Legal issues and news

Business leaders have come to understand the role that people play in cybersecurity fiercely working to establish a strong security culture within their own organizations, says KnowBe4's Javvad Malik.

The Iowa company said it will pursue a two-step acquisition to address unspecified issues raised by the Federal Reserve as part of its review of the acquisition.

The Paycheck Protection Program and encouraging digital innovation are top priorities for James Edwards, CEO of United Bank in Georgia. He also expects the American Bankers Association to promote diversity and regulatory reform in the next year.

The two agencies proposed amending the Bank Secrecy Act to lower the threshold for transfers occurring outside the U.S. that trigger recordkeeping requirements.

As fraud continues to rise, there are a series of steps merchants can take to bring themselves into PCI compliance, says Qualpay's Penny Townsend.

The agency’s consolidation of supervision and enforcement policy into one office could compromise the independence of those deciding when to investigate alleged wrongdoing by banks and others, critics of the move say.

The Department of Justice can still investigate and arrest the developers behind the automatic transactions, says Exante's Anatoliy Knyazev.

At a time when contactless payments via QR codes are on the rise, Incognia is launching a fraud protection solution for payments providers, retailers and restaurants.

Online fraud typically spikes when holiday shopping begins in November, but so-called friendly fraud poses another big threat this year with the pandemic pushing more consumers — and inexperienced merchants — to online sales channels.

Other central banks have considered phasing out cash as they explore digital currencies. Should the idea take hold in the U.S., Federal Reserve Chairman Jerome Powell said it would not replace the physical dollar.

Other central banks have considered phasing out cash as they explore digital currencies. Should the idea take hold in the U.S., Federal Reserve Chairman Jerome Powell said it would not replace the physical dollar.

Online fraud typically spikes when holiday shopping begins in November, but so-called friendly fraud poses another big threat this year with the pandemic pushing more consumers — and inexperienced merchants — to online sales channels.

USAA's regulatory troubles now include OCC fine, CRA downgrade; Citi CEO Michael Corbat and CFO Mark Mason dodged questions on cost of risk overhaul; PNC unlikely to buy a digital bank, CEO Demchak says; and more from this week's most-read stories.

Plaid said it has been in discussions with TD Bank over allegations of trademark infringement and false advertising and was caught off-guard by the lawsuit the bank filed Wednesday.

Plaid said it has been in discussions with TD Bank over allegations of trademark infringement and false advertising and was caught off-guard by the lawsuit the bank filed Wednesday.

The Buffalo, N.Y., bank will pay a $546,000 penalty, which will be passed on to the National Flood Insurance Program to help offset costs.

The $85 million penalty and the bank's "needs to improve" rating on its Community Reinvestment Act exam were tied to alleged violations of the Military Lending Act and Servicemembers Civil Relief Act.

CEO Charlie Scharf disappointed investors by failing to provide either a detailed road map for long-term expense reductions or say when he might release such a plan.

In a lawsuit filed Wednesday, the U.S. subsidiary of Toronto-Dominion Bank accused the data aggregator Plaid of improperly using the bank’s name, trademarks and logos when it gathers TD customers' data.

Better dialogue between banks and authorities coupled with stronger anti-money-laundering measures could help address the suspicious activity report flaws revealed by investigative journalists.