Compliance

Trump's election raises a lot of issues for the financial services industry, particularly for companies that operate internationally or rely on emerging technology. Here are a few areas Trump's presidency is likely to disrupt.

President-elect Donald Trump might attempt to remove Consumer Financial Protection Bureau Director Richard Cordray from his post and boost legislative efforts to weaken its powers.

While credit unions will be pleased to see voters reined in attempts by legislators to impose taxes on certain services CUs provide, they'll be looking for an expected legal challenge to a separate ballot measure that would prevent them from making political contributions in future.

The Consumer Financial Protection Bureau faces an uncertain and precarious future under President-elect Donald Trump, who some say might seek to oust Director Richard Cordray and boost legislation to significantly weaken the agency.

President-elect Donald Trump might attempt to remove Consumer Financial Protection Bureau Director Richard Cordray from his post and boost legislative efforts to weaken its powers.

The Director of the Michigan Department of Insurance and Financial Services (DIFS) has appointed the National Credit Union Administration (NCUA) as conservator of Valley State Credit Union, a $22-million institution based in Saginaw, Mich.

To jawbone Mexico into paying for the wall, President-elect Trump has threatened to suspend remittances. Such a move would disrupt one of the busiest corridors of money in the world.

Credit union professionals and observers offered advice for the president-elect, as well as their expectations on what the next four years might hold for the industry.

Tesco Bank in Edinburgh, Scotland, has refunded 2.5 million pounds (about $3 million) to 9,000 customers who were affected by a large-scale online banking cybertheft last weekend.

With Republicans holding control of Congress and the White House, credit union advocates expect a focus on reg relief, including changes to Dodd-Frank, the CFPB, the NCUA and more.