Compliance

The Federal Open Market Committee agreed unanimously Wednesday to raise the federal funds rate by 25 basis points, a move that was widely anticipated by markets and credit union economists. The committee's expectations for interest rates in 2017, however, were more varied.

Roughly 24 hours ahead of a planned rollout of much awaited -- and much needed -- larger-denomination bolivar bills in Venezuela, banks had yet to receive the new tender on Wednesday, nor was it clear whether the banknotes had even arrived in the country.

Banks should embrace artificial intelligence so that they can more easily navigate policy shifts that will affect their compliance resources and processes.

President-elect Trump faces legal questions over his idea to hold remittances ransom to fund a wall in Mexico, but the industry should take the threat seriously.

Of the five banks that failed their living will tests earlier this year and were forced to resubmit plans, only Wells Fargo failed again, resulting in immediate regulatory action that will restrict its growth, including its ability to expand internationally and buy nonbank subsidiaries.

Venezuelans were wearily rushing to deposit bank notes or dump their cash savings entirely on Monday following an announcement by President Nicolas Maduro that he was invalidating the country’s biggest bill because of what he says is an attack on the nation’s liquidity.

The Federal Housing Finance Agency finalized a rule Tuesday that will create a "duty to serve" for Fannie Mae and Freddie Mac to help low- and moderate- income consumers, including encouraging a secondary market for manufactured housing loans.

The credit union has assets of just $56,000, and lost more than $2,000 during the first three quarters of 2016.

Federal banking regulators are dismissing claims that they are pressuring banks to cut ties with payday lenders, arguing that the lenders' recent request for a court order against the agencies rests on erroneous speculation and bad legal arguments.

The new chairman of Republic First was famously ousted from Commerce Bancorp because of conflict-of-interest concerns years ago. His new bank uses some Hill-related companies for marketing and other services but says that it has structured the relationship in a way that passes muster with regulators.

Already defending itself against a suit challenging its member business lending rule, the credit union regulator now must grapple with a challenge to field of membership regulations. Some observers suggest the scope of the legal is unprecedented.

WASHINGTON — The political independence of the Consumer Financial Protection Bureau may end not with a bang — after a protracted battle in Congress — but with a whimper, the victim of a bureaucratic rule that prevents the agency from appealing a pending court case to the Supreme Court.

Legacy systems will be pressured in the year ahead to keep ahead of e-commerce, international regulations and other emerging risks.

Customers Bancorp of Wyomissing, Pa., has entered into a cease-and-desist order with the Federal Reserve related to the student disbursements business it bought from Higher One Holdings. It also agreed to pay a civil penalty of $960,000.

Rising interest rates are a near certainty, analysts say, but plenty of unknowns remain, including how populist movements in Europe might impact the global economic picture.

Banking and credit union trade groups are urging Congress to consider repealing any upcoming Consumer Financial Protection Bureau rules governing arbitration, payday lending, debt collection and prepaid cards by using its authority under the Congressional Review Act.

The American Bankers Association has filed a lawsuit against the National Credit Union Administration, arguing that the regulator's new field-of-membership rule go too far.

As expected, the American Bankers Association has filed a legal challenge against the credit union regulator’s recent overhaul of FOM rules, even as the agency is working on additional reforms.

The Consumer Financial Protection Bureau and its director Richard Cordray are on a collision course with President-elect Donald J. Trump in what could become a legal showdown over the limits to executive power.

The Consumer Financial Protection Bureau is planning to finalize its rulemaking on arbitration in early 2017, though it is unclear if the controversial regulation can be completed before President-elect Donald Trump takes office.