Legal issues and news

CEO tells employees he wants them to be 'impatient' in fixing the bank’s woes; the new independent body would police banks’ compliance with AML regulations.

The company is under law enforcement scrutiny for loans that helped propel a boom and bust in the taxi medallion market in New York City.

The case — the card issuer's third in six years — is an example of the legal peril that banks and other companies continue to face over the use of automated phone calls for debt collection and other purposes.

The former credit union employees are now banned from working at federally insured institutions.

Airlines have become a magnet for online fraud, as criminals refined methods to tap channels with higher payoffs.

Issuance of securities backed by the ostensible Libor replacement hit by money market turmoil; Jho Low will surrender luxury assets.

Financial institutions are more likely than ever to fall victim to hackings and data breaches. Here's how credit unions should respond when – not if – they are attacked.

While sophisticated computer algorithms are increasingly used in the fight against fraud, criminals are still exploiting various loopholes to access consumer card and bank details, particularly for those opening new accounts.

Anticipating demand from internet of things and advanced smartphones, Fingerprint Cards AB has launched a new multi-biometric technology platform that combines iris screening with facial recognition.

Treasury secretary says regulators could look to help ease liquidity logjam in money markets; workers will get special bonuses for the third straight year.

As the number of payment types and channels increase, manual processes to handle fraud can rapidly become unmanageable, says The ai Corporation's Oliver Tearle.

The complaint alleges the lead plaintiff was charged two separate fees for the same transaction and she didn't have sufficient funds.

As consumers are increasingly moving to mobile devices to conduct financial transactions, they are enticing fraudsters to follow them into the mobile channel, according to new research from TransUnion's iovation unit.

President Xi wants faster research on blockchain, the technology behind digital currencies; low rates bring best home loan quarter in 14 years.

As Cybersecurity Awareness Month draws to a close, Credit Union Journal queried industry leaders about the biggest threats facing their institutions.

Beneficial-ownership legislation is within the banking industry’s reach, but the prospect of new regulatory burdens for small businesses is forcing lawmakers to choose sides.

Severe attacks are on the rise in all sectors, including financial services. There are several specific defenses banks can employ to mitigate and recover from them.

The government has used the law to bring fraud claims against Federal Housing Administration lenders, but the new steps respond to criticism that minor offenders were also getting punished.

With more baby boomers aging, credit unions must adopt policies and practices to help identify and stop these crimes.

Regulators globally are using "tech sprints" to test new anti-money-laundering solutions. More can be done, but it's a good start.