.

The ongoing fight between Square Inc. and rival VeriFone Systems Inc. around payment security highlights the lack of common technical standards for mobile acceptance devices.

WASHINGTON – U.S. Public Interest Group, the leading consumer lobby in Congress, called on the Fed to maintain course and reduce fees on debit transactions while opening the cards market to greater competition.

PHOENIX–Consumer preferences for paying by credit or debit card typically are too deeply entrenched for merchants and banks to succeed easily in steering customers to one or the other option for financial reasons, one banking industry analyst contends.

WASHINGTON – A bipartisan group of Senators is planning to introduce a bill as soon as next week that would delay implementation of the controversial Federal Reserve rule to cap fees on debit transactions for two years while the Fed studies the issue.

WASHINGTON – Big Box retailers Target, Wal-Mart, SuperValu and Costco are urging the Federal Reserve to proceed with its bid to curb debit fees, insisting they will pass on billions of dollars in reduced charges to consumers.