Legal issues and news

A federal judge has ordered FDATR, a now-defunct student loan debt relief provider, to pay $43 million in restitution and fees, bucking the trend of cases brought by the Biden administration-era Consumer Financial Protection Bureau being dropped.

Paper check use is dropping, but it's still high enough to be a fraud concern for banks. The Trump administration's move to mandate digital could force banks to dump paper once and for all.

The Consumer Financial Protection Bureau sided with two trade groups in asking a federal court to vacate the medical debt rule. Consumer groups have asked to intervene and a judge has not yet ruled on the motion.

The decision to stop requiring U.S. companies to report beneficial ownership information is misguided. The compliance burden could be substantially eased by collecting the data at the state level.

At a New York Fintech Week event, speakers urged fintechs to better understand the criminal mindset and to use artificial intelligence to detect and thwart fraud.

The acquisition brings Demyst's data orchestration tools to Feedzai's platform, a move aimed at reducing financial crime and improving compliance in banking.

A federal judge has ordered a staff member of the Department of Government Efficiency and the Consumer Financial Protection Bureau's top lawyer to appear at an evidentiary hearing next week.

An administration willing to rethink longstanding regulatory norms could implement targeted reforms that unlock the potential for increased investment, innovation and job creation across the country.

Bad actors use generative AI to create automated threats that are more sophisticated than earlier generations of malicious bots, and they are going after banks' APIs.