Opinions

A new rule allowing people with long-ago criminal convictions to find employment at credit unions is good for both the industry and for society at large.

U.S. Attorney Philip R. Sellinger said Oscar Marcelo Nunez-Flores, a New Jersey bank staffer of a bank unnamed in case documents, was arrested Wednesday after he allegedly took bribes to launder millions in drug money to Colombia.

A $35 million capital bump from a once-hostile investor group may have helped the Philadelphia bank avoid collapse. Still, it reported $30 million of quarterly operating losses and heavy securities risk in a recently filed call report.

The FDIC had sought bids for the bank on Oct. 23, but told potential buyers two days later that it would delay making a decision until this week, said the people, who asked to not be identified because the matter isn't public.

A federal court extended an injunction that halts the Consumer Financial Protection Bureau's rule until the Supreme Court rules on the bureau's constitutionality.

As the government weighs changes to interchange, Michael Miebach voiced his displeasure during the company's earnings call.

As financial institutions increasingly rely on artificial intelligence for anti-money-laundering and fraud detection, they face challenges in meeting regulators' demands for complete transparency and documentation.

The final Community Reinvestment Act rule notably expands the definition of "large" banks to include banks with at least $2 billion of assets, requiring more banks to comply with the updated rules. That expanded scope is a feature, not a bug.

The card network integrated its data-sharing technology into products from Zip, FIS and JPMorgan Chase as potential regulations loom on the horizon.

After years of discussion among regulators, the Federal Reserve Board has approved changes to its CRA rules that will base compliance exams on where lending occurs rather than branch locations. The updates — set to take effect in January 2026 — also emphasize lending in lower-income areas as well as community development loans and investments.