Compliance

New York’s banking regulator ordered Habib Bank Ltd. to pay $225 million and surrender its license to operate in the state, effectively removing Pakistan’s largest lender from the U.S. financial system.

Payments startup UTRUST is calling its first step in building a bitcoin and cryptocurrency payments platform with consumer protections a huge success, despite events working against its industry in China.

With a blanket ban on initial coin offerings, China has sidestepped an issue plaguing regulators worldwide: are such tokens securities?

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.

Federal Reserve Gov. Jerome Powell defended a proposal aimed at streamlining information presented to bank boards of directors.

New European standards require greater data sharing to accommodate faster transaction processing, mobile payments and other digital efforts — a trend that is also inspiring new collaborations across the pond.

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.

Compliance experts and CU execs outline changes they still hope the Consumer Financial Protection Bureau will make, even as the rule's implementation date approaches.

A federal regulator has agreed to review an advisory prohibiting Canadian credit unions from using the words "bank" or "banking" in their marketing, but some say it will take more than that before CUs can truly compete with banks there.

In the wake of this weekend's violence in Charlottesville, Va., payments brands are working hard to disassociate themselves from the myriad groups promoting hate. A question that should come to mind right away is: Why were these hate groups even able to work with banks and payments companies as recently as last week?

From IT risk assessments to cybersecurity and CECL, these are the compliance headaches that credit union CEOs and directors can't stop worrying about.

The prepaid card industry already succeeded in getting one delay for complying with new Consumer Financial Protection Bureau rules, and at least one top prepaid card issuer is now requesting additional rule-changes and an extra year to comply.

As new regulations continue unabated, experts weigh in on the top challenges facing credit unions right now, and preparing for new rules coming soon.

If you're writing to regulators, here's how to make sure your comment letters get heard.

Whether it's TRID, the CFPB, courtesy pay regs or other issues, there were no shortage of passionate answers as to the biggest hurdle CUs face.

Picking a new benchmark for adjustable-rate mortgages is the easy part. Industrywide implementation is where things get tricky.

The cashless ATM is meant to make it easier for legal dispensaries and other high-risk stores to accept card payments. But for Alden Linn, owner of World of Weed, it became a hassle.

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.

MoneyGram’s total revenue declined slightly during the second quarter to $410 million, resulting in flat growth compared to the previous quarter based on constant currency.