Retailers including Wal-Mart Stores Inc. and Target Corp. were handed a defeat by a U.S. appeals court, which upheld Federal Reserve rules governing how much banks can collect for debit-card transactions.
U.S. banks are seeking to shield from scrutiny the $30 billion they collect annually in checking- account fees, saying a proposed requirement for periodic reports is unacceptable even if it exempts small institutions.
Automobile dealers who three years ago won an exemption from direct oversight by the U.S. Consumer Financial Protection Bureau have found that it still has a lot of clout over how they finance car sales.
Some consumer credit-card complaints haven’t reached banks that issued the cards because of technical problems in the new system created by the Consumer Financial Protection Bureau, industry groups and regulators said.
One year after the U.S. Consumer Financial Protection Bureau began operating as an independent agency, Director Richard Cordray says it has achieved one of its chief goals: getting Wall Street to pay attention.
A court ruling last month cast doubt on the legality of the fledging U.S. consumer bureau and its director. Ever since, opponents have expressed hope that Senator Elizabeth Warren -- the agency’s most ardent champion -- might agree to trim its powers in return for its survival.
Congress should consider slowing funding for the Navy’s Littoral Combat Ship because the Pentagon is buying vessels faster than it can test their design and performance, according to a Government Accountability Office report.