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Debt collectors would have to tell consumers upfront that they cannot sue to recover "time-barred" debt under a proposal issued Friday by the Consumer Financial Protection Bureau.
February 21
- Finance and investment-related court cases
Tech firm accuses PNC of stealing trade secrets; online lender LendingClub agrees to acquire Radius Bank; questions arise whether regulators are turning more partisan; and more from this week's most-read stories.
February 21
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Wells Fargo & Co. is poised to pay roughly $3 billion to settle federal investigations into a range of consumer abuses that were rampant at the bank for years, according to a person with direct knowledge of the matter.
February 21
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The bank could announce as early as Friday a deal on charges it wronged customers; the acquisition allows Morgan Stanley to compete in retail banking.
February 21
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The credit union regulator's portfolio sale dashed the hopes of a group of New York taxi drivers looking for relief.
February 20
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Fraud prevention provider Kount is strengthening its artificial intelligence-powered Identity Trust Global Network with software for determining how long email addresses have been in use.
February 20 -
The Bank of England issued a new polymer £20 note into general circulation at a time when consumers are increasingly eschewing cash in favor of digital payments.
February 20
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Fending off these kinds of attacks requires training personnel on a strict process for validating suppliers' banking data during supplier onboarding, especially when receiving any data change requests, says Noicepay's Doug Seaberg.
February 20
Nvoicepay -
An inspector general's report found that CBS Employees FCU failed to segregate key duties.
February 19
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New messaging protocols calls can meet crooks at the pass, says FIME's Jean Fang.
February 19
Fime -
A Denver company says that the $410 billion-asset bank used its confidential information to create a copycat product and poach its customers. PNC is contesting the allegations.
February 17
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Hanover Bancorp is facing a proxy battle after its CFO and two other bankers bolted to a rival.
February 14
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A 2019 report from the Federal Trade Commission shows consumer losses to “romance scams” rose more than 300% between 2015 and 2018. Credit union leaders say the real numbers may be much worse.
February 14
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To appease regulators, challenger banks looking to service crypto businesses can implement effective AML controls and systems, says Fenergo's Rachel Woolley.
February 14
Fenergo -
For the second time in four years regulators are investigating Jes Staley; fintechs have until July 30 to sign agreements on how they access customer data.
February 14
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New regulations and fraud threats are accumulating, and payment firms need to keep up, says Semafone's Gary E. Barnett.
February 14
Semafone -
The North Carolina-based credit union hopes an injunction will prevent further use of that branding until a trademark infringement suit is settled.
February 13
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The three cease and desist orders and one written agreement had cited separate concerns at JPMorgan Chase, Discover, Deutsche Bank and RBS.
February 13
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It can be hard to spot insider fraud, duplicate invoices and service glitches by hand, says AppZen's Anant Kale.
February 13
AppZen -
Despite advances in anti-fraud technology, scams remain a major problem for the energy industry, as criminals continue to exploit vulnerabilities present within the current system.
February 13
