Compliance

American Express Co. is reorganizing management and consolidating its marketing activities as the biggest credit-card issuer by purchases seeks to cut $1 billion in costs over the next two years.

Credit unions that undergo conservatorship face a variety of destinies. Consider the fate of credit unions that were conserved five years ago. In 2011, according to NCUA, nine credit unions were placed into conservatorship. Of those nine, eight were eventually liquidated (often due to fraud) and one remains in conservatorship almost five years later. Here is a brief review of what became of them.

North Island Financial Credit Union was on the verge of conservatorship but managed to avoid that fate and come back out swinging.

When regulators step in to take control of a troubled CU, what promising signs do they look for to determine whether there will be life after conservatorship, and what happens next?

The burgeoning industry has been hoping the Supreme Court would overturn a problematic lower-court ruling, but the unexpected passing of a conservative stalwart makes that outcome less likely.

MADISON, Wis. – The Wisconsin State Assembly on Thursday voted unanimously to pass AB 807, legislation sponsored by the Wisconsin CU League that would modernize the state credit union statute, known as Chapter 186, and administrative code provisions relating to credit unions.

State regulators and House lawmakers warned the Consumer Financial Protection Bureau not to preempt state laws when the agency issues its proposal to regulate payday-type loans.

Federal Reserve Board Chair Janet Yellen faced tough questions Wednesday by House Financial Services Committee lawmakers over the central bank's regulatory treatment of big banks.

The Bancorp in Wilmington, Del., named Sepideh Behram to the role of chief compliance officer.

The Bancorp in Wilmington, Del., named Sepideh Behram to the role of chief compliance officer. Her hiring comes as the $4.8 billion-asset company works to shore up its risk and compliance management.

Broadway Financial in Los Angeles has been released from an enforcement action administered by the Federal Reserve.

After an active 2015, with nearly 290 deals announced, don't think for a second that bankers are taking a breather. Executives are looking at ways to build scale, improve their fintech offerings and ensure smooth transitions following acquisitions. Here is a sampling of recent comments about bank consolidation.

Credit unions aren’t the only ones who would like to see changes made to their call reports: so would banks. While CUs are expecting NCUA to address call reports during implementation of the risk-based capital rule, banks are getting a little help from a handful of members of Congress.

Setting yet a new record for number of comment letters filed, NCUA’s proposed field of membership overhaul has reopened old wounds and rekindled the battle between credit unions and banks.

The Obama administration announced a new cybersecurity strategy on Tuesday, calling for a 35% increase in funding to bolster private and public defenses and the creation of a new chief information security officer position for the government.

Fantasy sports sites FanDuel Inc. and DraftKings Inc., already facing mounting legal and regulatory scrutiny, ran into more trouble when Citigroup Inc. said it was blocking transactions by New York state residents.

CTK Credit Union, a tiny credit union based in Milwaukee, Wis., has been served an order of liquidation by the Wisconsin Office of Credit Unions, which immediately appointed NCUA as liquidating agent.

Mortgage REIT says five-year transition plan won't have an impact on its financing model.

HSBC North America Holdings has agreed to pay $470 million to settle allegations it engaged in abusive practices in its mortgage foreclosure, origination and servicing operations.

A cybersecurity assessment tool designed to help financial institutions bolster their defenses against hackers and other cybercriminals is continuing to sow confusion among financial executives, with some arguing it is effectively imposing tougher standards on the industry.