It has been seven years, and it’s going to take about $16.1 million, but First Reliance Bancshares in Florence, S.C., says it is about to close a key chapter in its post-crisis recovery and is ready to ramp up growth.

To account for the heightened questioning and investigations around the Panama Papers hack, people need to “legal-up” and issuers, financial institutions and processors need to “gear-up” for expected spikes in work related to due diligence, more precise monitoring of transactions, payments and sanctions filtering, possible ad-hoc examination and possible fines.

In a pair of proposals approved by the Federal Reserve Board Friday afternoon, the Federal Reserve signaled to the insurance industry that it knows the difference between them and banks. But the devil may still be lurking in the details.

In an initial regulatory move released by the Federal Reserve Friday, the central bank was emphatic about distinguishing between the capital and liquidity risks posed by insurance activities versus the riskier ones that firms may be engaged in.

Comments by JPMorgan Chase's Jamie Dimon have added fuel to the long-discussed idea of a national database that would make it easier for banks to vet customers for anti-money-laundering and other risks.

Merchants sued Visa and MasterCard in 1996 when the card networks forced them to "honor all cards," and though the suit settled in 2003, the wounds are reopening with the spread of mobile wallets.

The Consumer Financial Protection Bureau's complex payday lending proposal is sparking concerns that state legislatures will try to repeal existing usury laws and allow a parade of pro-payday-lending bills to move forward.

The Federal Reserve has announced the schedule for releasing the results of the 2016 stress tests of the largest U.S. banks.

Sen. Elizabeth Warren, the founder of the Consumer Financial Protection Bureau, said Thursday she would fight back against congressional efforts to delay or revamp the agency's payday lending proposal even while she acknowledged the plan could have been tougher.

The National Retail Federation wants the Federal Trade Commission to do more than merely check up on the companies that routinely assess merchants for compliance with the Payment Card Industry Data Security Standards (PCI DSS).

Federal Reserve Govs. Jerome Powell and Daniel Tarullo Thursday said they expect banks to have to meet significantly higher capital minimums after the central bank applies its capital surcharge rule for large globally risky banks to its stress test. That difference could significantly cost banks.

Although the Consumer Financial Protection Bureau’s long-awaited proposal to establish the first federal rules for payday, auto title and high-cost installment loans offers a nod to NCUA’s Payday Alternative Loans (PALs) program, CUs are concerned the plan will stifle their ability to offer consumer-friendly alternatives to an often predatory market.

Federal Reserve Board Gov. Daniel Tarullo said Thursday that he anticipates the agency will eliminate the qualitative requirements in the annual stress testing program for most midsize banks as early as next year.

The Consumer Financial Protection Bureau's long-awaited proposal to establish the first federal rules for payday, auto title and high-cost installment loans did not include a provision that banks had planned would allow them to compete by offering small-dollar installment loans.

The National Credit Union Administration will host a webinar on how to become a certified Community Development Financial Institution (CDFI).

Community Business Bank in West Sacramento, Calif., has finally put the Troubled Asset Relief Program in the past.

The National Credit Union Administration (NCUA) will host an internal controls and accounting webinar on Wednesday June 22 at 2pm EST.

The Consumer Financial Protection Bureau will unveil sweeping federal regulations Thursday for payday lenders that could open the door for competition from banks, while forcing lenders to move toward longer-term installment loans. Here's what to track when the plan is released.

The latest crop of prohibition orders includes one against an employee involved in the fraud that led to the failure of Taupa Lithuanian CU.

WASHINGTON — The Federal Reserve will vote next week on whether to publish a blueprint for capital requirements for insurance firms under its supervision and insurance companies designated as systemically risky.