Compliance

Lansing, Mich. – The Michigan Credit Union League & Affiliates (MCUL) announced that state legislators on the House Financial Services Committee unanimously passed a six-bill package that will update the Michigan Credit Union Act (MCUA) for the first time in more than a dozen years.

The federal regulator has unveiled a video outlining the framework and implementation process of its recently finalized rule on risk-based capital for credit unions.

Over the last several months much has been made about the New York BitLicense.

U.S. Bancorp has been hit with a consent order regarding deficiencies in its anti-money laundering compliance program.

Mark McWatters has been a member of the NCUA board for one year now, and he says some of the ways the regulator operates still strike him as "odd."

CEOS of midsize banks traveled to Washington recently to seek relief from some of the more onerous regulations that they say are making it harder for them to compete with both big banks and largely unregulated marketplace lenders that are aggressively going after their customers.

Florida overturned a ban on credit card surcharges on the grounds that it violates merchants' free speech. Some lawyers doubt that this unusual strategy has legs, but it has worked in a surprising number of courts.

WASHINGTON — The House passed a massive $340 billion transportation bill on Thursday, striking two key provisions hated by the banking industry while adding several other measures that could affect financial institutions.

The U.S. was one of the last countries to convert to EMV chip cards, at least partly because of the cost involved for the country's massive payments system to replace the easy-to-duplicate mag-stripe cards and halt counterfeit fraud.

WASHINGTON — House Financial Services Committee Chairman Jeb Hensarling, R-Texas, is attempting to add 15 different bills to legislation that would secure funding for transportation projects.