Compliance

U.S. card issuers lose $10.9 billion each year to card fraud, according to research released Tuesday by LexisNexis Risk Solutions.

The same multichannel shopping and payment experiences that are designed to reduce cart abandonment may also pose hard-to-spot vulnerabilities that can threaten information security.

At a time when most banks are finding it harder to make money from overdraft fees, new data shows that Wells Fargo, Bank of America and JPMorgan Chase are bucking the industrywide trend. The numbers are renewing consumer-protection concerns ahead of a CFPB rule-writing process set to begin later this year.

WASHINGTON — A bipartisan group of lawmakers is urging the Consumer Financial Protection Bureau to change how it calculates title insurance fees as part of the new integrated mortgage disclosures.

The Consumer Financial Protection Bureau filed a lawsuit Monday against payment processer Intercept Corp. and its two top executives for allegedly enabling clients to withdraw millions of dollars' worth of illegal charges from consumer bank accounts.

The Consumer Financial Protection Bureau filed a lawsuit Monday against payment processer Intercept Corp. and its two top executives for allegedly enabling clients to withdraw millions of dollars’ worth of illegal charges from consumer bank accounts.

It has been seven years, and it’s going to take about $16.1 million, but First Reliance Bancshares in Florence, S.C., says it is about to close a key chapter in its post-crisis recovery and is ready to ramp up growth.

The Society for Worldwide Interbank Financial Telecommunication, or Swift, has the ability to oversee security on its network and demand far more of its members to coordinate those efforts. But its current structure may not be the best suited to do that.

To account for the heightened questioning and investigations around the Panama Papers hack, people need to “legal-up” and issuers, financial institutions and processors need to “gear-up” for expected spikes in work related to due diligence, more precise monitoring of transactions, payments and sanctions filtering, possible ad-hoc examination and possible fines.

Comments by JPMorgan Chase's Jamie Dimon have added fuel to the long-discussed idea of a national database that would make it easier for banks to vet customers for anti-money-laundering and other risks.