WASHINGTON — The Internal Revenue Service has backed down in its dispute with the credit union community over unrelated business income tax and cleared almost all CU products at stake in related litigation.

WASHINGTON — Bank of America will pay $772 million to settle allegations by two regulators that it engaged in unfair fee collection and marketing related to credit card add-on products.

The Federal Deposit Insurance Corp. is projecting a nearly 8% decline in deposit insurance assessments this year with improvement in the indicators that determine institutions’ rates.

WASHINGTON — NCUA General Counsel Michael J. McKenna told the House Financial Services Committee Tuesday that 70% of new rules put in place by the agency since last January have provided regulatory relief to credit unions without incurring additional costs.

Stepped-up scrutiny of Internet payday lenders, online pharmacies and other merchants that regulators and law enforcement view warily is forcing the payments industry to adapt.

The Consumer Financial Protection Bureau Monday announced a partnership with libraries and other federal regulators to provide librarians with unbiased financial literacy education materials.

Regulators announced Monday they would extend the conformance period by two years under the Volcker Rule for banks with legacy collateralized loan obligations, but at least one lawmaker is already saying the agencies should do more.

Last year, IdentityMind Global's banking partners began asking the anti-fraud and risk management provider to build an anti-money laundering system for the Bitcoin startups among the bank's clients. IdentityMind Global has now completed development on this AML technology.

CUNA is asking the House Financial Services Committee to "thoroughly examine" NCUA's proposed risk-based capital rule and direct the agency to make significant changes to address "serious deficiencies" in the proposal.

The controversial industry will soon be regulated for the first time on a nationwide basis. Here’s a guide to what's coming.

WASHINGTON — The House Financial Services Committee is scheduled to hold a hearing Tuesday morning with senior regulatory officials to explore the costs of recent rulemakings and other agency actions.

Rep. Scott Garrett, R-N.J., a senior member of the House Financial Services Committee, introduced a bill Thursday designed to increase transparency at the Financial Stability Oversight Council.

Bitcoin ATM providers and virtual currency exchanges may be subject to Texas licensing requirements, according to regulatory guidelines issued by the Texas Banking Commissioner on April 3.

BTC China and OKCoin, two of China's largest Bitcoin exchanges, suspended some money transfer services after it was reported that the central bank tightened controls on the digital currency.

Drew Breakspear spent decades as a banker before becoming the top industry enforcer in Florida. He is empathetic to banks, realizes the growing importance of virtual currencies like Bitcoin and believes more bankers should serve on the Fed's Board of Governors.

Sens. Mark Warner, D-Va., and Mark Kirk, R-Ill., unveiled legislation on April 2 to increase fraud protections for debit card customers.

Target Corp. is backing the moving of class actions related to the retailer's massive data breach to the company's home state of Minnesota.

Payments technology provider Fidelity National Information Services (FIS) and its NYCE debit network have secured a licensing agreement with Visa to use the card brand's EMV debit application identifier (common AID) technology.

WASHINGTON — When Harry Douglas Lane was called upon to speak at a Consumer Financial Protection Bureau forum last year, he appeared to be just another person in the crowd.

Former Rep. Barney Frank said regulators are going against congressional intent in their latest risk retention proposal, while former Sen. Chris Dodd acknowledged that their law would need some changes to make it work as envisioned.