Compliance

New monthly reporting from CUNA Mutual Group and NAFCU shows that while membership and lending gains remain strong and steady, credit unions should expect compliance costs to continue to increase as more regulatory experts are needed at credit unions.

Meta Financial in Sioux Falls, S.D., has agreed to buy most of the assets and liabilities for a company that handles transactions for tax preparers.

While the Wells Fargo scandal might offer marketing opportunities for community banks, there is concern about regulatory fallout that fails to distinguish between large and small banks.

Wells Fargo Chief Executive John Stumpf’s two disastrous appearances on Capitol Hill are boosting calls for him to resign – and many analysts are wondering whether the embattled executive will be able to keep his job.

Wells Fargo Chief Executive John Stumpf's two disastrous appearances on Capitol Hill have fueled calls for him to resign — and many analysts are wondering whether the embattled executive will be able to keep his job.

Julie Stackhouse, head of supervision at the Federal Reserve Bank of St. Louis, discusses the insights that resonated at the regulator's recent community banking conference — some encouraging for the future of small financial institutions, others less so.

A bipartisan group of House lawmakers sent a letter to the Consumer Financial Protection Bureau on Thursday expressing concern about the agency's proposal to rein in payday lending and other short-term credit, warning it could hamper credit availability.

Shiv Govindan at Pilgrims & Indians Capital has kept a relatively low profile as a bank investor. But two key board appointments at struggling community banks promise to make him a more visible player in the industry.

Restoring consumer confidence in financial services won't be easy after the latest banking brouhaha, but the Consumer Financial Protection Bureau can help by proactively holding all mortgage loan officers to the same federal licensing standard.

A year after the U.S. EMV liability shift kicked the country's migration into high gear, there are still major hurdles to widespread adoption. The shift took effect Oct. 1, 2015, placing liability on the party unable to handle EMV security, but even this incentive wasn't enough to get everyone on board at the same time.

Artificial intelligence like IBM's Watson may not make bank compliance officers obsolete, but it could mean far fewer of them will be needed in the future, focused on higher-level tasks.

Community bankers are showing renewed interest in consumer lending but admit they may be losing ground to more tech-savvy players, according to a survey released Thursday.

WASHINGTON – More than one hundred House Democrats sent a letter to Consumer Financial Protection Bureau Director Richard Cordray on Wednesday calling for the agency to strengthen its proposal to rein in payday lending.

The Consumer Financial Protection Bureau's proposal not only requires lenders to determine a borrower's ability to repay, but also forces creditors to follow the bureau's approach to making that determination.

The U.S. Supreme Court will take up a free-speech clash with big stakes for retailers and credit-card companies, agreeing to decide the fate of laws in 10 states that limit how merchants can describe the lower prices they charge for cash transactions.

Three Democratic senators led by Sen. Elizabeth Warren, D-Mass., have asked the Securities and Exchange Commission to investigate whether Wells Fargo and senior officials violated laws by misleading investors and firing whistleblowers while the bank oversaw the creation of 2 million phony accounts.

The Department of Justice wants banks to more fully cooperate with civil investigations. Companies now are expected to "materially assist" the agency in providing documents, access to witnesses and even inculpatory documentary evidence such as emails and text messages.

Federal Reserve chair Janet Yellen testified for the second consecutive year on regulatory issues, the fate of Wells Fargo and whether the central bank acts in a political fashion.

The National Credit Union Administration on Tuesday said it will receive $1.1 billion to settle legal claims against Royal Bank of Scotland related to the sale of faulty mortgage-backed securities to two corporate credit unions.

CU Bancorp in Los Angeles has agreed to a consent order to address deficiencies in its Bank Secrecy Act and anti-money laundering compliance program.