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Nellie Liang, director of the Federal Reserve's Division of Financial Stability, has announced her retirement after 30 years with the central bank.

The settlement underscored how incentives and sales goals led employees to illegally open new accounts, transfer customer money to the accounts, and create PIN numbers and emails without customers' authorization, regulators said.

The Federal Financial Institutions Examination Council has released updated cybersecurity guidance for examiners at financial institutions.

The Federal Financial Institutions Examination Council has released updated cybersecurity guidance for bank examiners.

While much of fintech over the last few years has been about improving the front end of banking, the focus is now shifting to streamlining the back office.

The Financial Accounting Standards Board's accounting rules for credit risk have good intentions, but a likely amplification of the ups and downs of the credit market was probably not one of them.

Severn Bancorp in Annapolis, Md., has redeemed the last shares tied to the Troubled Asset Relief Program.

Receiving Wide Coverage ...Incentive to cheat?: Wells Fargo was hit with the largest penalty in the history of the Consumer Financial Protection Bureau to settle charges that thousands of employees created unauthorized bank and credit card accounts for customers in order to collect bonuses for themselves. The company fired 5,300 employees as a result. The bank agreed to pay a $185 million regulatory enforcement action plus another $5 million in customer remediation. Wells' own analysis found that thousands of its employees had signed up customers for more than 1.5 million deposit accounts and more than 565,000 credit card accounts without their knowledge or consent. They also issued debit cards without customers' approval, including issuing PINs and creating phony email addresses. "The settlement underscored incentives and sales goals led employees to illegally open new accounts," American Banker reports.

It was inevitable that someone would try to add up those extra seconds it takes to perform an EMV transaction, and when Cayan did it concluded that EMV is forcing U.S. consumers as a whole to spend years in extra time at the register.

It’s well known that blockchain technology decentralizes decision making and fosters decision by consensus.