Compliance

Millennium Bank is said to have been the target of an enforcement action related to its work with the pot industry. The episode shows why many banks remain reluctant to serve the fast-growing cannabis industry.

Glendale Area Schools CU recently converted from a federal charter insured through NCUSIF to a state charter with private insurance through American Share Insurance, in part because the CU's outspoken CEO Stuart Perlitsh says the federal regulator is often "out of touch" with a credit union's local environment.

WASHINGTON – Lawmakers sparred Tuesday over a Republican plan to overhaul the Dodd-Frank Act and provide regulatory relief to well-capitalized credit unions.

Offering a new product or considering a merger may boost returns, but the Office of the Comptroller of the Currency says changes in strategy can be risky.

Banks frequently blame "the rules" in shunning partnerships with fintech startups. However, compliance can be a positive force, not something that inhibits growth.

WASHINGTON — The House on Thursday approved a spending bill that would change the structure of the Consumer Financial Protection Bureau and take away the Financial Stability Oversight Council's power to designate nonbanks as systemically important.

As the U.S. Supreme Court has agreed to consider a legal case on ATM fees, credit unions are bracing for impact.

Glendale Area Schools Federal Credit Union has converted to a state charter and will also be insured through American Share Insurance, the sole alternative provider of insurance for CUs, effectively removing it from NCUA’s purview.

Reports from the big three credit bureaus do not include information about payday loans, but a CFPB proposal figures to shake up that arms-length relationship.

Senate Banking Committee member tells Washington Post he has taken himself out of the running for GOP vice presidential candidate.

Installment lenders are concerned that efforts by the Consumer Financial Protection Bureau to curb the most abusive and predatory practices associated with payday loans will wreak havoc on their business.

Critics of the Consumer Financial Protection Bureau think there's renewed chance to change the regulator's structure. They point to the upcoming presidential election and recent setbacks to CFPB Director Richard Cordray as laying groundwork for a change.

Merchants are facing consumer lawsuits stemming from the introduction of EMV-chip card security at the point of sale in the U.S., exposing the issues many stores must contend with now that they are held liable for fraud and chargebacks.

As we approach the midpoint of 2016, two of the most pressing matters in the payments industry have become more acute—the push for greater transparency and accountability in merchant acquiring and processing.

A federal appeals court decision to toss out the settlement between merchants and major card networks has re-opened old industry wounds – and spells possible trouble ahead for banks.

Six credit union employees pleaded guilty to assorted crimes in June, the National Credit Union Administration said in a press release Thursday, leading the regulator to issue notices of prohibition, effectively barring them from working or participating in any federally insured financial institution.

Banks, credit card companies and other financial firms are strategizing ways to stave off higher legal bills they expect from the Consumer Financial Protection Bureau’s proposal to limit the use of arbitration clauses, which is likely to open the floodgates to class action lawsuits.

The Consumer Financial Protection Bureau has difficulties supervising its government travel card program and has reimbursed some employees for lodging and meals while not on official travel, a watchdog said Thursday.

After the departure of Financial Crimes Enforcement Network's director last month, the future of the Treasury Department unit remains the subject of fierce speculation within the financial services industry.

SEATTLE — Disruption—both positive and negative—was on display at America's Credit Union Conference Tuesday, with intelligence from the man who brought us the Genius Bar and selling Tesla vehicles at the mall, to how the new NCUA chairman is disrupting some long-standing traditions at the agency, how "Brexit" is disrupting the economy and how conference host Credit Union National Association is looking to disrupt the way Americans think of credit unions.