Legal issues and news

While the global coronavirus outbreak may be grounding corporate travel to a near standstill, leading travel companies and fintechs are continuing to hone AI-based payments platforms to reduce the problem of corporate travel fraud.

Over the next few weeks, U.S. businesses with online platforms might be tempted to relax fraud controls to free up potential friction – they shouldn’t. It could mean major fraud hits.

Fraudsters who claim they work for the agency are taking advantage of coronavirus confusion to try to con consumers out of bank account information and money.

Nebraska bankers sued after MembersOwn Credit Union successfully added eight counties to its field of membership last year.

After resigning last year under pressure from federal policymakers, the former executive received no severance benefits or annual incentive award.

Digital fraud protection provider Kount has launched a security layer designed to prevent account takeover.

As smart device adoption continues to grow, users must be vigilant to not only change passwords but to take advantage of advanced security settings. By introducing 2FA, Google is adding necessary security measures to protect consumers, according to Pulse Secure’s Sudhakar Ramakrishna.

Financial institutions’ legislative agenda was already a low priority in Congress. Lawmakers’ efforts to stabilize the economy have shifted attention even farther away from bills that would benefit the industry.

Fraudsters tend to be oporptunistic. They’re constantly looking for new ways to abuse businesses and cardholders, making it difficult for security professionals to keep up, says Chargeback 911 and Global Risk Technologies' Monica Eaton-Cardone.

Bankers express confidence despite coronavirus concerns, while consumers ponder cash needs; U.K. will hold off unloading its 62% stake in bank.

Financial institutions need to alert customers about emails or websites that pretend to offer important COVID-19 information but instead could end up stealing their account numbers or logins.

The chair of the House Financial Services Committee, Maxine Waters, contends that Tim Sloan knowingly made misleading and inaccurate comments during a hearing before her panel last year.

Investors worry the drop in crude prices could spark a rash of defaults; the bank denies it opened accounts without customer permission to meet sales quotas.

Artificial intelligence has given merchants and banks handling payment data a fighting chance against fraud because it essentially pits machine against machine in compiling data and establishing prevention algorithms.

The company disclosed that an internal review of a now-discontinued loan program found that employees engaged in misconduct tied to income verification and requirements, among other things.

The Treasury secretary’s recent Senate testimony coming down on cryptocurrencies is misguided. Regulations should require building better blockchain technology at the banks.

The bank's board chair and fellow director James Quigley abruptly resigned early Monday. Both are scheduled to appear before the House Financial Services Committee this week.

The agency's effort to engage with lawmakers on a whistleblower award program is one of three initiatives the bureau announced to advance its strategy of preventing consumer harm.

The company said it expects to enter into the order with the FDIC and its state regulator later this month.

The state's Division of Banking, led by a former bank CEO and trade group chief, blocked GreenState CU's move to buy seven branches from First American Bank. It's the second time this year regulators have halted a credit union-bank deal.