Compliance

The OCC said Thursday that the bank has yet to fully meet the conditions of a 2012 consent order requiring it to address problems in its Bank Secrecy Act and anti-money-laundering compliance programs.

In adding Martin Pfinsgraff, until recently the OCC's deputy comptroller for large-bank supervision, and retired Air Force Brig. Gen. Linda Medler, a cybersecurity expert, the regional bank says it is trying to build a board with expertise in fields of timely interest.

The people-helping-people model proffered by LendingClub and others quickly foundered, but several startups aim to bring it back with the help of distributed ledger technology.

The company sold securities in the fourth quarter to stay below $10 billion in assets and avoid a cap on interchange fees.

The world’s biggest chipmakers and software companies, including Intel Corp. and Microsoft Corp., are coming to grips with a vulnerability that leaves vast numbers of computers and smartphones susceptible to hacking and performance slowdowns.

The railroad industry executive will replace Raymond Fortin as general counsel.

American Express Co. said it expects recently passed changes in U.S. tax laws will reduce fourth-quarter earnings by about $2.4 billion, resulting in a net loss for the period.

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.

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 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.