Compliance

Candi Wolff of Citigroup and Anita Eoloff of Wells Fargo are two of the most powerful banking lobbyists in the nation’s capital, but they don’t think the transformation of their once male-dominated field is done, nor do they think everything about the past should be abandoned.

The national CU trade associations and state leagues all have differing methods of how they distribute their political fundraising dollars, but all agreed that any candidate that supports credit unions is a candidate worth supporting.

Lisa McDougald, the deputy general counsel at the $222 billion-asset BB&T in Winston-Salem, N.C., and Leon Holschbach, chief executive at Midland States Bancorp, a $3 billion-asset company in Effingham, Ill., were appointed to the board this summer.

Yahoo says no bank account or card data has been compromised in its massive data breach. Yet hackers could use their ill-gotten personal information about customers to mess with bank accounts.

The Consumer Financial Protection Bureau filed a lawsuit this week against a Van Nuys, Calif., credit repair company for deceptively marketing its services and charging consumers illegal fees.

Consumers using PayPal to complete an e-commerce transaction on a Lenovo laptop computer will be able to use an embedded fingerprint reader instead of a static password.

Financial services IT teams must think like cybercriminals and develop an offensive approach to security at a time when threats are growing in frequency and sophistication.

The U.S. shift to EMV-chip card security hasn't been smooth. Many companies saw the card networks' Oct. 1, 2015 fraud liability shift date as a starting point rather than a deadline, and even the companies that thought they would be unaffected by the EMV transition found themselves dealing with major headaches.

A compliance-at-all-costs mentality, which is the overarching attitude in many banks, results in overspending and overallocating valuable resources to meet both real and perceived compliance standards.

A mix of lawmakers, regulators and industry stakeholders discussed reforming Dodd-Frank and other hot topics at the National Association of Federal Credit Union’s conference on Capitol Hill.