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Banks have been accused of ripping off consumers for insurance-like credit card products. Now critics who say the payment protection plans are a racket could get a boost from federal regulators.
February 6
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Minnesota has suspended the collection license of Accretive Health Inc., a Chicago-based company that lost a laptop computer containing medical records for thousands of patients at two Minnesota hospital systems last summer.
February 6 -
California has returned to talks after a four-month absence to possibly take part in a multi-state deal with the nation's largest mortgage servicers over faulty foreclosure practices, the New York Times and Los Angeles Times reported Monday.
February 6 -
WASHINGTON — The White House late Friday named former Treasury Department official Jeremiah Norton to the remaining seat on the Federal Deposit Insurance Corp. board of directors.
February 4 -
The Durbin amendment has sapped debit card revenue, but swipe fees are contributing a growing share of earnings at large credit card businesses.
February 3
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Regulators, particularly the OCC, are hitting banks with consent orders for erroneous accounting for troubled-debt restructurings. The issue, based on new FASB standards, is becoming a catalyst for higher loan-loss provisions and lower profit.
February 3
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A former housing counselor from New York has been sentenced to six years in prison for defrauding homeowners who sought her help in obtaining a mortgage modification, authorities said.
February 3 -
Barbara Desoer, the president of Bank of America's home loans division and once considered a candidate for CEO of the entire company, will retire at the end of February, B of A said Friday.
February 3 -
The Consumer Financial Protection Bureau has vowed to protect privileged information collected during the supervision process, but banks are nervous that might not be enough.
February 3 -
The former president and chief executive at the failed Orion Bank in Naples, Fla., faces up to 15 years in federal prison after pleading guilty to lying to examiners about the bank’s health.
February 3 -
New legislation in the House would reduce certain tax-reporting requirements for merchants, which could benefit credit-card companies as well.
February 3 -
WASHINGTON–A new House bill aims to ease the tax-reporting requirements for retailers that rely on card purchases, which could stave off a wave of confused phone calls from merchants to their processors, according to the bill’s supporters.
February 3 -
To suggest that MMFs exist in a hidden shadow world simply distorts reality.
February 3
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The measure would also ban bonuses to executives at Fannie and Freddie, while requiring firms that sell information they gather on Capitol Hill to hedge funds to register as lobbyists.
February 2 -
Regulators say coordination is a high priority, but under Dodd-Frank institutions of varying sizes and charters will face different regimes.
February 2 -
Treasury Secretary Tim Geithner said the administration will release new details on a plan for GSE reform in the coming months, but said he doesn't expect legislation to advance this year.
February 2 -
The Senate approved an amendment to stop Fannie and Freddie from paying bonuses and a separate measure that would require members of Congress to disclose the terms of their mortgages.
February 2 -
Analysts and former regulators debate whether last year's decline in new regulatory orders means things are improving for the banking industry, or if regulators are simply running out of sick banks to flag.
February 2
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Nearly one year after the Treasury Department outlined a broad strategy for housing finance reform, Treasury Secretary Tim Geithner said Thursday the administration will finally outline more specific plans in the next few months.
February 2
