Law and regulation

Bureau says banks with fewer than 100 international money transfers a year can avoid new fee disclosure requirements, but some industry officials say the threshold is still too low.

Standard Chartered fell the most in almost 24 years as an analyst estimated it may face costs of $5.5 billion after being accused of violating U.S. money laundering laws over to its dealings with Iranian banks.

The Federal Reserve Board has issued an enforcement order against Gold Canyon Bank that gives the Gold Canyon, Ariz., company 90 days to become adequately capitalized or to sell itself.

Consumer use of prepaid cards is incredibly varied, relatively short-lived and full of mystery, finds a report released Tuesday by the Philadelphia Fed.

The Consumer Financial Protection Bureau said Tuesday that institutions with fewer than 100 remittances a year are exempt from a requirement that providers of international money transfers provide upfront fee disclosures.

The Consumer Bankers Association has bulked up its staff, announcing four new hires across several areas.

U.S. Senator Richard Durbin said merchants should "think hard" before signing a $6.6 billion settlement with Visa, MasterCard and banks over credit-card fees.

Huntington Bancshares (HBAN) in Columbus, Ohio, will redeem roughly $114.3 million in trust-preferred securities next month.

MetLife, the insurer seeking an exit from banking to limit U.S. regulation, was penalized $3.2 million by the Federal Reserve for lapses tied to the servicing of loans and handling of foreclosures.

"The Consumer Financial Protection Bureau is urging colleges to adopt a new form designed to make it easier for students to compare financial aid offers,” writes American Banker’s Kevin Wack.

Sen. Richard Durbin, who won federal limits on debit-card swipe fees, said merchants should "think hard" before signing a $6.6 billion settlement with Visa Inc., MasterCard Inc. and banks over credit-card fees.

ViVOtech has sold its ViVOpay payment-hardware business, the company said Monday in a notice on its website.

MasterCard is asking the European Union's highest court to overturn an EU decision that the company's cross-border card fees breach antitrust rules.

The Office of Mortgage Settlement Oversight said Monday that it has hired secondary consulting firms to assist BDO Consulting in overseeing compliance of the five largest mortgage servicers with the $25 billion national servicing settlement.

Banks appear to be effectively using a government program to help struggling borrowers refinance their underwater mortgages in order to make monthly payments more manageable.

The inspector generals for two agencies concluded that neither improperly leaked draft copies of the Volcker Rule to American Banker.

Knight Capital Group Inc.'s search for investors in the wake of a $440 million loss demonstrates why the biggest Wall Street banks shouldn't be broken up, according to Brad Hintz, a Sanford C. Bernstein & Co. analyst.

Working on your wish list for Dodd-Frank repeals? Mark A. Calabria, the director of financial regulation studies at the Cato Institute, has Section 1071, which requires a system for tracking data on lending to women-owned and minority owned small business, on his.

Despite the low number of prosecutions under Sarbanes-Oxley, crimes committed by banks have been punished with big fines. Too bad that's not enough to keep them from offending again.

Standard Chartered Plc conducted $250 billion worth of transactions with Iranian entities over more than seven years in violation of federal money laundering laws, a New York regulator said in an order warning that its U.S. unit may be suspended from doing business in the state.