Law and regulation

Merchants can't pass the blame for data breaches onto financial institutions because protecting consumers is a shared responsibility where both sides have to meet their responsibilities.

President Obama's announcement of a new retirement plan for low- to middle-income Americans in his State of the Union address drew scorn from advisors who say many big questions remain to be answered.

Richard Berner, director of the Office of Financial Research, on Wednesday tried to assuage fears by Republican senators that a recent report on the asset management industry could serve as the basis for a designation that such firms are systemically important.

House lawmakers passed a huge agriculture bill Wednesday morning, after political gridlock on key measures like food stamps stalled proceedings for more than two years.

Sunrise Bank in Cocoa Beach, Fla., has been freed from an enforcement order from the Federal Reserve Board.

WASHINGTON — The Federal Reserve on Wednesday took another step in its effort to scale down a controversial bond buying program by an additional $10 billion.

Bankers think the regulatory environment is bad already, but it could get worse as regulators crack down harder on rules violators, hold directors and foreign banks to stricter standards and tackle "too big to fail," a top banking lawyer says.

WASHINGTON — The Consumer Financial Protection Bureau is charging PHH Corp. for running a mortgage insurance kickback scheme for more than a decade.

Crazy Woman Creek Bancorp (CRZY) in Buffalo, Wyo., is planning to convert to a state charter and repurchase preferred stock it issued to the Treasury Department under the Troubled Asset Relief Program.

It's still unclear what New York's planned "BitLicense" actually is, but the New York Department of Financial Services says its license is meant to encourage Bitcoin businesses to operate and innovate in the state.

President Obama hit on several important issues for bankers in his annual address to Congress Tuesday night, including mortgage finance reform, though as expected financial services issues largely took a backseat to other national concerns, like unemployment and the minimum wage.

It's still unclear what New York's planned "BitLicense" actually is, but the New York Department of Financial Services says its license is meant to encourage Bitcoin businesses to operate and innovate in the state.

President Obama used his State of the Union address Tuesday evening to call for the creation of a new government-backed retirement savings account and reiterate a call for comprehensive housing finance reform.

Richard Cordray, the Consumer Financial Protection Bureau's normally unflappable director, reacted angrily Tuesday to suggestions by lawmakers that he and his agency do not care about borrowers who purchase manufactured housing.

Japan, Germany, the United Kingdom and New Zealand are among the countries where local post offices provide a wide range of banking services.

The Senate voted to begin debate Monday night on legislation that would delay flood insurance premium increases for some homeowners.

Southern First Bancshares (SFST) in Greenville, S.C., used a private placement to convert preferred stock tied to the Troubled Asset Relief Program into common stock.

Charlie Shrem, the digital currency entrepreneur indicted on money laundering charges, has resigned as vice chairman of the Bitcoin Foundation.

New York's financial regulator today said that the state will propose regulations for oversight of virtual currencies such as Bitcoin this year.

Benjamin Lawsky, New York's financial regulator, today said that the state will propose regulations for oversight of virtual currencies such as Bitcoin this year.