WASHINGTON — The House on Thursday approved a spending bill that would change the structure of the Consumer Financial Protection Bureau and take away the Financial Stability Oversight Council's power to designate nonbanks as systemically important.

As the U.S. Supreme Court has agreed to consider a legal case on ATM fees, credit unions are bracing for impact.

WASHINGTON — The House approved a spending bill Thursday that would change the structure of the Consumer Financial Protection Bureau and take away the Financial Stability Oversight Council's power to designate nonbanks as systemically important.

Glendale Area Schools Federal Credit Union has converted to a state charter and will also be insured through American Share Insurance, the sole alternative provider of insurance for CUs, effectively removing it from NCUA’s purview.

Reports from the big three credit bureaus do not include information about payday loans, but a CFPB proposal figures to shake up that arms-length relationship.

Senate Banking Committee member tells Washington Post he has taken himself out of the running for GOP vice presidential candidate.

Installment lenders are concerned that efforts by the Consumer Financial Protection Bureau to curb the most abusive and predatory practices associated with payday loans will wreak havoc on their business.

Installment lenders are concerned that efforts by the Consumer Financial Protection Bureau to curb the most abusive and predatory practices associated with payday loans will wreak havoc on their business.

Federal Reserve Board Gov. Daniel Tarullo acknowledged that capital requirements for smaller banks are too complicated, suggesting they could be retooled to be like earlier Basel Committee standards.

Under Rep. Jeb Hensarling’s proposed legislation, some banks might raise capital levels to get regulatory relief. Others might choose to grin and bear the current level of micromanagement. The result would be a more diverse banking sector.

Critics of the Consumer Financial Protection Bureau think there's renewed chance to change the regulator's structure. They point to the upcoming presidential election and recent setbacks to CFPB Director Richard Cordray as laying groundwork for a change.

Merchants are facing consumer lawsuits stemming from the introduction of EMV-chip card security at the point of sale in the U.S., exposing the issues many stores must contend with now that they are held liable for fraud and chargebacks.

As we approach the midpoint of 2016, two of the most pressing matters in the payments industry have become more acute—the push for greater transparency and accountability in merchant acquiring and processing.

Some critics of the bureau think there is a renewed chance to change the bureau's structure. They point to the presidential election and recent setbacks to CFPB Director Richard Cordray, including a watchdog's report on employee discrimination and a pending legal challenge to its constitutionality, as laying the groundwork for a change.

A federal appeals court decision to toss out the settlement between merchants and major card networks has re-opened old industry wounds – and spells possible trouble ahead for banks.

U.S banks have come a long way from the early days of the stress tests, when it was unclear if any would pass. The majority of banks easily cleared the 5% minimum level for capital under the severely adverse scenario as well as the vaguer qualitative test the Federal Reserve Board imposes, suggesting institutions have finally gotten a handle on the process. Still, it's useful to see which banks improved from last year, as well as the few which fell toward the back of the back.

The Consumer Financial Protection Bureau said Thursday that it paid $24.5 million in restitution to consumers after uncovering illegal activities in auto finance and payment firms in the first four months of this year.

Six credit union employees pleaded guilty to assorted crimes in June, the National Credit Union Administration said in a press release Thursday, leading the regulator to issue notices of prohibition, effectively barring them from working or participating in any federally insured financial institution.

Banks, credit card companies and other financial firms are strategizing ways to stave off higher legal bills they expect from the Consumer Financial Protection Bureau’s proposal to limit the use of arbitration clauses, which is likely to open the floodgates to class action lawsuits.

The Consumer Financial Protection Bureau has difficulties supervising its government travel card program and has reimbursed some employees for lodging and meals while not on official travel, a watchdog said Thursday.