Compliance

In a panel featuring the four living chairs of the Federal Reserve Board, Janet Yellen said that she does not share Minneapolis Fed President Neel Kashkari's view that the biggest banks need to be broken up – but respects his opinion and the role of regional banks in the Fed system.

A taxpayer's annual refund is a big prize that fraudsters are eager to steal. Many new risks are being introduced by new technology, but there are cross-industry efforts to combat these new schemes and make sure each refund gets to the proper household.

If merchants in the U.S. took a cue from their counterparts in Australia and began making consumers pay a surcharge for credit card transactions, it would attract more backlash than revenue.

Speaking before the Senate Banking Committee, CFPB Director Richard Cordray said fintech companies should be held to the same standards as depository institutions. At the hearing, Cordray fielded questions on payday loans, indirect auto lending and regulation by enforcement rather than rule-making.

Democratic presidential hopeful Hillary Clinton has made reining in the shadow banking system a focal point of her campaign platform, but there are fears that doing so could come with a high price tag for the U.S. economy.

The housing market has been improving but mortgage credit remains "stubbornly" tight on loans bought by the government-sponsored enterprises, according to a chief housing adviser at the White House.

The National Credit Union Administration is hosting a free Webinar on Wednesday, April 27 that will review the latest requirements for compliance with the Bank Secrecy Act and other federal regulations.

Regulators and lawmakers must exercise healthy caution before granting fintech firms preemptive powers via national bank charters or otherwise.

As actions such as Operation Choke Point continue, the government should acknowledge the tension institutions face between serving a community and facing increased regulatory scrutiny.

The FBI is probing allegations of possible financial improprieties at the six Philadelphia-based credit unions liquidated by the National Credit Union Administration (NCUA) earlier this week.