Law and regulation

Although American Express received lighter fines than the two previous credit card players targeted by the Consumer Financial Protection Bureau, many believe the CFPB’s third enforcement action is its biggest statement yet.

Although American Express received lighter fines than the two previous credit card players targeted by the Consumer Financial Protection Bureau, many believe the CFPB's third enforcement action is its biggest statement yet.

The Securities and Exchange Commission agreed to accept the settlement and forego any appeals after a California judge effectively gutted the government's case.

Prosecutors charged three men with taking part in a $100 million fraud involving the former chief executive officer of Manhattan's Park Avenue Bank, who pleaded guilty in 2010 to lying to regulators and embezzling funds.

The battle over interchange fees moves to its next phase Tuesday when a federal judge hears complaints from merchants that the Federal Reserve's cap on the fees not go far enough.

Examiners will be able to take their complaints to the comptroller's office when they disagree with supervisory decisions.

U.S. regulators are making significant progress in implementing Basel III, according to a scorecard released Monday by the Basel Committee on Banking Supervision. But the EU received a worse grade.

One year after the Durbin Amendment slashed debit interchange payments to banks, there’s scant evidence that retailers are lowering prices as promised.

The Federal Deposit Insurance Corp. has lifted a cease-and-desist order against Twin City Bank after it raised fresh capital.

A practical, well-executed plan, even one with disappointingly modest goals, will deliver more than an overly ambitious plan, easily subverted, that in hindsight probably had no hope of ever succeeding.

The Financial Stability Oversight Council took another step Friday toward designating certain nonbank firms as systemically important. One key question is how, and how hard, those named will push back.

The Financial Accounting Standards Board stands ready to repeal a directive that allows banks to record a gain in income when the value of their own fixed-income securities decreases, and losses when the liabilities' worth rises.

The Dodd-Frank Deposit Insurance Provision, which insures accounts over $250,000 is set to expire by the end of the year. When the program (often referred to as its first incarnation, the Transaction Account Guarantee) ends, funds over the limit will be moving to money-market funds, analysts predict according to the Wall Street Journal.

It is neither the intent nor the practice of NCUA to influence a vote on a credit union conversion. Our rules protect members' rights to make well informed decisions.

Under new international rules, mutual banks in the U.S. will need a way to issue marketable securities to raise capital. Core capital deferred shares, a U.K. innovation, offer a model.

In a rare coordinated effort Monday, all three federal banking agencies, the CFPB and the state regulator in Utah announced more than $112 million in enforcement penalties against American Express for card practices that allegedly violated a range of consumer protection laws.

With only two enforcement actions under its belt, the Consumer Financial Protection Bureau is already sending a clear message to institutions that run afoul of consumer protection laws: get ready to pay big.

The FTC will refund more than $11,000 to consumers who allegedly were charged an illegal fee by a collection agency before providing a promised credit repair product.

The Financial Stability Oversight Council moved forward on its task, required by Dodd-Frank, of identifying nonbank financial institutions that pose a systemic risk. In phase three you only find out if you're a candidate.

Unicredit America Inc., the Erie, Pa.-based collection agency that used a fake courtroom to coerce debtors to pay, could have to pay more than $1.2 million in penalties pending a ruling.