New York’s – and consequently Wall Street’s – top financial regulator Benjamin Lawsky will be stepping down from his position as banking regulator in the state Department of Financial services. Get the Full Story Complete the form to unlock this article and enjoy unlimited free...
Following an order from the Consumer Financial Protection Bureau announced Tuesday (May 19), PayPal has agreed to pay the imposed fine of $25 million related to deceptive credit accusations from the agency. Get the Full Story Complete the form to unlock this article and enjoy unlimited free access...
JP Morgan Chase’s new global think tank is working with policy makers and economists in an attempt to tap into big data insights to better understand how changes in individual financial behaviors affect the economy as a whole, reported Financial Times Wednesday (May 20). Get the...
After years of debates, universities will be prohibited from forcing students to have federal aid dispersed on prepaid or debit cards that charge fees for overdrawing the accounts, according to rules issued Friday by the Education Department. The new set of restrictions could cost schools millions, as...
Wells Fargo Bank is facing allegations that it violated state and federal laws through the misuses of consumer information – as well as failing to notify people when their data was breached. The largest bank based in California faces charges in connection to alleged wrongdoing...
Deutsche Bank has joined the “smaller and simpler” movement. After missing financial targets and facing regulatory problems, the German bank said on Monday (April 27) that it will sell its retail banking business, shrink its investment bank and leave seven of the 70 countries where...
The U.S. Supreme Court will decide whether a website that collects personal data can be sued under the Fair Credit Reporting Act (FCRA) for publishing inaccurate information if the mistakes don’t cause “actual or imminent harm,” the Associated Press reported on Monday (April 27). Get...
MasterCard expects to see increasing demand for its bank-card services now that the Chinese government is opening up the market for interbank transaction clearing services, the card brand’s China chief said last week. Get the Full Story Complete the form to unlock this article and...
According to American Banker, the CFPB has its hands full with so many existing investigations that it has had to pull back on diving into new ones. Get the Full Story Complete the form to unlock this article and enjoy unlimited free access to all...
