Risk management

JPMorgan Chase was warned by its compliance team over the “great risk” of corruption just days before it made the last of three transfers that totaled $875 million to a former Nigerian oil minister.

“You all will not let me breathe” is just one example in the CFPB’s complaint database where a consumer likened alleged mistreatment by a financial institution to social injustice. An artificial intelligence firm uses technology to help companies flag such language.

Credit unions are warning members that fraudsters are trying to prey on them by asking for data in exchange for appointments that turn out to be bogus.

Citigroup, the world’s largest credit card issuer, is looking to jump-start efforts to acquire new cardholders after the pandemic caused it to curtail such activities last year.

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 Chair Jelena McWilliams zeroed in on the potential for outdated technology to impede the banking industry and even threaten the sector’s resilience.

Mastercard is updating the requirements it sets for banks that process payments for sellers of adult content.

As more states legalize online gambling, the credit union is preventing members from using their credit and debit cards on those sites. Others could follow its lead.

President Biden plans to direct his administration to develop a strategy on climate-related risks for public and private financial assets, according to a draft document seen by Bloomberg News.

Like their counterparts in the U.K., U.S. regulators should be working closely with the private sector to establish principles and guardrails to direct and focus tech advancements in ways that will protect consumers and financial stability.

Shares of the company advanced after it issued a statement about the bank’s prime-brokerage relationship with the family office.