Legal issues and news

A Spanish effort to prosecute a gang that used Bitcoin automated cash machines suspected of being a front for illegal-drug payments has exposed a hole in European anti-money-laundering controls, law enforcement authorities in the country said.

The Justice Department is investigating the bank for possible money laundering violations; the Fed chair says Facebook’s plan raises “serious concerns.”

Powell sees need to "keep firms on their toes" while Quarles wants easier tests; €52 million paid to leaving execs nears total paid to board.

The agency had decided not to challenge a recent court ruling that its structure violates the separation of powers, but newly confirmed Director Mark Calabria now appears willing to the fight the case.

Elavon will work with Mastercard and its Brighterion AI unit to battle payment card fraud, the companies said in a Tuesday press release.

The bank will reduce its footprint to its German roots; U.S. banks are offering cash bonuses to keep customers from fleeing to higher-yielding accounts.

Questioning whether core-banking technology is nearing a 'big shake-up'; Capital One keeps closing branches, even as rivals open them; FASB chair defends CECL, saying 'the benefits justify the cost'; and more from this week's most-read stories.

Executive searches are hard enough, but a shortage of qualified candidates with strong resumes will make filling those jobs that much more challenging.

Fraud targeting accounts payable departments had been on the rise to begin with, but a new sense of urgency has taken hold in the wake of a recent incident that cost Facebook and Google $100 million.

Brazil has one of the world's worst payment fraud problems, which has come in handy for ClearSale as it tries to cut transaction decline rates for online payments globally. The Olympics also came in handy.

The president says he’ll nominate Judy Shelton, Christopher Waller for Fed; the bank reportedly in talks to sell parts of its “once prized” equities business.

Gregory St. Angelo was part of a loan and tax credits scheme with other senior executives that funneled him more than $50 million, federal prosecutors said.

An employee at a Canadian cooperative recently stole nearly 3 million members’ personal data. Here’s why it matters to U.S.-based credit unions.

The ban, which came to light Monday, will remain in effect until either the final disposition of Stephen Calk’s court case or until it is terminated by Comptroller Joseph Otting.

Security companies report a recent spike in spearphishing campaigns originating in Iran and targeting banks.

A large portion of business expensing, particularly travel and entertainment, takes place well outside of the office, making it tough for decision-makers to monitor, according to Yash Madhusudan, Co-Founder and CEO of Fyle.

Linda Landry, who at one time led Southeast Texas Employees FCU, has been barred from participating in the affairs of any federally insured financial institution.

The banking trade group sent a letter to the National Credit Union Administration board and Inspector General, arguing that a report released earlier this week was a a "wake-up call."

As lawmakers meet this week to discuss artificial intelligence, they should work with regulators to create universal and workable definitions.

Sen. Elizabeth Warren blasted Jamie Dimon for reviving a policy that pushes JPMorgan Chase's credit card customers into arbitration to resolve disputes instead of the courts.