Compliance

Banking industry representatives immediately raised significant questions about Donald Trump's plan to block remittances to Mexico, including the appropriateness of using financial institutions as a tool to carry out immigration policy, as well as how the policy would be executed.

The international standard-setting body highlighted the benefits of a Federal Reserve-style supplementary leverage ratio for global systemically important banks, but stopped short of a full-throated endorsement and committed only to take public comment on the issue.

GOP lawmakers and witnesses at a Senate Banking Committee hearing pointedly criticized the Consumer Financial Protection Bureau on Tuesday, setting the stage for a likely contentious hearing with the agency's director later in the week.

All six tiny credit unions had one primary thing in common: management contracts with Service Center for Credit Unions in Bensalem, Pa.

The National Credit Union Administration is encouraging credit unions to take advantage of the agency’s financial literacy resources as it participates in Financial Literacy Month.

PayPal Holdings Inc. is scrapping plans to build an operations center in Charlotte, North Carolina, saying that recent legislation passed in the state undercuts the rights of lesbian, gay, bisexual and transgender people.

Donald Trump proposed to block billions of dollars in payments immigrants send back to Mexico if the government there refuses to pay for a border wall, in a potentially devastating move for Mexico's economy.

Two appeals court judges raised constitutional questions Monday about the structure of the Consumer Financial Protection Bureau in its case against PHH Corp.

Instant electronic payments are a sine qua non of modern life. Real-time card-authorization systems were implemented in the mid-seventies and, in an era of mobile ubiquity, enable commerce anywhere, anytime. In contrast, payments between bank accounts generally aren't instant.

Two appeals court judges raised constitutional questions Monday about the structure of the Consumer Financial Protection Bureau in its case against PHH Corp.

The Consumer Financial Protection Bureau has amassed more than $300 million in so-called "unobligated balances" in its civil penalty fund, driven by a bumper crop of penalties against financial institutions in the past year. Some are questioning why the balances remain so large, year after year.

HSBC hasn't adhered to terms outlined in a U.S. deferred-prosecution agreement requiring compliance measures to detect and prevent violations of money-laundering and sanctions laws, an external monitor said.

The Consumer Financial Protection Bureau has amassed more than $300 million in so-called "unobligated balances" in its civil penalty fund, driven by a bumper crop of penalties against financial institutions in the past year. Some are questioning why the balances remain so large, year after year.

Risk management executives discuss diverse approaches credit unions can take in addressing interest rate risk strategies.

NEW YORK CITY — Just six months after being placed into conservatorship, Montauk Credit Union, based here, was merged into Bethpage Federal Credit Union of Bethpage, N.Y., effective Thursday.

Two former credit union employees were handed life-time prohibition orders from the National Credit Union Administration in March following their criminal convictions.

The payments pioneer is transforming its merchant cash advance into a business loan, a move that has significant legal and regulatory implications.

BATON ROUGE, La. – The Louisiana Credit Union League is backing two bills that are moving through the state’s legislature.

Model legislation in the works would give state legislatures a template for regulating virtual currency businesses. The Treasury is lobbying against clear exemptions for firms that don't control customer funds.

Even as an NCUA working group is trying to craft a supplemental capital proposal for credit unions, mutual thrifts are quietly courting their regulator for a similar measure of their own.