Illinois’ interchange fee law sets a dangerous precedent
The state’s ill-conceived law banning interchange fees on sales tax and gratuities will be burdensome and expensive to implement and could portend a patchwork of state-level copycat legislation that would balkanize the payments system.
CFPB’s Chopra pans so-called ‘Chopra doctrine’ of expanding authority
Rohit Chopra, the director of the Consumer Financial Protection Bureau, said his tenure at the agency could be characterized as simply reading statutes rather than finding novel ways to enforce regulations.
Wealth management powers big quarter for Morgan Stanley
The New York-based investment bank reported higher revenues across all business lines, with double-digit increases in wealth management and investment banking.
Helping seniors avoid financial scams is just good business for banks
As financial fraud becomes more and more sophisticated, banks need to get proactive about protecting their customers from scammers. This is particularly true of seniors, whose deposits are a key source of banks' core deposits.