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Shell companies, stablecoin and a Bahaman bank that took orders from a gang of fraudsters all took part in a scheme that bilked U.S. victims of millions.
June 10
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When a Chicago bank crashed, delivering a major blow to the Deposit Insurance Fund, regulators said they suspected fraud. Historically, that's a common story.
June 9
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A new executive order reverses digital ID initiatives, fraud alerts and federal data-sharing plans from which banks stood to benefit.
June 9
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Congressional Democrats offered a bill Friday requiring the Treasury Department to apply the anti-money-laundering requirements of the Corporate Transparency Act more fully and help educate small businesses on how to comply with reporting of beneficial ownership information.
June 6
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The government should allow and encourage financial institutions to deploy advanced technologies to protect customers from fraud enabled by agentic AI, instead of punishing them for innovating in response to new threats.
June 6
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Two bankers detailed how artificial intelligence is transforming fraud detection and incident response for their institutions. The technology lets analysts ask datasets direct questions.
June 4
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The STATES 2.0 Act, currently pending in Congress, would go a long way toward giving banks confidence that they can provide services to legal cannabis businesses without putting themselves in legal jeopardy.
June 4
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Brian Minick, who is in charge of cybersecurity for the bank, shared important cyber insights at an American Banker conference this week.
June 3
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The Department of Justice is seeking to terminate a Biden-era lending discrimination settlement with Lakeland Bank. Last month, the DOJ took similar action in a case involving Mississippi-based Trustmark National Bank.
June 2
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The Consumer Financial Protection Bureau and Bank Policy Institute filed twin motions for summary judgement to strike down a 2024 agency rule for being arbitrary and capricious and exceeding statutory authority.
June 2
