Compliance

Banks have used biometrics for about a decade, but there are a number of hurdles that banks, device makers and customers need to overcome before passwords are history.

The Consumer Financial Protection Bureau faces a precarious and uncertain future in 2017 with all eyes focused on two questions: whether President-elect Donald Trump will attempt to fire agency director Richard Cordray and if Congress can successfully restructure the agency by changing its leadership and funding.

With the change in administration and more friendly economic conditions, policymakers should consider greater balance between principles- and rules-based approaches.

While European banks worry about losing revenue because of the new Payment Services Directive (PSD2) requirement for opening up access to application program interfaces (APIs), they will benefit from the coming marketplace of premium APIs.

A 2010 cyberattack targeting the Federal Deposit Insurance Corp. — believed to have originated in China — is reportedly the subject of an FBI investigation.

The Department of Justice is criticizing an appeals court ruling striking down the Consumer Financial Protection Bureau's single-director structure, saying the decision overstepped Supreme Court precedent.

The Community Home Lenders Association is urging the incoming Trump administration to help recapitalize Fannie Mae and Freddie Mac by stopping, at least temporarily, the quarterly profit sweeps that go into the U.S. Treasury.

Opposition is lining up against the Consumer Financial Protection Bureau’s arbitration plan. A Republican-controlled Congress is expected to overturn a final rule even as industry groups file lawsuits to stop it from going into effect. Some attorneys think the arbitration rule-making is already dead on arrival.

WASHINGTON – Senate Democrats are keeping up the pressure on Wells Fargo’s board to answer questions about the fake account scandal.

At a time when individual accountability at corporations is mounting, here is how compliance officers can detect and prevent fraud occurrences within their own firms.