Legal issues and news

Retailers have raised the bar in how they attract customers through rewards and loyalty programs, but not all are well-versed in how their technology also lures fraudsters.

The agency's director told congressional leaders and staff that she backs a Supreme Court challenge to the bureau's leadership structure.

Private Bancorp of America is the latest bank to report a borrower issue in connection with a high-profile fraud case tied to liquor licenses.

Fifth Third Bancorp becomes the largest bank to switch from state to OCC regulation; former Deutsche CEO named chairman of Man Group.

U.S. prosecutors have accused three JPMorgan traders of rigging futures trades in precious metals for nearly a decade, making millions of dollars for the bank at the expense of counterparties that included the bank’s own clients.

Hackers go in for the kill when challenger banks and others launch retail products. So the companies are forced to step up their defenses — fast.

As anti-money laundering requirements tighten in many jurisdictions, financial institutions and fraud prevention platforms are ditching legacy AML solutions for newer technology — but alternatives aren’t easy to come by yet.

Consumers and banks are both concerned about security tied to contactless payments, says Fingerprints' Lina Andolf-Orup.

The loan participation has been flagged for potentially fraudulent activity.

The bank is adding senior tech executives from Amazon and Verizon as partners; bank allegedly inflated prices and overcharged investors for mortgage bonds.

The CEOs of Sallie Mae and Discover Financial Services were largely dismissive this week of the threat posed by the two Democratic presidential candidates, though their optimism seemed to be rooted in an assumption that the more sweeping proposals will never become law.

Merchants won an extension to comply with PSD2’s new customer authentication rules, but as new rules for issuers go into effect next week, TSYS is rolling out tools that aim to do double duty.

The Supreme Court may be closer to examining a key restraint on a president's ability to change CFPB leadership.

Credit decisions were a natural place to start with artificial intelligence, but now banks and credit unions are taking the technology to all parts of their businesses.

The company says its exposure involves a participation loan to a business customer for which it was the originator.

Swiss financial regulator Finma said Libra would need a payment system license and would be subject to additional rules to take “bank-like” risks into account. The “highest international anti-money laundering standards” would also need to be applied, it said in a statement on Wednesday.

The unnamed borrower was the victim of an alleged scam by another company.

Speaking during NAFCU's Congressional Caucus, a leader from the U.S. Department of Treasury said credit unions can help the agency improve how consumers are notified in the event of a data breach.

Static fraud prevention has no place in the current digital world, says Accertify's Stuart Mann.

When the former vice president and Massachusetts senator appear together in Houston, they could present two contrasting visions of financial policy within the presidential field.