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Receiving Wide Coverage ...How long?: Wells Fargo CEO John G. Stumpf told the Senate Banking Committee the bank's pervasive pattern of illegally opening banking accounts without its customers' permission may have gone on even longer than previously believed. "Although the bank has traced the illegal account openings to 2011, it is investigating whether they may have begun even sooner," Stumpf told the panel, according to the New York Times. Stumpf said he found about the situation in 2013, with the board the board being apprised in 2014. "It was not fast enough, not far enough," Stumpf said. "I apologize for that."

Swift is taking another step to protect the payment system following a multimillion-dollar cybertheft early in the year.

Policymakers repeatedly said during a Senate Banking hearing Tuesday that Wells' mistakes couldn't be blamed — as the company maintains — just on rogue employees. Instead, they see a cultural problem at the San Francisco bank and wonder whether it extends beyond Wells Fargo.

Credit union analysts are skeptical of the chances for CFPB reform following the Wells Fargo fiasco, but they are also optimistic that it could spur another Bank Transfer Day-style opportunity for CUs.

The fallout from the banking giant's fraudulent practices has some wondering whether or not CUs might be wise to reexamine their own cross-selling strategies.

Replacing gas pump hardware is a big, disruptive move for any fuel seller, but with the sector's EMV liability shift only a year away, more companies are facing the inevitable.

The tighter processing deadlines of same-day ACH mean that conventional fraud prevention measures will no longer be adequate or effective.

Cloud-based technology is bringing mobile shopping and payments to more companies, but it also increases risk due to the complexity of how these more open and remote technology tools get used.

Swift is taking another step to protect the payment system following a multimillion-dollar cybertheft early in the year.

WASHINGTON — A Republican lawmaker is urging the Office of the Comptroller of the Currency to consider issues related to virtual currency companies as the agency develops a fintech regulatory framework.