Compliance

Five years after the Dodd-Frank Act was signed into law by President Obama, it remains as controversial as when it was enacted. While partisans may debate whether the changes are good or bad, there is no doubt they’ve had a sizable impact. Following are the biggest ways the system has changed.

Despite the doomsday predictions for banks and acquirers five years ago, the Durbin amendment hasn’t dramatically shaken up the business models of the payments industry.

Teachers Credit Union, based here, has completed the purchase and assumption of Lakeside FCU of Hammond, Ind., NCUA announced Friday.

NCUA liquidated Lakeside Federal Credit Union late Thursday afternoon.

The regulatory landscape has become far more complex for acquirers and independent sales organizations, mainly because federal agencies are showing more interest in the various layers of the payments ecosystem.

The Consumer Financial Protection Bureau released a monthly snapshot of its complaint database, the first of what will be a series of regular reports that dig into the trove of data it collects.

The leak of documents from the surveillance software and "ethical hacking" firm Hacking Team revealed that some foreign banks were clients. Had any U.S. banks been on the list, the last two weeks would have been … interesting.

The Consumer Financial Protection Bureau's massive collection of consumer data continued to raise concerns with lawmakers on Wednesday despite assurances from the agency's director that the data is anonymized.

Most banks ask executives to coordinate a vast patchwork of regulation in addition to managing their day jobs. They'd be better off putting one person in charge of regulatory communication, remediation and coordination.

Struggling to win business in the age of QM, Impac Mortgage has relaxed underwriting requirements in hopes of attracting borrowers many other lenders won't touch.

Monica Hughes Davy is new director of the OMWI following a six-month search.

Small Pennsylvania credit union is fourth closure of 2015.

A bipartisan group of lawmakers has introduced the first Senate bill protecting banks involved with legal marijuana businesses.

Lenders and real estate agents may have to extend the usual 30-day timelines for rate locks and sales contracts while they get acclimated to the new Consumer Financial Protection Bureau mortgage disclosures that take effect in October.

Federal prosecutors are cracking down on violations of the Bank Secrecy Act — often without first clarifying to virtual currency firms and other industries the sort of behavior will get them in trouble.

The PayPal of today has come a long way from the 1998 startup that enabled people to transfer funds between Palm Pilots. As the company nears its spinoff from eBay, it is continuing its acquisitive streak with some transformative purchases.

The Consumer Financial Protection Bureau has suggested that financial institutions get busy on implementing consumer protections for real-time and faster payments.

Deposit premiums could rise at 20% of banks with up to $10 billion in assets. Many of those banks could rethink asset concentrations that would trigger higher assessments.

MasterCard Inc. received an antitrust complaint from European Union watchdogs over concerns it's "artificially raising" card-payment fees.

ACI Worldwide has added three board members with pervasive experience in financial services, following the retirement of other board members.