Compliance

Santander Bank said Wednesday that the OCC had terminated a 2015 consent order related to an identity protection product. It is one of several regulatory headaches the bank and its parent company have resolved lately.

Digital ID platform developers are competing to sign up partners to deploy their technologies to replace vulnerable usernames and passwords with a single sign-in. The challenge is to sign up a sufficient volume of partners to make these platforms attractive for consumers and businesses.

Everything's in place for mobile payments to supplant plastic cards in the U.S. — except for a compelling reason for the transition.

Despite legal cannabis category's regulatory complexity — or perhaps motivated by it — a new breed of merchant acquirers is slicing through the thick government red tape to process cannabis payments, one state at a time.

The advent of Faster Payments services plus Europe’s PSD2 have heightened concerns among banks about increased fraud risks. This has created opportunities for firms such as New York/Israel’s BioCatch and San Francisco’s BehavioSec, both of which develop technology around behavioral biometrics analysis.

State Treasurer John Chiang says that Wells Fargo is keeping patterns of abuse hidden from view by resolving customer disputes through private arbitration.

A more open approach to banking will bring major changes, with quality data on banking services and IT security now becoming a significant factor for consumers in selecting a provider.

Since his 2016 campaign, Donald Trump has loomed over the international payments system with a series of threats that are proving increasingly empty.

The Troy, Mich., company is operating unfettered by regulatory orders for the first time in a decade, and its CEO says Flagstar now has the flexibility to pull the trigger faster on deals and accelerate its diversification beyond mortgages.

At the recent CU Leadership Conference in Las Vegas, credit union representatives offered their ideas for the next round of reg relief.

Seven months have passed since the U.K.’s biggest banks were mandated to release open APIs for their customers’ account information under open banking and European Union PSD2 regulation. The process was completed by mid-April, but it fell short of creating a truly open system for data sharing.

Bank of America and several other large U.S. financial services companies, as part an effort organized by the Thomson Reuters Foundation and Western Union, have published resources to help smaller banks spot signs of forced labor and kidnapping.

After the National Credit Union Administration asked for comments on proposed revisions and expansions to its Payday Alternative Loan program, credit unions offered their suggestions for how to fix it.

The Michigan company had been operating under the supervisory agreement since 2010.

Rep. Emanuel Cleaver, D-Mo., says he is concerned that banks are freezing accounts of customers if they aren't providing citizenship information.

The Federal Reserve had ordered improvements in compliance, board oversight, risk management, capital planning and liquidity risk management that spanned multiple subsidiaries.

Brim Financial is the only non-bank or credit union to have an issuer licence from Mastercard Canada. Unlike other countries, Canada doesn't require credit card issuers to have bank licenses or bank sponsors.

The letter from lawmakers to the bureau follows a report that the agency does not view the exams as explicitly required by the law.

Starling Bank, a U.K.-based digital-only bank, is among the latest European banks offering the benefit of its full banking license and its technology to companies that want to offer white-labeled banking products and debit or credit cards but don’t want to invest in a banking license or technology.

The veteran banking attorney, who also worked at the FDIC and OCC, passed away Tuesday following a battle with cancer.