Compliance

John Stumpf may have hoped that Tuesday's hearing on Capitol Hill would mark a key turning point in Wells Fargo's blossoming scandal, but his harsh questioning by lawmakers — and his struggle to answer many of their questions — suggests that the embattled megabank's problems are just beginning.

Contrary to expectations about growing mortgage lending volumes, current industry trends suggest a gradual reduction in capacity for both lending and servicing that should alarm policymakers.

Credit union regulators from 30 jurisdictions around the world have registered an independent association called the International Credit Union Regulators' Network.

Virtual currency advocates are hoping a recent surge of support in Congress can help them accomplish a long-sought goal of creating a safe-harbor for companies that do not directly hold customers' funds.

Streamlining quarterly reporting is part of NCUA Chairman Rick Metsger's ongoing efforts at "Continual Quality Improvement," but trade associations say the regulator should go further.

A top CFPB official said Monday that lenders have adjusted their business models and practices to comply with new rules, while MBA CEO David Stevens called on the Federal Housing Administration to clarify its underwriting standards.

At the start of its fourth decade, the Automated Clearing House — a payment method most commonly known for facilitating payroll direct deposits — has found itself firmly in the crosshairs of the card networks and alternative payment providers.

A union-led coalition is seizing the opportunity presented by the firing of 5,300 workers at Wells Fargo to call for higher pay and better working conditions for branch employees.

All eyes will be on Well Fargo Chief Executive John Stumpf on Tuesday as he fights to defend himself before a Senate Banking Committee hearing against charges that he and other top bank executives should have earlier detected and stopped millions of phony accounts from being opened.

The 2016 election cycle has been anything but ordinary, and donations from financial institutions’ political action committees (PACs) have followed a similarly erratic trajectory this year.

Troy Leach, chief technology officer for the PCI Council, sat down with PaymentsSource to reflect on the council's performance to date and where it is headed in the coming years.

The embattled bank is under pressure to claw back bonus pay from executives. Its decision figures to have ripple effects throughout the industry.

Despite the near-frenzied interest in this year’s unprecedented presidential race, the key battles for CUs are in Congress.

House Democrats made an unusual move this week to avoid offering amendments or engaging in debate over a massive financial reform bill. Here's why.

Calling this moment in time financial services' "Uber moment," the National Credit Union Administration said the combination of technological innovation, expansion of social media and growing interconnectivity are giving regulators pause about credit unions' cybersecurity efforts.

The scorcher at Wells is giving some community bankers an opening to differentiate themselves from larger institutions that seem fee-dependent or "too big to manage."

Wells Fargo is saying so long to product sales goals for retail bankers, and the industry may never be the same.

"Rent-seeking" is a widely recognized economics term that refers to when people or groups try to obtain economic benefits for themselves through a subsidy in the political arena. In Washington, the term has special significance. Special-interest groups regularly try to gain subsidies by securing a special regulation that disadvantages competitors.

John Stumpf was coasting toward a carefully planned retirement. But the outcry over sham accounts at the San Francisco bank has put him in a precarious position as he testifies in front of Congress next week.

CUs and professionals recognized with inaugural compliance honors.