Financial crimes

Researchers found that stolen payment data has been used to finance terrorism, human trafficking and other organized crime. Their conclusion that card fraud needs to be taken more seriously by banks and card networks drew pushback from the financial industry.

Dallas Fed chief says lower interest rates may require stricter rules to ward off riskier lending; after financial crisis, debt backed by HELOCs disappeared.

Nearly half the nation's state regulators have agreed to a new multistate licensing business for money servicers, including fintechs.

Sterling Bancorp must enhance its BSA policies and hire an outside firm to review its account activity.

Credit union executives discussed serving the legal marijuana and hemp businesses during NAFCU's annual conference in New Orleans, including vastly different motivations for serving the industry.

While a bill to require firms to identify their owners has gained bipartisan support, some small companies argue it is burdensome and would subject them to harsh penalties.

Deutsche Bank is being investigated by U.S. federal authorities for potential lapses in money laundering compliance, The New York Times reported, citing unidentified people with knowledge of the inquiry.

Banks shouldn’t have trouble this year, but the rules may change next year; U.S. authorities are probing possible AML compliance violations at the German bank.

The company will create a regulated subsidiary offering a digital wallet; San Francisco Fed wants CRA credit for loans that help prepare for climate change.

The National Credit Union Administration's controversial risk-based capital proposal could see further delays or changes as thousands of industry professionals head to CU conferences across the country.

Credit unions and the rest of the financial services sector, in the spirit of recent criminal justice reform, should be more open to hiring workers with low-level criminal convictions.

Hard sell ahead for BB&T-SunTrust as ‘Truist’ lands with a thud; Citizens looks to poach BB&T-SunTrust talent; what the Senate AML bill means for banks; and more from this week’s most-read stories.

Visa, Mastercard and PayPal are each putting up $10 million to back the cryptocurrency; company “gearing up” to reboot its flagging small business lending unit.

Bills to fix the National Flood Insurance Program and combat the money-laundering risks from shell companies enjoyed bipartisan support during a House Financial Services Committee debate.

Speaking during an event on Wednesday, Hood touched upon charter expansions, regulatory relief and the industry's tax-exempt status.

Corporate scandals at banks and other firms often suffer from similar management challenges. The financial industry needs to look more closely at these root behaviors to help stem misconduct.

Several prospects, including JPM’s Gordon Smith, are reluctant to take on a thankless job; lower interest rates, quiet trading will yield disappointing results.

With campaigning for the 2020 presidential election already underway, it could become increasingly difficult for the industry to move meaningful legislation through Congress.

The president says the Fed is giving China a competitive advantage; bank stocks gained after tariffs on Mexican imports nixed.

The good news for financial firms is Congress has moved closer to reforming anti-money-laundering rules. But left behind in the effort is the reform most coveted by the industry.