Compliance

Dumping entire categories of clients is a crude and inappropriate reaction to large fines, says Stephen Platt, author of Criminal Capital: How the Finance Industry Facilitates Crime." However, he says, regulators should hold a dialogue with banks and attempt to accommodate businesses that carry high risk but whose services are desperately required, such as remittances to war-torn Somalia.

Banks partnering with prepaid card providers face the potential of higher deposit insurance fees and other ramifications from the Federal Deposit Insurance Corp. classifying accounts as "brokered."

At a hearing Tuesday, GOP lawmakers hammered FHFA Director Mel Watt for four hours over his recent decisions to allow Fannie Mae and Freddie Mac to buy loans with lower downpayments and provide money to two affordable housing trust funds.

WASHINGTON — The Consumer Financial Protection Bureau issued a bulletin Tuesday warning financial institutions about entering into agreements with third parties that share or hide information related to regulatory exams.

Peer-to-peer and institution-to-small business loan marketplace Funding Circle launched a new fractional loan marketplace today, the San Francisco company announced.

They included owners and managers of a photo scanning business, an auto repair shop, an office supplies provider, a furniture retailer and a family-run electronics store.

The Federal Reserve System threw its weight behind a host of standards, goals and timelines yesterday that are likely to shape the quest to build a faster U.S. payment system.

The Federal Reserve System released a detailed vision for improving the speed of the U.S. payment system. It is latest step in a process meant to spur change at a time when the country has fallen far behind many nations that have adopted real-time payments.

Janell Thompson and Katarina Maloney say choosing the "wrong" name for their company was all it took to run afoul of banks and be labeled as co-owners of a high-risk business.

California's Department of Business Oversight said Friday that it will drop its effort to suspend Ocwen Loan Servicing's mortgage license in California. The Atlanta servicer had failed for more than a year to provide its California regulator with requested information

The Consumer Financial Protection Bureau on Friday announced four appointments to the agency’s leadership team

Starbucks, which handles 16% of its in-store sales as mobile payments, is looking to push that number even higher. Its evolving strategy combines its mobile app, its gift card and its rewards program into a powerful package.

MasterCard will remove the current block on U.S.-issued card transactions in Cuba starting March 1, 2015.

The consumer bureau and Maryland's AG allege the loan officers received consumer data and other services in return for business referrals.

ALEXANDRIA, Va. — NCUA will collect $12,820 in penalties from credit unions that filed late Call Reports in Q3 2014, the regulator said in a statement released Thursday.

BB&T plans to add more than $20 billion in assets this year through three pending acquisitions. Management, which believes it should have no problem getting its deals approved, has started to improve how it monitors its liquidity capital ratio before new thresholds kick in.

With dueling legal opinions on NCUA's authority to implement a multi-tiered risk-based capital rule, the regulator could be facing a lawsuit.

Credit union system stakeholders responded strongly to the risk-based capital rule NCUA's Board proposed in January 2014. The agency received more than 2,000 comment letters, and Chairman Matz and staff heard more comments at a series of listening sessions last spring and summer.

The Consumer Financial Protection Bureau has finalized tweaks to a mortgage disclosure rule set to take effect later this year.

Fulton Financial in Lancaster, Pa., reported lower quarterly earnings that reflected the costs of complying with a regulatory order.