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The objectives of a Financial Crimes Enforcement Network rule requiring financial institutions to collect “beneficial ownership” details are laudable, but the regulation can be subverted by unscrupulous customers.

Richard Harra was also fined $300,000 for painting a false picture of the bank’s financial health at the height of the financial crisis.

Colony will also gain a loan production office in Atlanta when the transaction closes.

The two institutions had to change their names after a law passed in the Hawkeye State that forbid CUs from using a state university in their names.

The bank’s efforts to show its ethical side may be “undone” by Malaysian scandal; airlines co-branded cards helping profits … for now.

With control of the House changing hands in January, credit unions are set to shift their focus from regulatory relief to cybersecurity and fighting CRA.

The information you need to start your day, from PaymentsSource and around the Web. Today: Amazon improves Alexa's security; Mobile pay leaps in Australia; Ride sharing app Careem diversifies; Belgian transit pay goes to the cloud.

Neither Amazon nor Starbucks could be described as a traditional retailer. But they both use their shared headquarters city as a playground for developing digital and in-store innovations that all merchants and payment companies will have to respond to the years ahead.

It can be difficult for security analysts to pinpoint the abnormal behavior while sorting through huge amounts of data, according to Steve Moore, chief security strategist at Exabeam.

A proposal allowing more lenders to skip outside appraisals could remove a hurdle to quick closings, but appraisers say they could be collateral damage.