Compliance

Mobile wallets are poised to dramatically change the payments landscape, but what is holding them back from seeing more rapid adoption?

Artificial intelligence like IBM's Watson may not make bank compliance officers obsolete, but it could mean far fewer of them will be needed in the future, focused on higher-level tasks.

Community bankers are showing renewed interest in consumer lending but admit they may be losing ground to more tech-savvy players, according to a survey released Thursday.

WASHINGTON – More than one hundred House Democrats sent a letter to Consumer Financial Protection Bureau Director Richard Cordray on Wednesday calling for the agency to strengthen its proposal to rein in payday lending.

The Consumer Financial Protection Bureau's proposal not only requires lenders to determine a borrower's ability to repay, but also forces creditors to follow the bureau's approach to making that determination.

The U.S. Supreme Court will take up a free-speech clash with big stakes for retailers and credit-card companies, agreeing to decide the fate of laws in 10 states that limit how merchants can describe the lower prices they charge for cash transactions.

Three Democratic senators led by Sen. Elizabeth Warren, D-Mass., have asked the Securities and Exchange Commission to investigate whether Wells Fargo and senior officials violated laws by misleading investors and firing whistleblowers while the bank oversaw the creation of 2 million phony accounts.

The Department of Justice wants banks to more fully cooperate with civil investigations. Companies now are expected to "materially assist" the agency in providing documents, access to witnesses and even inculpatory documentary evidence such as emails and text messages.

Federal Reserve chair Janet Yellen testified for the second consecutive year on regulatory issues, the fate of Wells Fargo and whether the central bank acts in a political fashion.

The National Credit Union Administration on Tuesday said it will receive $1.1 billion to settle legal claims against Royal Bank of Scotland related to the sale of faulty mortgage-backed securities to two corporate credit unions.