WASHINGTON – Senate Majority Leader Harry Reid threatened yesterday to pursue the so-called nuclear option as soon as Tuesday and bypass the Senate minority’s ability to filibuster presidential appointments, in an effort to move to a vote on the nomination of Richard Cordray to a five-year term as director of the Consumer Financial Protection Bureau.

WASHINGTON – A bipartisan group of senators proposed legislation that would reinstate the Depression-era Glass-Steagall Act, separating commercial banking from investment banking.

Financial institutions with at least $10 billion in assets knew they would take a hit to their revenue when the Durbin amendment capped interchange pricing. But smaller issuers, who were exempt from the cap, have seen a drop as well.

Fidor Bank AG, of Munich, has agreed to help Bitcoin Deutschland GmbH, an exchange operator, to speed trading of bitcoins and comply with regulatory requirements.

By July 2008, when Apple introduced the app store as part of the new iPhone 3G, the idea of mobile payments had largely flopped. The app store gave payments companies a second chance at creating the mobile wallet — but many still stumbled along the way.

CloudPassage, a cloud infrastructure security provider, is offering to address Payment Card Industry security standard compliance for cloud-based businesses.

WASHINGTON -- Republican members of the House Financial Services Committee expressed concern this morning that the Consumer Financial Protection Bureau is collecting personal purchasing information on tens of millions of Americans in contravention of privacy requirements contained in the Dodd-Frank Act, which created the new consumer agency.

WASHINGTON – The Consumer Financial Protection Bureau this morning is expected to tell Congress it will be carefully protecting individuals’ privacy as it builds a massive database on consumer financial behavior and on home mortgages.

Credit unions are being urged to get ready for January 2014, when a host of new rules enacted by the Consumer Financial Protection Bureau will take effect.

Credit unions deciding whether they will "play or pay" under the new Obamacare rules will now be able to delay that decision one year.

WASHINGTON – NAFCU called on the Consumer Financial Protection Bureau on Wednesday to extend the two-day hold period on personal checks for another day, in order to better detect fraud.

NEW YORK – Credit unions need to plan for January, when a host of new rules enacted by the Consumer Financial Protection Bureau take effect, according to compliance experts speaking at CUNA’s annual America’s CU Conference.

The Consumer Financial Protection Bureau is breaking up its searchable, online consumer complaint database by state-allowing onlookers to better drill down into the data.

Ever since the FFIEC released its social media guidance for financial institutions in January, executives have been concerned about several requirements, such as the difficulty of monitoring employees' social media activities and the challenge of calculating an ROI for social media.

Yet more regulatory fallout from the recession is a proposed rule from NCUA relating to liquidity risk-which two experts said is all about a credit union having enough "levers" to pull during a crisis.

A liquidity policy is different from a contingency funding plan, and should be part of every credit union's overall strategic planning, according to John Myers.

Credit unions are being cautioned to double-check the non-judicial foreclosure statutes in the states in which they do mortgages for notice requirements in the wake of a closely watched Nevada state court ruling.

The Texas State Supreme Court has ruled illegal two major provisions of the state's home equity rules, the latest setback in a two-decade battle. The state's highest court ruled that the Credit Union Commission and the Finance Commission went too far when modifying loan fee caps and allowing loan closings through an agent.

WASHINGTON – NAFCU Friday called on NCUA to support a new regulatory relief bill introduced in Congress just hours before, which would, among other elements, create a risk-based capital system for credit unions.

WASHINGTON – NCUA told a key lawmaker last week the agency is issuing new guidance to examiners on concentration risk and plans to amend its prompt corrective action regulation this fall to place additional emphasis on the risks posed to the balance sheet by concentrations of real estate and member business loans and loan participations.