Compliance

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.

Several bankers left a high-profile meeting with the Financial Accounting Standards Board feeling more comfortable with a plan to change reserve accounting. The meeting was thrown into an abrupt recess after a FASB director and a bank lobbyist clashed over recent statements by FASB's chairman linking community banks to the financial crisis.

The House passed a bill Thursday 250-169 that would limit regulators' ability to force banks to cut ties with certain businesses despite Democratic fears that it could hamstring the Justice Department's ability to prosecute bankers responsible for the financial crisis.

The amount of complaints in the Consumer Financial Protection Bureau’s database dealing with payday loans is relatively small, so why is the proposal to regulate payday lenders so sweeping?

NCUA reports conserved credit union has taken "several steps to address financial and management issues affecting the safety and soundness of its operations."

Louise Roseman, the longtime head of the Federal Reserve's payment systems division, plans to retire this year.

All it takes to bridge the divide between and credit unions and banks - and lawmakers on opposite ends of the political spectrum - is a controversial accounting change that threatens to harm members of both industries.

The European Commission wants to snuff out terrorist funding, a strategy that could include tight monitoring of cash and Bitcoin, and national account registers.

The Consumer Financial Protection Bureau announced Wednesday that too few institutions offer checking accounts that discourage or prevent overdraft charges, and those that do have not advertised them.

A Federal Reserve task force has issued criteria for its faster payments initiative, part of a long journey to build a framework to securely and efficiently accommodate the near real-time processing for digital commerce.

While most federal financial regulators use enforcement actions as a way to shape industry practices, the Consumer Financial Protection Bureau is taking that to a whole other level, frequently using orders as a substitute for new rules or guidelines.

State financial institution regulatory agencies in Idaho and Vermont have been approved for reaccreditation by the National Association of State Credit Union Supervisors (NASCUS) and the Conference of State Banking Supervisors (CSBS), in the wake of recent reviews, NASCUS announced.

Vantiv will stop processing transactions for its clients in daily fantasy sports amid government claims the sites are violating gambling laws, the New York Times reported Friday.

ALEXANDRIA, Va. – The National Credit Union Administration said it issued six orders in January prohibiting the following persons from participating in the affairs of any federally insured financial institution: