Compliance

WASHINGTON -- Federal banking regulators issued a broad proposal Wednesday designed to counteract cybersecurity threats that could hit at the financial industry’s critical junctures.

A strong and dynamic risk detection system requires focusing on the most important blind spots not satisfactorily explained by existing tools, rather than focusing on the "answers" produced by those tools.

Two San Francisco supervisors on Tuesday introduced a resolution that would "end all business with Wells Fargo," in response to the fake account scandal and other practices that have harmed consumers.

Recent moves by the Consumer Financial Protection Bureau, including a plan to regulate payday lending, take away what limited credit options consumers have.

Full $6 billion borrowing line will remain open, but CUs shouldn’t expect refunds of assessments anytime soon.

The Federal Financial Institutions Examination Council reiterated Monday that its cybersecurity assessment tool is voluntary, despite bankers' fears that not using it could put them in hot water with their examiners.

With implementation of a new IRS rule just weeks away, a group of seven financial trade groups, including Credit Union National Association (CUNA) and National Association of Federal Credit Unions (NAFCU), wrote a joint letter to the head of the IRS saying the rule could harm their members' mortgage lending activities.

Australia's banks have submitted a formal statement to the Australian Competition and Consumer Commission slamming Apple.

As a result of the SEC's latest reforms, today's money-market funds are very different products than their precrisis predecessors. Calls for additional layers of burdensome regulation over this industry are unwarranted.

Wells Fargo’s freshly installed CEO made clear Friday that he wants to chart a new course following the revelation that thousands of employees opened phony accounts. But Tim Sloan made few promises about what the megabank will eventually look like.