Compliance

CUs have long bemoaned the growth of the industry’s compliance burden, but up until now, those complaints were backed only be anecdotal evidence. A new study puts concrete metrics in play.

Despite generating an estimated $4.5 billion in revenue last year, the legal marijuana industry has yet to solve one of its biggest issues—the lack of reliable payments, banking and other financial services.

WASHINGTON — The House Financial Services Committee approved a bill this week that would increase the mobility of mortgage originators who take a new job across state lines or move from a federally regulated bank to a nonbank.

U.S. Attorney indicts Trevon Gross; charges him with accepting more than $150,000 in bribes from operators of unlawful bitcoin exchange.

Lenders are becoming more reluctant to share closing documents with real estate agents now that they have more responsibility for them, the National Association of Realtors claimed Thursday.

New requirements and guidance from the Payment Card Industry Security Standards Council will be released to merchants in April, which is about six months earlier than its normal update cycle.

Financial Services Committee approves bill requiring financial regulators to tailor rules to ensure they are appropriate for small FIs.

The pace of new regulations appears to be slowing slightly in 2016, but that does not mean the regulatory burden on credit unions is lessening.

The Consumer Financial Protection Bureau on Wednesday ordered online payment processor Dwolla Inc. to pay a $100,000 fine for deceiving customers about its security practices — the first action it has taken related to data security.

NCUA Board Member McWatters’ nomination to Export-Import Bank must go through Senate Banking Committee, which the senator chairs.

Bankers are still grappling with vendor software problems, longer processing times and delays in mortgage closings as a result of new disclosures that went into effect four months ago, according to a new survey by the American Bankers Association.

WASHINGTON — The House Financial Services Committee will hold a vote Wednesday on a credit union-backed bill that would provide regulatory relief for financial institutions that are not considered systemically important.

The mortgage servicer said it has received letters from the Securities and Exchange Commission regarding separate probes into its collection practices and fees.

National Credit Union Administration announces the Temporary Corporate Credit Union Stabilization Fund received its seventh consecutive "clean" audit opinion.

NCUA issued its prohibition orders for the month of February, prohibiting four people from employment and activity in the affairs of any federally insured financial institution.

Western Union has promoted Jacqueline Molnar to chief compliance officer.

The nation's largest marketplace lender announced changes Friday to its partnership with Utah-based WebBank. The revisions are designed to preserve Lending Club's ability to ignore state interest rate caps.

The bank's approval last year to buy OneWest Bank included a condition to submit an updated Community Reinvestment Act plan, but the CRA program now being presented by CIT is far from adequate.

The credit union regulator's latest recovery from legal action following the corporate credit union crisis brings total legal recoveries to more than $2.4 billion.

Regulators’ focus on having banks and credit unions offer payday loan alternatives to underserved consumers overlooks the success of Web-based companies in filling credit gaps.