Supreme Court weighs timeliness of challenge to bank interchange fees
The Supreme Court justices grappled with the question of whether a newly formed company can challenge a regulatory rule after the six-year statute of limitations has expired, a decision that could have broad impact on plaintiffs’ ability to challenge agency rules.
Capital One-Discover merger pits concentration risk against payments competition
The recently announced merger of Capital One and Discover would create a credit card behemoth, but would also create a credible challenger to the Visa/Mastercard duopoly. Regulators will have to choose between having both or neither.
Maggie Lena Walker triumphed in the Jim Crow era
She mixed outspoken activism with business pragmatism, launching a bank that helped hundreds of African Americans buy homes in her longtime community.
It’s past time to rethink bank liquidity for the digital age
It won’t be easy, but implementing a common-sense overhaul of how we measure banks’ liquidity would help avoid the kind of crisis we experienced in 2023.
Pig butchering: The scam that hastened a bank’s failure
A report reveals Heartland Tri-State Bank’s failure last year was due to its CEO being ensnared in a sophisticated investment scam that is taking more victims.
What Capital One would get from buying Discover
If Capital One Financial acquires Discover Financial Services — in a deal that reportedly could be announced this week and would likely draw tough regulatory scrutiny — it would create a credit card behemoth with its own payments network. Analysts say there are many compelling strategic reasons for the combination.
Capital One Weighs Acquisition of Discover
Capital One Financial has been holding talks with Discover Financial Services about a deal, according to people with knowledge of the matter.
Regulators should reexamine their assumptions about brokered deposits
Many deposits classified as brokered are actually very “sticky.” Recognizing that would go a long way toward improving banks’ stability.
Big banks charge higher credit card APRs than smaller issuers, CFPB says
The median interest rate that large credit card issuers charged consumers with good credit in the first half of 2023 was 28.2%, compared with 18.15% at smaller banks and credit unions, according to a study by the Consumer Financial Protection Bureau, which is on a campaign against excessive fees.
Senate Democrats press Zelle parent firm on scam reimbursement policy
Sens. Sherrod Brown of Ohio, Jack Reed of Rhode Island and Elizabeth Warren of Massachusetts asked Early Warning Services, which operates the payment platform Zelle, to clarify its reimbursement policy around impostor scams.