Opinions

Key legislation to protect banks and credit unions serving the legal marijuana industry looks set to move forward in the House this week.

Federal standards “are apt to gum up the works,” says Sen. Cynthia Lummis.

The San Antonio company will no longer charge fees on transactions of $100 or less that take checking account balances into negative territory, as long as the customer has a $500 monthly direct deposit set up.

The Michigan lender agreed in 2012 to pay $133 million to resolve civil fraud charges tied to government-backed mortgages. But the deal with the Justice Department came with a catch that eventually allowed Flagstar to pay far less.

Rep. Andy Barr, R-Ky., has introduced legislation to make it easier for new community banks to open in areas that are underserved by the banking system.

Transaction fraud and money laundering are typically siloed areas within banks, but both require a keen eye to finding the right patterns.

Two people were charged with using a New York state employees credit union to process more than $1 billion in suspect financial transactions while failing to file suspicious activity reports or maintain adequate anti-money-laundering controls.

In a speech, Federal Deposit Insurance Corp. Chair Jelena McWilliams zeroed in on the potential for outdated technology to impede the banking industry and even threaten the sector’s resilience.

The company agreed to pay a $750,000 to address claims it steered consumers into high-cost loans from affiliated lenders. It will also reimburse consumers $646,000 in fees.

The Consumer Financial Protection Bureau's revocation of a Trump-era policy on abusive practices could mean higher fines and penalties for violators. But it still isn't clear what makes a practice abusive.