Compliance

Wells Fargo has agreed to pay $187.5 million to settle claims by federal regulators that the megabank wrongfully opened unauthorized bank and credit card accounts for more than 2 million customers.

Trade groups cheered NCUA’s long-awaited announcement of public budget hearings.

The trade group challenged the NCUA's member business lending rules enacted in February, but also hinted that it is prepared to file another lawsuit should the agency move forward with a separate regulation that would expand credit unions' field of membership.

The Federal Reserve’s structure and makeup – and even geographical locations – drew criticism from members of Congress and the public as favoring the wealthy and ignoring the conditions of ordinary Americans

Making good on threats it had made previously, the Independent Community Bankers of America filed suit Wednesday against the National Credit Union Administration, claiming the agency's recent overhaul of its member business lending rules violate two different laws.

Fintech is transforming consumer financial services, but automation and data innovation can also help banks meet their growing regulatory demands.

Credit unions and their trade associations are ramping up advocacy efforts the Capitol Hill as Congress returns to Washington after a seven-week recess.

State regulators' resistance to the idea of a national fintech charter is not surprising, but state-by-state regulation imposes heavy burdens that reverse the cost savings and expanded reach available through fintech.

These are S&P's first-ever ratings for CUNA Mutual.

Though no legislation is likely to pass prior to the election, lawmakers will be busy throughout September with hearings featuring top Federal Reserve Board officials and voting on a much anticipated financial reform bill. Here are five things to keep an eye on:

New, stricter regulations on loans to active-duty service members take effect on Oct. 3. Here’s a guide for getting ready.

The two major credit union trade associations were joined by four bank trades and the Financial Services Roundtable in a letter urging the Federal Financial Institutions Examination Council and its member agencies to limit examinations related to the Military Lending Act.

A federal district court handed the Consumer Financial Protection Bureau a major victory this week by ruling that the online loan servicer CashCall engaged in unfair, deceptive and abusive practices by using a "tribal model" to collect on loans in states with usury caps.

Cory Methodist Church CU entered conservatorship in February due to risks from unsafe and unsound practices.

Mike Barton, who for 17 years served as president of the Asset Management and Assistance Center at the National Credit Union Administration, is set to retire at the end of September.

Approximately 37 million adults in the United States — a number roughly equivalent to the population of California — do not have a checking account. Some of those individuals have never relied on traditional banking.

The 2016 general election is still more than two months away, but analysts are already speculating on how the compliance landscape might be impacted should Hilary Clinton or Donald Trump take the White House.

The National Credit Union Administration has issued prohibition notices for five individuals convicted of various crimes and restricting them from participating with any federally insured financial institution.

Financial institutions offering checkless checking is trending, and checkless checking accounts—as part of the FDIC’s 2011 Model Safe Accounts Pilot—appeared to perform well among the underserved consumer participants.

This week looks to be light on the compliance front for credit unions, although reflection on new statements from the Federal Reserve and close eyes on election season hitting the homestretch are on the agenda.