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  • Mortgage deal monitor: Ocwen review may be flawed Tuesday, 16 Dec 2014 | 12:18 PM ET

    WASHINGTON— The monitor overseeing a national mortgage settlement said Tuesday that Ocwen Financial Corp., one of the biggest U.S. servicers of home loans, has produced unreliable information about its business practices. Joseph Smith, who is monitoring banks' and mortgage servicers' compliance with the $25 billion settlement over foreclosure abuses, said...

  • Early Glance: Credit Card companies Tuesday, 16 Dec 2014 | 10:20 AM ET

    American Express Co. fell $1.03 or 1.1 percent, to $89.01. Capital One Financial Corp. fell $1.02 or 1.3 percent, to $78.59. Discover Financial Services fell$. 91 or 1.5 percent, to $60.32.

  • HONG KONG/ SINGAPORE, Dec 16- Standard Chartered is selling its Hong Kong and Shenzhen consumer finance businesses to a consortium that includes a Chinese state firm, helping the emerging markets-focused lender to clinch its biggest asset disposal as part of a restructuring. In what is expected to be the first of many divestitures, Standard Chartered has...

  • In what is Sony's most detailed description on the types of data stolen, the company listed information such as social security numbers, credit card details, bank account information, healthcare information and compensation and other employment-related information. Hackers attacked Sony's computer network last month and released sensitive data over...

  • Final Glance: Credit Card companies Monday, 15 Dec 2014 | 6:08 PM ET

    American Express Co. fell$. 96 or 1.1 percent, to $90.04. Capital One Financial Corp. fell$. 56 or. 7 percent, to $79.61. Discover Financial Services fell$. 58 or. 9 percent, to $61.23.

  • Midday Glance: Credit Card companies Monday, 15 Dec 2014 | 1:43 PM ET

    American Express Co. fell$. 87 or 1.0 percent, to $90.13. Capital One Financial Corp. fell$. 67 or. 8 percent, to $79.50. Discover Financial Services fell$. 38 or. 6 percent, to $61.43.

  • Early Glance: Credit Card companies Monday, 15 Dec 2014 | 12:00 PM ET

    American Express Co. fell$. 34 or. 4 percent, to $90.66. Capital One Financial Corp. fell$. 43 or. 5 percent, to $79.74. Discover Financial Services fell$. 06 or. 1 percent, to $61.75.

  • Dec 5- Three companies have emerged to make a joint bid for Citigroup Inc's credit card business in Japan, the Nikkei reported, as the U.S. lender goes ahead with plans to exit consumer banking in the country. Shinsei Bank Ltd, department store operator Isetan Mitsukoshi Holdings Ltd and credit card service provider JCB Co Ltd want to buy the unit, which offers...

  • TORONTO, Dec 4- Canadian Imperial Bank of Commerce reported a weaker fourth-quarter profit on Thursday, hurt by the loss of some credit card revenue and softer results at its wholesale banking division. Canada's fifth-largest lender said its net income fell to C $811 million, or C $1.98 per share, in the quarter ended Oct. 31, from C $825 million, or C $2.02, a year...

  • WASHINGTON, Dec 3- The Federal Reserve is only in the early stages of developing a set of macroprudential tools to ensure financial stability and faces limits because of the divided nature of U.S. financial sector oversight, Fed governor Lael Brainard said on Wednesday. "While the Federal Reserve has an inherent responsibility for financial stability, it has an...

  • WASHINGTON, Dec 3- The U.S. Federal Reserve is only in the early stages of developing a set of macroprudential tools to ensure financial stability, and faces limits because of the divided nature of U.S. financial sector oversight, Fed governor Lael Brainard said on Wednesday. Her remarks at the Brookings Institution are the most detailed to date by a Fed...

  • NEW YORK, Nov 20- The top federal prosecutor in Manhattan said on Thursday his office was taking a close look at payday lending as part of a broad crackdown on wrongdoing involving the handling of consumer debts. On Wednesday, a Manhattan federal judge sentenced the owner of New York debt settlement company Mission Settlement Agency, Michael Levitis, to nine...

  • NEW YORK, Nov 19- The owner of a New York debt settlement company was sentenced on Wednesday to nine years in prison for his guilty plea in a fraud scheme that authorities say victimized 1,200 people through false promises of relief from credit card companies and banks. Michael Levitis and his company, Mission Settlement Agency, committed crimes that resulted in...

  • TORONTO, Nov 17- JPMorgan Chase& Co said on Monday it notified Sears Canada Inc that it plans to terminate their credit card agreement, in another setback for the retailer. In the event of a sale, JPMorgan would pay Sears Canada up to C $174 million under certain circumstances. Sears Canada and JPMorgan said the bank will service the credit card business until at...

  • SHANGHAI, Nov 13- Chinese bank card operator UnionPay, which may soon have to defend its near monopoly against Visa and MasterCard, faces a much bigger threat from online payment providers such as Alipay, and is upgrading its systems to meet the danger. China said last month it would open its credit card market to foreign players following a World Trade...

  • Nov 10- U.S. officials plan to unveil this week a comprehensive slate of consumer protections for prepaid debit cards, including fee disclosure and limits on overdrafts, the Wall Street Journal reported, citing people familiar with the matter. The U.S. Consumer Financial Protection Bureau's proposed rules, expected on Thursday, will have standards for how...

  • U.S. rules would expand white collar crime informers Monday, 10 Nov 2014 | 11:11 AM ET

    WASHINGTON, Nov 10- U.S. regulators are working on rules that would require investment advisers, credit card firms and check cashers, among others, to serve as informers on white collar crime, a senior U.S. official said on Monday. "If we are to be as effective as possible in countering illicit finance, we must begin applying appropriate record-keeping, reporting and...

  • WASHINGTON, Nov 5- Staffers at the National Association of Manufacturers traded high-fives inside the group's election war room Tuesday night, as pro-business lobbying groups enthusiastically greeted Republicans' victory in retaking control of the Senate. Resurgent Republicans, who solidified their House of Representative majority as well as seizing...

  • TORONTO, Nov 4- Visa Inc and Mastercard Inc have voluntarily agreed to cut the fees they charge to Canadian retailers for credit transactions, the government said on Tuesday, adding it now sees no need to regulate fees set by credit card networks. It said Visa and MasterCard have committed to start implementing the reductions no later than April.

  • Visa to cut credit card interchange fees in Canada Tuesday, 4 Nov 2014 | 8:20 AM ET

    Nov 4- Visa Inc, the world's largest debit and credit card company, said it will cut average interchange fees in Canada to 1.50 percent on consumer credit cards. Visa and smaller rival MasterCard Inc currently charge 2-3 percent on credit and debit card transactions in the United States. If clients are disadvantaged due to the decision, it will terminate or amend...