Compliance

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.

NCUA named liquidating agent and Public Service Credit Union assumes members, assets, loans and shares of small Detroit institution.

The Coalition for Safe Loan Alternatives intends to become a peer-to-peer forum for best practices among the alternatives to payday loans. The group will not advocate for policy changes. Rather, it aims to offer a platform for local organizations to share information and compare ways to offer low-cost access to credit.

The Coalition for Safe Loan Alternatives intends to become a peer-to-peer forum for best practices among the alternatives to payday loans. The group will not advocate for policy changes. Rather it aims to offer a platform for local organizations to share information and compare ways to offer low-cost access to credit.

WASHINGTON — After being forced by a court to withdraw its enforcement action against Tanzanian bank FBME, the Treasury Department's Financial Crimes Enforcement Network has once again finalized a rule requiring U.S. institutions to cut off ties with the bank.

The attention around tokenization — replacing static account numbers with a one-time-use token — has been good for security but worrying for businesses that rely on a static identifier for future reference.

Bank of America, Barclays and a dozen more banks must face investor claims that they rigged a benchmark used in the sales of interest-rate derivatives and other financial instruments.

Troubled Clarkston Brandon Community CU, Clarkston, Mich., has been merged with Michigan State University Federal Credit Union, East Lansing, Mich.

The National Credit Union Administration offered signs for tempered optimism in the latest video in the agency’s economic update series, posted on YouTube.

The National Credit Union Administration on Thursday said it has accepted a $29 million offer of judgment from Credit Suisse to resolve claims arising from losses related to purchases of residential mortgage-backed securities by Members United and Southwest Corporate Credit Unions.

A tip from the public gave the National Credit Union Administration the idea to make a simple, yet meaningful, change Thursday to investment restrictions on federal credit unions.