Compliance

The approval broadens Excel’s membership to anyone in Gwinnett, Hall, Forsyth and Fulton counties.

The House has passed legislation that would make financial institutions report credit application data relating to LGBTQ-owned businesses to the Consumer Financial Protection Bureau for the purposes of enforcing fair lending laws.

U.S. regulators blocked the card network's attempt to buy Plaid last year for antitrust reasons. Its bid to acquire Tink, a similar company based in Sweden, may have a better shot given European officials' desire to promote open banking.

A European Union regulation that promotes data sharing among banks and third parties is making it easier for neobanks like Tide and Monese and other companies to help small merchants track their cash flow and access credit.

The company is making many employees sift through years of text messages on personal devices and set aside any related to work to ensure U.S. rules on keeping copies of business communications are met even after many months of remote work, according to people with knowledge of the situation.

According to the latest Federal Deposit Insurance Corporation (FDIC)’s “How America Banks” report, there is an estimated 7.1 million unbanked households in 2019. Given the record levels of unemployment, the pandemic has brought on the FDIC expects this number to rise. Join Joe Adler, American Banker’s Washington Bureau Chief and Leonard Chanin, Deputy to the Chairman of the FDIC as they discuss the FDIC’s stance on financial inclusion and how banks can get millions of unbanked Americans into the traditional banking system.

Financial institutions spent nearly $214 billion last year — an 18% jump from 2019 — to meet regulatory requirements for fighting financial crimes, a new study says. The spending included more staffing to manage risks posed by customer growth.

The retiring head of the National Association of State Credit Union Supervisors spent years working to rein in a contentious funding mechanism used by the National Credit Union Administration that drew money from the Share Insurance Fund.

The National Credit Union Administration issued no prohibition orders in May, making it the first month in nearly four years that the regulator has barred no one from working in the financial services sector.

The U.K.'s central bank says stablecoins should follow the same rules as traditional bank deposits.

The efforts to bolster risk controls and simplify global operations will ultimately lead to better shareholder returns, Jane Fraser said, while urging investors to show patience.

From China to the Bahamas, central banks are rushing to create digital currencies that could be used for everything from attending the Olympics to helping the unbanked. Here are some notable initiatives.

The initiative would standardize and expand security, but marketing restrictions weigh against the business case for adoption.

The Federal Reserve has privately told Deutsche Bank that its compliance programs aren’t up to snuff, signaling that the scandal-plagued bank is failing to adhere to a number of past accords with U.S. regulators, according to people familiar with the matter.

American banks and their clients now see a business case for ISO 20022 as they expand cross-border and real-time transactions.

Advocates for depositor-owned banks want regulators to block the combination of a one-branch thrift and Minnesota’s largest credit union, for fear it will lead to similar deals.

Sarah Dahlgren, who joined the scandal-plagued company in 2018, is departing of her own accord, according to a spokesman.

The National Credit Union Administration placed the New Jersey credit union into conservatorship Monday, citing its "unsafe and unsound practices."

Small businesses are upset at Visa and Mastercard's proposal to raise rates on cross-border payments initiated online, now that the European Commission's caps on credit and debit fees no longer apply in the U.K.

A member of the ECB's board urged local companies to lower their prices, or risk being undercut by global rivals.