Compliance

The $1.9 trillion-asset bank is under pressure to provide investors more information about when it expects to resolve the numerous headaches that have arisen in the wake of its phony-accounts scandal.

We need to rethink how we acquire and manage consumer data, and any business using enterprise software needs to be accountable for how information is being processed, transported or shared, writes Chris Wong, CEO of LifeSite.

Industry consolidation can help boost bank profitability in the short run, but it’s no panacea for the industry’s bigger problems.

The bank sought to evade the consequences of compliance failures including weak scrutiny of transactions that could be tied to North Korea, the N.Y. banking superintendent said in demanding access to communications between the bank and its new supervisor, the OCC.

Volcker 2.0 could bring significant relief for the industry, but will likely fall short of what many had hoped.

Several U.K. businesses have shifted their stance on credit card acceptance in the wake of a new EU law that became effective Jan. 13 — with some providers putting an end to their credit card acceptance altogether.

One expert on call reports offered more than a dozen examples of how credit unions can avoid making common mistakes when filing 5300s with NCUA.

The rules that govern data are changing rapidly, creating confusion for the companies that use blockchain to support payments, as well as potential investment opportunities for third parties that can ensure compliance.

Due diligence in the sometimes shadowy universe of digital money often means trying to unscrew the inscrutable.

The NCUA board is considering adding as many as two additional payday alternative loan options for credit unions, and regulators have clarified a rule on severance claims after involuntary credit union liquidations.

At the 2018 CUNA CFO Council conference, an NCUA staffer offered examples of how the regulator aims to improve the exam process and make it easier for credit unions to do business.

The Justice Department announced this month that it would seek to reduce duplicative penalties against banks, although more reforms are needed to rein in other agencies.

Lawmakers can finally deliver long-promised regulatory relief if the House passes S. 2155 this week – the added benefit being that it will improve the lending process for credit unions and consumers alike.

European financial institutions and central banks, along with critical European banking and payments infrastructure providers, face an increasing onslaught from hackers that has prompted two major responses from the EU.

The Wisconsin Bankers Association is rejecting a National Credit Union Administration ruling that the Federal Credit Union Act preempts a pair of state banking statutes.

In a letter responding to a request for clairty from the Wisconsin Credit Union League, the federal regulator expanded its preemption to include state-chartered, federally insured CUs.

News that Wells commercial banking employees improperly altered client documents will likely embolden the most vocal critics of
CEO Tim Sloan, who they say can't seem to resolve Wells' lingering problems.

Christian Sewing doesn’t only have to reshape the company, revive profits and improve morale, he has to get regulators off Deutsche Bank’s back.

A long-anticipated financial rule could help law enforcement root out illegal activity, but it requires banks to keep extra-close tabs on certain business clients. That won't be easy.

The Supreme Court has sided with states in a dispute over sports gambling, a double victory for payment processors, which can use largely existing tools to serve an entirely new market.