Compliance

WASHINGTON – Sixteen Senate Democrats sent a letter to federal financial regulators on Wednesday asking them to strengthen a proposal to restrict executive compensation at financial firms.

Five banks in Kansas are putting together plans to share a compliance officer. While the move should save money, the banks are fully aware of the risks involved with the potential collaboration.

The piling on at Wells Fargo has reached an unprecedented level, even for a bank. Fifteen investigations are underway into Wells' phony account openings. Experts are quantifying the damage to Wells' reputation and what the bank can do going forward to repair it.

When the San Bernardino shooter obtained a loan online, he reportedly used his real name, which wasn't on the government's sanctions-screening list, underscoring the limitations of identity verification technology.

Thirty CUs have agreed to pay late fines to the Treasury totaling more than $20,000.

First NBC Bank in New Orleans may have avoided one problem only to run into a much bigger issue.

NCUA's new, interactive online Examiner’s Guide from is intended toprovide up-to-date, comprehensive, supervisory guidance that can be updated as new laws and regs take effect.

Corporate culture is difficult to define and document. But bankers have a responsibility to set high ethical standards in the way they pay and promote their employees, according panelists at a New York Fed conference Thursday.

A federal appeals court’s decision that declared the Consumer Financial Protection Bureau an arm of the White House relies on a novel interpretation of the constitution’s separation of powers clause that could have broader effects on how other regulators like the OCC and FHFA interact.

Legal fees for lawsuits against the banks and securities firms that sold the faulty mortgage-backed securities that led to the corporate credit union meltdown have eaten up more than 20% of total recoveries.

A slew of recent cases of misconduct in banking – from both the investment and retail sides of the business – have eroded the trustworthiness of the entire industry, William Dudley, president of the Federal Reserve Bank of New York, said Thursday.

A win by Hillary Clinton would be something of a mixed bag for credit unions. On the one hand, she's a moderate with detailed policies and has pledged to roll back the regulatory burden for CUs. Yet she may also be pushed to the left as she navigates issues, particularly on regulatory appointments.

BancorpSouth in Tupelo, Miss., reported higher third-quarter earnings after net interest and fee revenue improved from a year earlier.

The Consumer Financial Protection Bureau decried an appeals court ruling last week that found its single-director structure unconstitutional, saying the opinion was "wrongly decided" and had "no basis in the text of the Constitution or in Supreme Court case law."

Fiscal Credit Union, Glendale, Calif., on Tuesday said its board of directors is pursuing a merger with UNIFY Financial Federal Credit Union, Torrance, Calif.

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.