Legal issues and news

The payments company is working with nonprofit organizations, law enforcement authorities, victims and others to make it harder for the criminals behind the modern slave trade to move money.

The bank’s former Asia investment banking co-chief is its third executive to be so punished; the agency says Telegram’s digital coin is a security.

Instead of a live caller engaging in social engineering with a single prospective target, automatic dialers call thousands of people, instructing them to call bogus telephone numbers purported to belong to the IRS, Social Security Administration, or their bank, says The Santa Fe Group's Bob Jones

The bank would make small-business loans on the online retailer’s platform; Fed survey says banks worry about increasing delinquencies, especially in subprime.

Of all of the valuable consumer assets that fraudsters like to steal, loyalty or rewards points or cash is becoming a favorite.

The shift from person-to-person deposits to digital options – including mobile, ATMs and RDC – has created new challenges to fraud prevention efforts.

The U.S. banking system risks being left behind by the European Union and the United Kingdom when it comes to open banking.

Magecart attackers steal credit card or bank data directly from the checkout pages on e-commerce websites and resell them on the dark web, says PerimiterX's Ameet Naik.

The regulator's most recent prohibitions include multiple charges of fraud, theft and embezzlement.

The consumer bureau alleges the Providence, R.I., bank mismanaged billing error claims over a six-year period. Citizens Bank says it is “puzzled and disappointed” by the agency’s action.

The American Bankers Association said it’s offering a new online course because of increased demand by members for training tailored to banking.

It seems the payments industry is once again pushing liability to the merchants with no plans to hold anyone else along the payments ecosystem accountable for ensuring that viable solutions are available, says the Merchant Advisory Group's John Drechny.

Critics of the OCC have long maintained that the agency was too close with the San Francisco bank. A watchdog's assessment of what transpired between 2009 and 2017 is expected to be completed late this spring.

The group, which serves community development credit unions, filed a brief suggesting that changing the bureau to a bipartisan commission could have an adverse impact on smaller institutions.

Some fraudsters pose as loan applicants and submit doctored video or photos of property and assets to scam lenders they won't see in person. Firms like Elevate Funding and Credibly are fighting back.

The regulators plan to drop the 3% limit on bank investments in venture capital funds; Visa invests in another fintech startup.

For banks and other financial institutions to survive and thrive in the age of mobile payments and e-commerce, they need to continue to enhance their mobile apps with more innovations, tighter security features and more time-saving capabilities.

For banks and other financial institutions to survive and thrive in the age of mobile payments and e-commerce, they need to continue to enhance their mobile apps with more innovations, tighter security features, and more time-saving capabilities, says Informa Financial Intelligence's Gina DeCorla.

Democratic lawmakers, state attorneys general and others filed briefs with the Supreme Court rebutting claims that the agency’s leadership structure is unconstitutional.

Democratic lawmakers, state attorneys general and others filed briefs with the Supreme Court rebutting claims that the agency’s leadership structure is unconstitutional.