Compliance

ALEXANDRIA, Va. – The National Credit Union Administration said it issued six orders in January prohibiting the following persons from participating in the affairs of any federally insured financial institution:

HSBC said a cyber attack temporarily shut down its Internet banking on Friday, the second time the bank's online services have been disrupted in the U.K. this month.

The potential for more convergence between financial products and physical products raises a whole host of data and privacy issues that banks must deal with proactively.

Many people in the payments industry believe stolen payment card industry data will diminish in its black market value as EMV approaches ubiquity across U.S. retailers. That's not the case.

Bank of America announced Thursday that it customers can now suspend their debit cards temporarily; it is the first of several new features the bank has planned for 2016 after it tripled its digital banking budget.

Outsourcing has allowed CUs to offer broader services and improve convenience, but it also adds a complex risk dimension for credit unions to manage.

Alexandria, Va. – Twenty-two credit unions have agreed to pay civil monetary penalties for filing their third-quarter call reports late, the National Credit Union Administration said Wednesday.

WASHINGTON – Risks to financial stability have risen in the past year across several key areas, the Treasury Department’s Office of Financial Research said in a report to Congress issued Wednesday.

Wendy’s Co., the third-biggest U.S. burger chain, is investigating reports of unusual activity with payment cards used at some of its 5,700 domestic locations.

Banks that prioritize structural changes in their compliance process will make risk frameworks more effective and sustainable over time.