Law and regulation

As the Consumer Financial Protection Bureau prepares to finalize its rule on prepaid cards, the agency must clarify that automated overdraft products – a common reason consumers dump their banks – are not allowed on prepaid accounts.

A long-running dispute between the Department of Housing and Urban Development and the agency's Office of Inspector General over down payment assistance programs is beginning to have an impact on lenders.

Federal financial regulators are incorporating lessons learned from the Swift hacks in their examinations, they told a lawmaker in a joint letter last week.

The Federal Housing Finance Agency is seeking to make it easier for Federal Home Loan Banks to accept certain kinds of collateral for advances.

Until recently, credit unions rarely used arbitration clauses, and were praised by consumer advocates for pro-customer practices. But credit unions have learned to embrace the use of arbitration clauses – and now oppose the Consumer Protection Bureau’s plan to rein them in.

WASHINGTON — A federal appeals court has scheduled oral arguments in a case that could have profound implications for the government's ability to designate nonbanks as systemically risky.

Discussions around reinstating the Depression-era law are headline-grabbing, but Glass-Steagall has no merit in our current financial environment.

With the Consumer Financial Protection Bureau expected to release tighter rules for prepaid cards in the next several weeks, prepaid issuers are pushing what they see as advantages over banks, such as fast access to payroll funds.

Santander Consumer USA Holdings again delayed its second-quarter results and financial statement due to ongoing discussions with federal regulators about accounting issues.

Democratic presidential nominee Hillary Clinton again pledged Tuesday to grant relief to small banks and credit unions if elected president, making her most high-profile commitment to the idea yet — but analysts were skeptical of her ability to get it across the finish line.

New specifications for Fannie Mae and Freddie Mac's common mortgage application unveiled Tuesday add data points and remove obsolete questions, as well as include additional capabilities to promote digital mortgage workflows.

Democratic presidential nominee Hillary Clinton renewed her pledge Tuesday to cut regulations for community banks and credit unions while also signaling plans to embrace the burgeoning fintech sector.

The Consumer Financial Protection Bureau said Monday that Wells Fargo had engaged in illegal student loan servicing practices by processing payments to maximize late fees.

The Federal Reserve Board launched a Facebook page last week — and it went about as well as you would think. Social media experts faulted its approach as high-handed and tone-deaf, raising questions about what the central bank was trying to accomplish and about its commitment to social media.

Diebold Nixdorf’s shiny new corporate moniker is already threatened by a possible deep investigation by U.K. authorities into the company’s possible anti-competitive violations.

The New York State Department of Financial Services has fined Mega International Commercial Bank in Taiwan $180 million in connection with allegations that it violated New York’s anti-money-laundering laws.

The Federal Deposit Insurance Corp. is receiving a rising number of new inquiries from organizations seeking to obtain a bank charter, the agency said in a report Monday.

Despite headwinds working against the mortgage insurance industry, this business could be the catalyst for bringing private capital back to the mortgage market.

The Georgia Department of Banking and Finance closed the $21.4 million-asset Woodbury Banking Company on Friday, marking this year's fourth bank failure.

With the Office of the Comptroller of the Currency evaluating the possibility of a nationwide charter for certain fintech firms, state regulators are voicing concerns that a charter could cut into their authority.