It's not just big banks. Even U.S. community banks may be subject to the General Data Protection Regulation given the boundlessness of digital commerce.
The Upstart Network's CEO, Dave Girouard, explains how the online lender worked with a normally aggressive federal regulator to balance the needs for innovation and consumer protection.
The 3-year-old order was related to Discover Bank’s programs for combating money laundering. A related agreement with the Federal Reserve Bank of Chicago remains in effect.
Powell downplayed fears about subprime auto lending, saying he aims to improve Santander Consumer's compliance culture, beef up customer services and expand its relationship with Chrysler Capital.
The credit card issuer paid $95 million to settle charges it offered inferior terms to customers in American territories; Mitsubishi UFJ wants to become a top 10 U.S. bank.
PHH Corp. will pay the Justice Department $75 million to settle a False Claims Act investigation of its underwriting practices on government-insured mortgages and loans sold to Fannie Mae and Freddie Mac.
