Compliance

The ramifications for a U.S. Court of Appeals decision against the CFPB’s constitutionality go far beyond just the agency’s independence, and may have consequences for other federal agencies with similar structures. The ruling may also hamper the CFPB’s powers going forward, including its ability to retroactively apply new rules.

WASHINGTON — Navy Federal Credit Union, the largest credit union in the country, agreed Tuesday to pay $28.5 million to settle regulatory allegations it engaged in illegal debt collection practices.

Fintech circles are abuzz about the possibilities for streamlining compliance work following IBM's deal to buy Promontory. Artificial intelligence software could help separate false positives from true violations, for example, or read and parse through lengthy regulations.

The single-director structure of the Consumer Financial Protection Bureau represents an unconstitutional concentration of executive power, a federal appeals court said Tuesday. But the court stopped short of disbanding the agency, instead giving the president more power to remove its leader.

There’s a new hacker group on the rise using banks’ Swift credentials to facilitate their cyberheists.

ATM operators have been down this road before, dealing with Mastercard's rules on EMV transactions occurring with the international Maestro debit cards as far back as 2013. But awareness and experience doesn't automatically translate to preparation.

In an age in which organizations such as Swift are subject to attack, traditional perimeter security defenses are no longer enough to stop attackers from getting into the system and stealing valuable information.

Birthday greetings from Facebook friends are far more dangerous than many consumers realize.

The credit union division at the Illinois Department of Financial and Professional Regulation (IDFPR) received certification of accreditation from the National Association of State Credit Union Supervisors (NASCUS).

Credit unions and banks already scrambling to comply with a number of different federal cybersecurity standards are raising concerns about a proposal from New York to layer on some additional state rules.