Compliance

The transition team for President-elect Donald Trump is considering several candidates to fill key spots at the Department of Housing and Urban Development and Federal Housing Administration, including a home builder and former lender.

The largest denomination of Venezuela’s crippled currency was pulled from circulation before the new, larger-denomination bills were able to enter it, ATMs and wallets are mostly empty, and Christmas is just a little more than a week away.

Although Steven Mnuchin has close ties to Wall Street and was involved in some contentious deals, Democrats face an uphill battle making the case that those connections disqualify him to serve as Treasury secretary.

Several cabinet-level or advisory positions in the Trump administration have gone to executives with ties to Wall Street and for-profit banking, and observers offered a mixed forecast on how that might impact credit unions.

Much of regtech focuses on automating compliance functions, but the human eye is still needed in some cases. Royal Bank of Canada and D+H have developed an assessment tool designed to help employees do their jobs better.

Online shoppers can expect fraudsters to be at the height of their creativity during the 2016 holiday season.

A federal judge heard arguments from ICBA and NCUA on whether to dismiss the banking group's legal challenge to the credit union regulator's changes to the member business lending rule. A decision on the dismissal could come as early as January.

The bulk of NCUA's December board meeting was used to detail the current status of the Corporate System Resolution Program and any potential assessment refunds to be paid to credit unions — though those monies won't show up for several years still.

The Credit Union National Association this week asserted the National Credit Union Administration should wait before instituting a premium to support the National Credit Union Share Insurance Fund.

By making tokenization available on each other's digital wallets, Visa and Mastercard are addressing the security concerns of merchants who are happy to accept both brands but nervous about how their wallets can be misused.