Regulation

In its latest regulatory hit, Meta Financial Group Inc. will have to reimburse customers of a high-interest loan program marketed to prepaid cardholders.

Credit card issuers were expected to raise fees and cut rewards to compensate for lost revenue from new regulations. But some have done the opposite, eliminating fees they are still permitted to charge.

Banks in the United Arab Emirates have begun to increase credit card fees, and some are introducing charges for services that previously were free.

New York Attorney General Andrew M. Cuomo announced awards of approximately $13 million in grants will be funded by the settlements reached in a statewide student loan investigation.

To some, Elizabeth Warren's concept of a consumer protection regulator is an innovation. To others, it's an abomination. Either way, it's here to stay, and banking regulation will never be the same.

Credit cardholders in the United Kingdom will gain more control over their card accounts in the New Year because of recent changes in industry policy.

Green Dot Corp. faces little financial risk from proposed legislation that would ban certain fees on prepaid cards, according to a stock analyst.

The Federal Reserve Board’s proposed rules regarding debit card interchange and network routing so far have generated only 35 comments, but one legal expert suggests “many” letters now in development will appear closer to the Feb. 22 comment deadline.

The credit card tax the Malaysian government imposed earlier this year has caused the country’s card base to drop significantly, an official at the country’s central bank tells PaymentsSource.

Richard J. Boudreau & Associates LLC, an ACA International Members’ Attorney Program member in Salem, N.H., announced that a federal jury in Detroit returned a verdict in favor of the company and two individual employees last week. ACA International first reported the decision.