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Financial fraud in the U.S. has become so sophisticated that it now has its own internal economy, complete with supply chains and customer service. Banks need to wake up to the reality that the landscape has changed.
February 17
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An ugly legal dispute between two San Diego credit unions offers a warning about what can go wrong when careful relationship-building doesn't precede a marriage.
February 17
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Attorneys from Holland & Knight warn that Treasury is targeting financial services companies in Minneapolis and at the southern border in an AML crackdown.
February 13
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The Wall Street investment bank had staunchly defended Kathy Ruemmler over her previous association with Jeffrey Epstein.
February 13
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A Washington court denied a plaintiff request, pointing to past Supreme Court rulings that showed a compelling interest for the state's special-purpose credit program.
February 12 -
In a major setback for banks and credit card networks, a federal judge upheld an Illinois law that bans the collection of interchange fees on sales tax and tip portions of card transactions. Banks are expected to appeal the ruling.
February 11
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Houston developer Colony Ridge Development agreed to resolve allegations that it operated a bait-and-switch scheme targeting Hispanic immigrants that led to massive foreclosures.
February 10
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Top takeaways from American Banker's 2026 Predictions report finds that midsize bankers push for app investments and are concerned about wire transfer fraud.
February 10
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The Government Accountability Office was tasked with investigating the Consumer Financial Protection Bureau's stop-work order, but CFPB officials refused to meet with or provide information to Congress' investigative arm.
February 9
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Check fraud has risen 385% since the pandemic, with criminals using stolen mail and digital tools to deceive major financial institutions.
February 9
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Renat Abramov, a former relationship manager in Brooklyn, bypassed know-your-customer protocols to open accounts for shell companies involved in a $14.6 billion scheme.
February 5
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Fraudsters and modestly dishonest employees can use generative AI to quickly create convincing fake utility bills, pay stubs, passports and other documents banks rely on.
February 5
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Prosecutors allege Curtis Weston and a bank insider used fraudulent loans to fund stock market trades, leaving the bank with $20 million in losses.
February 4
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At a hearing Tuesday, executives at the Swiss banking giant faced tough questions from both Republicans and Democrats. The lawmakers are unhappy with the bank's recent decision to withhold certain documents from a lawyer who's overseeing research regarding Nazi accounts.
February 3
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Prosecutors claim the Forbes 30 Under 30 honoree maintained two sets of books to hide Kalder's actual revenue of just $60,000.
February 3
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Court documents reveal how a teller used the drive-through window and work email to aid a scheme that bypassed TD's fraud defenses.
January 30
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Prosecutors argued the 23-year-old courier knew he was aiding criminals, citing texts about "gold rushing" and scammer videos on his phone.
January 27
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A Delaware judge denied HoldCo Asset Management's emergency motion for a temporary restraining order to stop the deal from closing. Fifth Third plans to complete its purchase on Feb. 1.
January 27
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TD Bank's Ruchira Ghosh, Northwest Bank's John Fick and Visa's Nikolaus "Nik" Walser, with moderation by American Banker's Penny Crosman
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Eightfold AI, which many companies use as they screen job candidates, is being accused of gathering information about applicants without their consent. The lawsuit also alleges that the company uses an algorithm to judge candidates without explaining how it works.
January 26
