Organization Root Tag

PHH Corp. agreed to a $45 million settlement to resolve allegations from 49 states and the District of Columbia that it engaged in "foreclosure process abuses" involving "inconsistent signatures" in its servicing business from 2009 to 2012. The settlement comes as the nonbank mortgage company continues its legal challenge to a separate regulatory action by the CFPB.

Rep. Emanuel Cleaver, D-Mo., has emerged as one of the most outspoken members of Congress when it comes to fintech, both embracing its potential and calling for regulatory guardrails.

The payments industry is getting pulled in two directions, as technology and e-commerce promise a borderless future for transactions while political forces apply the brakes.

The aim is not just to get consumers to act on a credit card offer or open a savings account, but to use the insight gleaned from data to build long-term relationships.

Cybersecurity systems, as sophisticated as they are, are clearly not doing the job. And maybe they never will, given that in the end the effectiveness of those systems can be overridden by workers inside the organization, writes Tal Vegvizer, director of research and development for Bufferzone.

The two payments companies failed to win U.S. government approval for their merger; the head of the Senate Finance Committee says he will leave when his term ends.

For payments to keep up, merchants need to focus on the shift to subscriptions and the true personalization of processing, writes Suneera Madhani, CEO and founder of Fattmerchant.

The Consumer Financial Protection Bureau featured in three of our most read articles of last year, while two others were about the disruptor Ripple. Other highlights included our annual Women in Banking package, the aftermath of the Equifax data breach and news of Amazon's possible banking plans.

Commercial customers, including small businesses, seem ready to pay up to shift to faster, more sophisticated electronic invoicing and payments, and enterprising banks that provide them the technology to do so could find it lucrative.

The Office of the Comptroller of the Currency said Tuesday that Norman Williams will oversee the three research and analysis divisions that assess financial and economic risks to banks.

After a year of trying to appease U.S. regulators, Ant Financial and MoneyGram have terminated their merger agreement, challenging the Chinese company's strategy for global expansion.

The Lower East Side People’s Credit Union filed a suit against President Trump over his appointment of Mick Mulvaney as the CFPB's acting director.

The banks announced bonuses, wage hikes and charitable contributions resulting from the lower corporate tax rate enacted by Congress.

If acting CFPB Director Mick Mulvaney ultimately prevails in the lawsuit challenging his position, he is expected to continue implementing the most significant changes to the agency in its six-year history.

Fannie Mae's serious delinquency rate climbed to a high not seen since March 2017, but remained lower than it was 12 months prior.

The rise of e-commerce is hollowing out shopping malls and strip centers, but it is also creating new interesting opportunities for commercial real estate developers and lenders.

Finding a perfect candidate could be tricky. Because the New York Fed oversees banks and operates in markets, someone with Wall Street experience is ideal — yet at the same time, it’s important to find a candidate who isn’t beholden to the banks. Some advisers are pushing for a woman or a minority to be appointed.

The assessment from the central bank means MidSouth faces restrictions on board appointments and executive duties. Last year the OCC called the Louisiana company a "troubled institution."

But bank will benefit long-term from tax reform; judge says accounting firm failed to detect mortgage fraud that did in Colonial Bank.

The recent explosion of activity around biometrics and other new forms of authentication should seem like a good thing for the development of connected commerce. But right now it's more of a wild west that needs to be tamed.