Legal issues and news

The company sees increasing consumer demand for cryptocurrency, especially in Asia, and gradual acceptance among financial institutions.

Consumer Financial Protection Bureau Directors Kathy Kraninger is under pressure to ask a federal judge to lift a stay that has kept the agency's short-term-lending rule from going into effect.

James Farrell, who ran New Haven County Credit Union from 1992 to 2015, transferred funds from the CU's general ledger into the account of a local business.

Consumer trust is hard to win, easy to lose, and eroding daily as attackers achieve success with fraudulent transactions, says NuData Security's Justin Fox.

Tina Eide, Amex's senior vice president of global fraud, discusses the card issuer's efforts to strengthen its transaction monitoring.

Many companies have tools in place alerting them to possible security issues, but if companies get a large volume of issues, this quickly overwhelms the ability for security and risk professionals to analyze, prioritize, and remediate, writes DivvyCloud's Chris DeRamus.

The case of a pastor wrongly-accused by Wells Fargo has mandatory arbitration back in the spotlight; JPMorgan started buying securities long before talk about rate cuts; more banks are turning to M&A to acquire talent; and more from this week's most-read stories.

Alan Kaufman was one of six individuals in August to be barred from having any dealings with the affairs of a federally insured financial institution.

Debit cards often lack the rewards and spending power of credit cards, and thus do not figure prominently in TV ads or direct mail flyers. Yet despite these limitations debit cards are beloved by millennials and anyone else who wants to avoid credit card debit.

With lots of day-to-day IT tasks and countless systems to configure, it's easy to make mistakes, says Brian Kelly, CEO of CloudBolt.

An appeals court said that Marietta, Ga.-based institution's overdraft agreements were "ambiguous" and now the case might be settled at a trial.

New unit will work with foreign governments; standards too soft on those without conventional paychecks.

Just as AI technology is being leveraged by hackers to create botnet armies, it can be utilized by organizations to better detect these very attacks, writes Imperva's Terry Ray.

With the Federal Reserve last month citing synthetic identity fraud as a growing concern for financial institutions, there's more pressure to detect fraud at the start of the relationship.

A pastor who was falsely arrested for check fraud because of errors made by Wells Fargo employees may be forced to resolve legal claims against the bank in arbitration. The case renews questions about banks' use of the process.

Any time a new market opens up, fraudsters rush in to exploit it — and this is especially true of high-risk markets like gambling.

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.