Compliance

With compliance costs on the rise, some banks are looking at sharing staff -- a move CUs have utilized for many years.

WASHINGTON – Sixteen Senate Democrats sent a letter to federal financial regulators on Wednesday asking them to strengthen a proposal to restrict executive compensation at financial firms.

Five banks in Kansas are putting together plans to share a compliance officer. While the move should save money, the banks are fully aware of the risks involved with the potential collaboration.

WASHINGTON – The Treasury Department’s Financial Crimes Enforcement Network issued a reminder to banks that their obligations to report suspicious transactions also extend to certain cybersecurity attacks.

The piling on at Wells Fargo has reached an unprecedented level, even for a bank. Fifteen investigations are underway into Wells' phony account openings. Experts are quantifying the damage to Wells' reputation and what the bank can do going forward to repair it.

When the San Bernardino shooter obtained a loan online, he reportedly used his real name, which wasn't on the government's sanctions-screening list, underscoring the limitations of identity verification technology.

Thirty CUs have agreed to pay late fines to the Treasury totaling more than $20,000.

WASHINGTON — A cybersecurity information-sharing group for the financial services industry has moved forward with a plan to create an arm dedicated to combatting threats to the largest banks.

Blockchain and the 'Internet of Things' are enabling a lot of new payments innovation. In Canada, they're part of a huge project that could radically change ID security for more than just payments.

The U.S. migration has passed the one-year mark, but more key dates are on the horizon.