Policy & Regulation

In hundreds of cases, the prepaid card program run by the bank allegedly sent users’ funds to fraudsters who had stolen their data. The security lapse has now caught the attention of the Democratic senator.

As silos complicate know your customer compliance and onboarding, low-code technology can provide a boost, according to Reetu Khosla, global head of life-cycle management and KYC for Pegasystems.

The consumer bureau’s interim chief told an industry conference that “regulation by enforcement is done.”

The regtech firm Arachnys, which recently raised $10 million from QED Investors and others, draws from a collection of 23,000 data sources to help banks protect themselves from money launderers and other criminals.

College prospects cite the financial crisis as one reason they are passing on community bank jobs to join fintechs.

The Federal Housing Finance Agency, Fannie Mae and Freddie Mac have launched an online clearinghouse with resources to assist lenders in serving borrowers with limited English proficiency.

Policymakers must avoid reforms to the Community Reinvestment Act that would reopen the door to the predatory lending practices that contributed to the mortgage meltdown.

The legislative highlights of his career as House Financial Services Committee chairman were bills too extreme to become law. But the retiring lawmaker says they were still worth pursuing.

Several female executives accepted leadership roles throughout the industry and in regulatory roles during the past month.

Federal regulators shuttered the institution, which had just $3 million in assets, after it became insolvent with no viable path forward.