Law and regulation

Comptroller of the Currency Thomas Curry believes regulatory cooperation between examiners is key to navigating the division of responsibilities that the Dodd-Frank Act made to bank regulation.

MasterCard continues to ride the plastic wave in worldwide payments. The Purchase, N.Y., company on Jan. 31 reported fourth-quarter net income of $605 million, driven in large part by growing use of its credit and debit cards outside of the United States.

Elizabeth Warren, the new senator from Massachusetts and the CFPB's founder, is uniquely positioned to cut a deal on the agency's structure, a move that could pave the way to confirm Richard Cordray as head of the agency and remove legal uncertainty surrounding its powers.

The Merchant Advisory Group is calling for a shift in deadlines for EMV acceptance in the U.S. — one extra month for every month the payments industry fails to find a common code for handling EMV debit transactions.

The Consumer Financial Protection Bureau has named Steve Antonakes as acting deputy director following the departure of Raj Date from that position on Thursday.

The Consumer Financial Protection Bureau said Thursday it has launched an inquiry into a wide range of banking products offered at college campuses.

The nomination of attorney Mary Jo White as SEC chairman and renomination of Richard Cordray as CFPB director indicate the White House's stance on key banking issues will create new challenges for financial institutions.

The biggest expansion of the banking rulebook is still on the horizon. The changes could lead to an overhaul of banking business models.

The Federal Trade Commission determined that banks and other creditors bear responsibility for selling consumer debts to collectors that are backed by scant documentation.

ACI Worldwide and Fidelity National Information Services each announced acquisitions of companies that provide payments technology.

MasterCard Inc., the second-biggest U.S. payments network, posted fourth-quarter profit that beat analysts’ estimates as customers made more purchases.

The Treasury Department has unloaded its latest round of bank stocks from the Troubled Asset Relief Program at a deep discount.

Confining banks to "narrow" or "traditional" activities, as some policymakers and pundits advocate, would drive even more customers to the shadow sector. Do we really want shadow banks to own the financial future?

The Competitive Enterprise Institute and the 60 Plus Association are urging the Senate to delay confirmation of Richard Cordray, director of the Consumer Financial Protection Bureau, until the implications of a recent federal court case are better understood.

Tougher on banks than on debt buyers, the FTC found banks and other creditors bear responsibility for selling consumer debts with scant documentation. Possibly erroneous records are a "significant" concern.

Many of the changes, which were outlined late last year in the FHA's annual report to Congress, will raise the cost of home loans for consumers.

Visa shareholders rejected a proposal Wednesday that would have required the nation’s largest card network to disclose publicly more information about its lobbying activities, according to the activist shareholder group behind the measure.

The Office of the Comptroller of the Currency unexpectedly announced Wednesday that Michael Brosnan, its point man for large banks, was leaving his post to become examiner-in-charge of Zions Bank. The move was unusual and effectively a demotion.

Despite the bipartisan nature of the Panel's first vote last week, the new leaders of the House Financial Services Committee, Chairman Jeb Hensarling, and ranking Democrat Rep. Maxine Waters, continue to dispute the effects of the Dodd-Frank reform law.

Regulatory cooperation is the key to navigating the division of responsibilities that the Dodd-Frank Act made to bank regulation, Comptroller of the Currency Thomas Curry said Wednesday.