Compliance

Wells Fargo chief Tim Sloan on Thursday downplayed the financial damage from the bank's phony-accounts scandal and insisted there is still a role for cross-selling if conducted properly.

The guidebook is a project of the regulator’s Small Credit Union Learning Center.

No matter the outcome of the divisive 2016 election, the many regulations still in the pipeline from financial regulators are not going to come to a screeching halt when the next president takes the helm in January. But of the various agencies, the one most vulnerable to change is the National Credit Union Administration.

Payments technology is showing up in places that were unimaginable just a few years ago. That creates new opportunities for merchants and banks, but also new opportunities for fraudsters.

While some banks allow existing customers to pay by selfie, BBVA is using them to get new customers.

Ransomware attacks are on the rise, as cybethieves find other types of exploits less profitable and bitcoin helps them cover their tracks. Banks must strategize how to avoid becoming victims – or, failing that, mitigate the damage.

Among the troubles for Rush Credit Union are missing money, mysterious deeds to foreign properties and a car raffle that may have been rigged.

We asked experts in the payments industry what business issue they would like to eliminate in the year ahead. Here is what they had to say.

Even if the court does dismiss the suit, the banking trades are widely believed to be prepping another lawsuit against the regulator, this time attacking the recently approved updates to NCUA’s field of membership rule.

The regulator’s settlement with Nomura is tied to the failures of two corporate credit unions, though Nomura did not admit fault as part of its settlement.