Compliance

“We’re going to be looking at … what caused us to not be able to close some of these gaps in the past,” Citigroup's new Chief Administrative Officer Karen Peetz says of the effort to fix shortcomings in internal controls that have plagued the company for years.

The oversight council’s statement on the FHFA’s proposed capital rule raises questions for market participants trying to anticipate a post-conservatorship secondary mortgage market.

Smarsh, which enables banks and other clients to archive employee communications, is buying the AI firm Digital Reasoning as employers increasingly seek surveillance options for personnel working from home.

In its lawsuit against Visa, the Justice Department alleges the card network's $5.3 billion deal to buy Plaid is meant to neutralize a competitive threat — even though Visa and Plaid do not see themselves as competing with each other.

One area of certainty in the 2020 election is the momentum for legalizing cannabis, as a string of ballot box victories makes it harder for banks to avoid working with dispensaries and other legal marijuana businesses.

The company said one of its regulators may impose a civil money penalty related to compliance deficiencies in its advisory business and other areas. The matter echoes a recent fine imposed on Citigroup, one expert says.

The CrossState Credit Union Association continues to work with lawmakers in neighboring New Jersey to get similar legislation passed there.

By adhering to a checklist that determines acceptance, data and other steps, PCI compliance is achievable, says Qualpay's Penny Townsend.

The rule, which will go up for a 60-day comment period, codifies existing NCUA policies and is not expected to change how the agency operates.

PayPal wants to clear the way for its users to buy, sell, hold — and shop with — cryptocurrency, but some obstacles may prove costly to overcome.

Visa’s $5.3 billion acquisition of Plaid has raised competition concerns at the U.S. Justice Department, which is nearing a decision about whether to sue to block the deal, according to two people familiar with the matter.

Less than a year after Curve launched its cross-border P2P service to solidify its mobile banking app, the London-based company says it is expanding into Lithuania to establish a post-Brexit European base.

The 2020 election could draw the most voters in history, along with a record haul for campaign contributions, with fundraising thus far favoring Democratic candidates both generally and in the finance and technology industries, which cover most financial institutions and payment firms.

Compliance can't be a bolt-on solution. It's critical to build it in from the start, across your people, technology and partnerships, says Hummingbird's Joe Robinson.

USAA Federal Savings Bank’s downgrade shows how customer mistreatment stemming from flaws in internal controls can hurt Community Reinvestment Act scores. Some want consumer compliance to carry more weight in the CRA calculus.

PayPal isn’t the first company to open its platform to cryptocurrencies, but its technique is more hands-on than most payment providers.

Gary Cohn, former head of the Trump administration’s National Economic Council and onetime top executive at Goldman Sachs, says technological changes will continue to make it harder for smaller financial institutions to compete and force many to be sold.

With the U.K. careening toward a no-deal Brexit in the midst of a health crisis and economic downturn, the government is suggesting a breakup with the EU could defray the costs of cash usage and access.

The $85 million penalty and the bank's "needs to improve" rating on its Community Reinvestment Act exam were tied to alleged violations of the Military Lending Act and Servicemembers Civil Relief Act.

CEO Charlie Scharf disappointed investors by failing to provide either a detailed road map for long-term expense reductions or say when he might release such a plan.