Compliance

Readers respond to an FTC settlement with SoFi, weigh calls to simplify Wells Fargo, consider crypto's revolving door and more.

One of the biggest sticking points as regulators try to reform the Community Reinvestment Act is expanding the assessment footprint but ensuring banks continue to serve their direct communities.

The report by the Consumer Federation of America said the regulatory agency has "ample legal authority" to enforce the Military Lending Act despite the bureau's plans not to examine firms for compliance.

Recent comments from the chairman of the National Credit Union Administration signal the agency may soon take a lighter touch with small institution

Mastercard and Visa’s single online payment experience, which has angered some merchants and could shake up the e-commerce market from PayPal to Amazon, is progressing toward a 2019 launch.

ABN Amro plans to levy fees for some clients that don’t use digital payment processes, an aggressive tactic that’s had mixed results for the companies, retailers, and governments that choose to make intentionally harder to use manual payment processes.

The Federal Trade Commission, which issued a formal complaint against SoFi, is urging other lenders to review their advertisements for false claims about the benefits of refinancing.

Under the Federal Housing Finance Agency's plan, small Home Loan banks would face a new housing benchmark and a volume threshold for meeting the goals would be eliminated.

Taxi medallion loans are going nowhere fast, but loans to drivers for ride-hailing services like Uber could help replace some of those losses on credit union lending portfolios.

A group of large banks is using its considerable size and influence to build standards for trade finance, including agreements on payments processes, documentation and risk—giving the consortium its own ecosystem to counter the myriad forces in technology and e-commerce that threaten to upend traditional practices.

American Express Co. said the U.S. Department of Justice and several regulators have sought information on its foreign-exchange international payments business.

Bankers say the agencies’ proposed rewrite of the trading ban would do more harm than good, while the Volcker Rule’s most ardent supporters worry the overhaul will enable risky behavior by the largest institutions.

The Bank of Lithuania is positioning the country’s capital Vilnius as a hub for payments-related fintechs wanting to enter the European market — a move that's timed to take advantage of the uncertainty Brexit has cast over London's claim to the title.

India’s government has been aggressively (and, at times, dramatically) pro-digital commerce — but not necessarily when it involves foreign companies.

Credit unions won't have to comply with the controversial rule until at least 2020, but a forthcoming proposal on alternative capital could raise the ire of banking groups.

The European data sharing regulation, PSD2, is often seen as a compliance burden for banks — but if used correctly, the rules provide a path to boosting digital payments revenue.

This week marks the official start of Canada’s legalized recreational cannabis industry — and American Express, Visa and Mastercard are ready to handle the new market's payments, in a stark contrast to their stance in the U.S.

Trade groups say the National Credit Union Administration hasn't adequately explained how it plans to reduce its budget at the same time it asks Congress for increased oversight powers.

The U.S. has arrested a Treasury Department employee for leaking confidential bank records pertaining to Paul Manafort, Rick Gates, the Russian Embassy and Maria Butina, who's been accused of being a Russian agent.

The regtech firm Arachnys, which recently raised $10 million from QED Investors and others, draws from a collection of 23,000 data sources to help banks protect themselves from money launderers and other criminals.