Compliance

Mortgage lenders impose steep pricing adjustments for cash-out refinancing; bankers fear massive borrower fraud in the Paycheck Protection Program; some worry the coronavirus is giving banks an excuse to spy on employees; and more from this week's most-read stories.

Citing a need to better serve its customers in the future and also boost the image of the XRP cryptocurrency, Ripple announced this week it was joining the ISO 20022 standardization committee.

The push to revive the District charter began in 2001, nearly 40 years after the original rule was repealed and CUs there adopted the federal charter.

When the coronavirus pandemic began, Square pushed hard to get a bigger share of merchants' online sales and consumers' stimulus spending — and even received its long-desired bank license — but found that this wasn't enough to offset the effects of the crisis.

Regulators need to give more detailed guidance on the coronavirus relief program for small businesses so lenders don’t get trapped in underwriting mistakes down the road.

Banks tend to pull back in times of crisis by tightening credit and focusing on collections efforts. But consumers, and not returns, must be the focus during the coronavirus pandemic.

Recent breaches and a pandemic-driven strain on cloud computing seemed to prompt a regulatory warning that banks, tech vendors and cloud hosts share an obligation to safeguard customer data — no matter where it resides.

Rodney Hood, chairman of the National Credit Union Administration, told the Financial Accounting Standards Board that complying with the Current Expected Credit Losses standard could adversely impact the industry's net worth.

The bureau issued an interpretive rule clarifying that consumers under certain conditions can modify or waive waiting periods required by the Truth in Lending Act and Real Estate Settlement Procedures Act.

Facebook’s Libra cryptocurrency has been climbing uphill from the start, losing many prominent partners along the way — though the recent addition of Checkout.com will partially make up for those setbacks.