BankThink

Editor's note: Morning Scan will publish next on Jan. 3, 2017. Happy holidays from all of us at American Banker and SourceMedia.

Fraud involving third parties and advance fees can be vexing for merchants. But doing lots of homework can mitigate the threat.

At a time when individual accountability at corporations is mounting, here is how compliance officers can detect and prevent fraud occurrences within their own firms.

Had Wells Fargo simply complied with regulatory guidelines on multifactor authentication across all channels, there would have been substantially less fraud.

Receiving Wide Coverage ...Pay up: The European Court of Justice ruled that Spanish lenders must reimburse mortgage borrowers for charging them excess interest payments on variable-rate mortgages. The ruling, which can't be appealed, follows a 2013 decision by Spain's highest court that outlawed "mortgage floor" agreements on loans because banks didn't pass along the savings from low rates to customers. The ECJ confirmed the Spanish court decision but also said borrowers could seek reimbursement for all excess payments dating back to 2009 when the loans were introduced. Under the ruling, Spanish banks may have to refund 4.5 billion euros, or about $4.68 billion, to customers. Wall Street Journal, Financial Times, New York Times

The migration has been slow, but COOP Financial Services says there's momentum for adoption and usage. There are also signs that card fraud risk is improving.

The National Credit Union Administration acted appropriately, within its legal authority, when issuing its member business lending rule.

President-elect Donald Trump has threatened retaliatory tariffs on China if they cheat on their trading obligations. A good place to start would be China’s payment card market.

Most of the focus for electronic deposits is on mobile-based solutions, but credit unions shouldn't neglect to develop an online solution for use with a desktop computer and scanner.

With identity management now established as a distinct industry, it needs an organization to nurture its practitioners like those that exist for the privacy and security sectors.