Compliance

The technology holds great promise for financial services, but it could be just as powerful for scammers looking to break payment card encryption. Visa, Mastercard and others are already building new defenses.

The global company says that a quicker-than-expected economic recovery is creating some opportunities to invest in businesses that will generate returns over time.

Banks should let consumers download their account data and transfer it to other financial providers, according to a new presidential order. Some experts argue aggregators are already making this happen, but others say the directive implies more consumer control.

Income share agreements, which allow college graduates to repay tuition financing as a percentage of their future income, have come under fire lately from consumer advocates for questionable marketing and other potential legal violations. Some hope a partnership between a Virginia bank and an ISA provider will give the product more legitimacy, while others worry it just masks risks for borrowers.

The economic forces driving dealmaking will overcome any regulatory risk posed by the president's call for stricter vetting of bank merger applications — especially among community banks, experts say. The White House push could even nudge some executives to cut deals sooner.

The White House is calling on the Department of Justice and federal regulators to give bank deals more scrutiny as part of a broader executive order meant to encourage competition across the U.S. economy.

Morgan Stanley on Thursday disclosed that a data breach at one of its contractors led to the theft of personal information about some customers whose stock accounts had gone dormant.

Fraudsters use different tactics based on their intended victims, and banks like Republic Bancorp and Wells Fargo are targeting the kinds of notices they send — and which channels they direct them to — in response.

Europe has encouraged adoption with rules that put consumers in control of the way their data is shared among banks, fintechs and third-party vendors. Whether the U.S. can make similar progress without its own rules is unclear.

Credit unions have gotten stronger support from their regulators to do business with pot companies, but banking agencies are showing signs of softening just as more states legalize marijuana.