Compliance

Federal Reserve Chair Janet Yellen said she is advising the incoming Trump administration not to roll back the improvements in bank safety and soundness enshrined in Dodd-Frank, but acknowledged that recent scandals "certainly suggest there is room for improvement" when it comes to bank culture.

The industry finally sees a bit of an opening in its effort to roll back the 2010 law that capped fees on debit card transactions. But opposition from the retail sector will be fierce.

The Federal Open Market Committee agreed unanimously Wednesday to raise the federal funds rate by 25 basis points, a move that was widely anticipated by markets and credit union economists. The committee's expectations for interest rates in 2017, however, were more varied.

The percentage of EMV transactions in the United States is miniscule compared to other parts of the world, but the migration to chip cards in the U.S. is lifting the technology's global growth — now at 42.4% of all card transactions.

Russian authorities have handed over an American fugitive who the U.S. accuses of conspiring to organize the largest known cyber attack on Wall Street, according to people familiar with the matter, resolving months of negotiations at a moment of high tension over hacking between Moscow and Washington.

Roughly 24 hours ahead of a planned rollout of much awaited -- and much needed -- larger-denomination bolivar bills in Venezuela, banks had yet to receive the new tender on Wednesday, nor was it clear whether the banknotes had even arrived in the country.

Banks should embrace artificial intelligence so that they can more easily navigate policy shifts that will affect their compliance resources and processes.

President-elect Trump faces legal questions over his idea to hold remittances ransom to fund a wall in Mexico, but the industry should take the threat seriously.

Of the five banks that failed their living will tests earlier this year and were forced to resubmit plans, only Wells Fargo failed again, resulting in immediate regulatory action that will restrict its growth, including its ability to expand internationally and buy nonbank subsidiaries.

As online shopping and card fraud increase, startups offering easy-to-use “burner” cards could see strong traction.