Legal issues and news

BB&T has said the outage, which blocked customers' account access for hours, cost it about $20 million.

BB&T has said the outage, which blocked customers' account access for hours, cost it about $20 million.

The National Credit Union Administration barred a half-dozen people from participating in the affairs of any federally insured financial institution following charges of theft, fraud and other offenses.

The ruling by a three-judge panel means the president will lose control of his long-secret business and personal records at the two banks unless the full court reconsiders or the U.S. Supreme Court blocks the decision.

The Financial Crimes Enforcement Network and other regulatory agencies confirmed that the recent legalization of the substance eases banks' anti-money-laundering requirements.

The number of fintech startups has declined rapidly; several banks are using customer data to help customize retail offers.

The number of fintech startups has declined rapidly; several banks are using customer data to help customize retail offers.

The agency’s director previewed a policy for companies under enforcement action to have their orders terminated if they comply ahead of schedule.

The agency’s director previewed a policy for companies under enforcement action to have their orders terminated if they comply ahead of schedule.

The bank is likely to tout asset management at its upcoming investor day; credit union assets have exceeded banks' growth in the past decade.

While manual fraud prevention may be manageable at first, as the number of payment types and channels increase, it can rapidly become untenable, says The ai Corporation's Mark Goldspink.

While we expect growing consumer demand for biometrics, we also expect to see payments industry players move toward these types of future-proof technologies and away from legacy password-type systems, says Nuance Communications' Simon Marchand.

While manual fraud prevention may be manageable at first, as the number of payment types and channels increase, it can rapidly become untenable, says The ai Corporation's Mark Goldspink.

The bank is likely to tout asset management at its upcoming investor day; credit union assets have exceeded banks' growth in the past decade.

The 2020 elections and a potential new chair of the Senate Banking Committee in the next Congress could put a deadline on passage of a bill to ease a key anti-money-laundering requirement for banks.

USAA won $200M from Wells Fargo in patent fight — will others be on the hook?; three takeaways from regulators' approval of the BB&T-SunTrust merger; don't believe the doom and gloom on Fannie, Freddie; and more from this week's most-read stories.

The bank will continue to hold cash in sweep accounts until 2031, although at a lower rate; capital requirements could lead big banks to hold off lending.

One-time expenses at a handful of large banks marred an otherwise solid quarter, while higher charge-offs point to possible credit-quality concerns.

The high court scheduled oral arguments on March 3 in the lawsuit dealing with a president's ability to fire the head of the Consumer Financial Protection Bureau.

The Bank is poised to pick two people to handle Simon Potter’s former job; Securities backed by subprime U.S. car loans are “going gangbusters.”