Compliance

The Consumer Financial Protection Bureau's impending proposal, to be reviewed by a small business advisory panel, would block companies from using arbitration clauses to avoid class actions but allow them for individuals.

Charleston, S.C. -- A devastating “once-in-a-thousand years” storm has led to the closing of various credit union branches in the most heavily affected parts of South Carolina.

A California company called NEFT wants to provide the online meeting place where debt-laden borrowers get together with lenders and credit bureaus to negotiate repayment plans. Backed by some prominent investors, NEFT says it offers carrots to get all the parties to participate.

Republicans and the financial industry face long odds in making structural changes to the Consumer Financial Protection Bureau this year, but the ultimate outcome of the battle is still far from certain.

Consumer advocacy groups are urging regulators to take a closer look at how alternative lenders are using the stockpiles of personal information they collect.

The Mortgage Bankers Association is disappointed that the Consumer Financial Protection Bureau has not provided an explicit temporary safe harbor for lenders who have made a good-faith effort to implement new disclosures.

This week marks the fourth anniversary of the “Durbin amendment,” a defective law directing the Federal Reserve to impose price-controls on debit interchange fees.

Affordable Care Act adjustments offer relief for small employer compliance challenges, but proposed solutions may also create confusion for employers and their advisers. One legal expert shares what to expect from Washington and how to prepare for ACA compliance.

Rules set by Visa and MasterCard suggest that by the start of this month, ideally, banks would all be issuing EMV-compliant cards and retailers would have the technology to accept them. If one party is supporting EMV and the other is not, the delinquent entity will have to cover the cost of any fraud that ensues.

In comments to the Treasury Department, traditional financial institutions are calling for more oversight of an industry that is fast becoming a big competitive threat.