Legal issues and news

Two Michigan credit unions were sued by an individual who claimed their websites didn't comply with the Americans with Disabilities Act.

There are several ways attackers take advantage of payment systems. Understanding that is part of the battle, according to Bill Horne of Intertrust Secure Systems.

With lawmakers unlikely to act in the near future to ease financial institutions' regulatory burden, new technologies could be the solution to credit unions’ AML woes.

Not only does it illustrate the willingness of regulators to impose massive fines for massive data breaches, it also reminds us that this situation could be just the tip of a financial iceberg, says White Hat Security's Mark Rogan.

When lawmakers return from their August recess, a host of unresolved financial policy issues — from marijuana banking to anti-money-laundering rule — will greet them.

House Financial Services Committee Chair Maxine Waters, D-Calif., and a bipartisan congressional delegation met with Swiss government officials last week to discuss Facebook’s plans to launch and operate a digital currency.

Blockchain and distributed ledger technology offer many of the basic elements that are essential components for PCI DSS compliance, writes Doug Wick, chief product officer at ALTR.

Banks are expected to appeal last week’s field of membership ruling, but credit unions must also explain why part of their new rule doesn't discriminate.

Nearly three years after NCUA passed the rule, credit unions are ready to broaden their reach, but the possibility of an appeal to the Supreme Court may put those efforts on hold.

Financial crime screening solutions that are fueled by high quality sanctions and screening data will be a crucial component to achieving success in this complex compliance environment, writes Accuity's Nirhjar Daripa.

An inspector general’s findings suggest that the Texas bank could face more consequences over how it handled fraud cases last year tied to the Direct Express program.

There is always the chance that privileged employees will either become bad actors who use their access to confidential data for their own gain, or that they will succumb to a hacking attempt and thereby open the door to an external bad actor, says Unisys' Maria Allen.

The movement has suffered several black eyes during the last 18 months. We should be worried about long-term damage to our reputation.

If firms don't enroll consumers quickly for card accounts, it suggests other elements of the institution may also be suspect, says Kofax's Dermot McCauley.

The FDIC and the OCC relax the rule restricting proprietary trading; home buyers with bad credit, lots of debt, or employment issues are again getting loans.

The mobile payment revolution has made mobile banking apps even more lucrative and attractive to crooks.

A panel of federal appeals court judges reversed a district court’s decision on NCUA’s controversial field-of-membership rule, but saw merit in bankers’ claims of potential redlining.

The Granite State’s highest court upheld a lower court’s ruling in a suit claiming the banking trade groups had defamed the patent firm.

Following an article by American Banker and ProPublica that detailed how political appointees weakened the penalties paid by two large banks, the Massachusetts senator is demanding more information from the Justice Department.