Compliance

With consumers and merchants alike sharing the need to be paid faster, the case for adopting real-time payments globally has quickly advanced during the COVID-19 pandemic.

A commitment to consumer financial protection goes hand in hand with the regulator's safety and soundness mission.

The former chairman of the National Credit Union Administration served at the agency during a crucial time for regulatory reform and credit union growth, though his tenure also had its share of scandals.

Advocates of allowing merchants to add a surcharge to defray the cost of credit card interchange have had to overcome network bureaucracy, state laws and even ingrained habits among the merchants themselves.

The 2020 election has tossed the U.S. Postal Service under extreme scrutiny, pressuring the institution at a time when it has become a potential catalyst for financial inclusion.

The Nashville-based institution is still awaiting regulatory approval on a proposal to operate as a subsidiary of Fortera Credit Union.

The bank has agreed to pay $97 million in customer restitution and a $25 million fine to settle allegations by the Consumer Financial Protection Bureau that it deceptively charged overdraft fees for certain ATM and debit card transactions.

A group of eight Attorneys General filed suit against an FDIC final rule related to ‘rent-a-bank’ partnerships, mirroring a similar suit filed against the Office of the Comptroller of the Currency last month.

Meredith Fuchs, formerly the top lawyer at the Consumer Financial Protection Bureau, says data aggregators like Plaid "have matured." She will help the company prepare for new data-sharing rules and its pending sale to Visa.

Meredith Fuchs, formerly the top lawyer at the Consumer Financial Protection Bureau, says data aggregators like Plaid "have matured." She will help the company prepare for new data-sharing rules and its pending sale to Visa.