Legal issues and news

The New York bank says it acted appropriately in withholding the collateral on a loan to a developer that First Foundation Bank later refinanced. First Foundation’s CEO begs to differ.

Rep. Carolyn Maloney said Tuesday that her legislation aimed at restricting anonymous shell companies could get a vote in the Financial Services Committee as early as the end of June, after consideration was postponed last week.

Uber will use Adyen's technology to incorporate the latest version of EMVCo’s 3-D Secure authentication, which has been updated to comply with PSD2 mandates for stronger identity vetting.

Restaurants, electronics sellers and digital-goods merchants are seeing sharp spikes in fraud as criminals find creative new ways to interfere in online and mobile commerce.

There are almost no vulnerabilities that aren't covered by some sort of intelligence or data, says Steven Rogers, president and CEO of Centripetal.

The short-term disruption is worth the benefits of improved security and user experience, writes IIya Dubinsky, head of the CTO office at Credorax.

Financial institutions have often criticized the agency’s publication of consumer complaints. But the information provided can offer executives important insights into looming problems that might not yet have come to light.

New legislation in Iowa that allows banks and credit unions to utilize electronic notaries could help local lenders compete with online competitors.

Traditional authentication practices are incapable of meeting the real-time demands, writes Frank Teruel, senior vice president and general manager of ThreatMetrix.

Wells Fargo creates unit to satisfy regulatory demands; U.S. Bank employee fired after blowing whistle on sales scheme, lawsuit says; what BBVA's new U.S. CEO has on tap; and more from this week’s most-read stories.

The bank may end its venture with First Data to work on its own; State Street and BNY Mellon's fee revenue from investor clients and stock prices are down.

The industry welcomed a proposed overhaul of how the government identifies False Claims Act violations, but some say it remains to be seen if the changes are enough to satisfy companies that had bolted.

Heightened regulatory scrutiny and a slowdown in commerce have raised concerns about the viability of doing business along the U.S.-Mexico border.

The Southeastern regional bank said Thursday that it had hired Lee Byrd to a new role dedicated to protecting customers and the company itself from fraud.

House lawmakers postponed a committee vote on legislation to require beneficial ownership disclosures, nearly a year after a different anti-money-laundering bill stalled over a similar provision.

Lawmakers are poised to advance a bill requiring that commercial customers identify their beneficial owners — taking that burden away from their financial institution — but the anti-money-laundering reform arguably most favored by banks has fallen off the radar.

Elder abuse costs banks $1 billion in deposits a year, according to AARP. It has launched a video-game-style online training program that teaches bank employees what to be alert for.

The Credit Union National Association has partnered with the group to help distribute the platform to financial institutions free of charge.

Amazon.com Inc. said it was hit by an "extensive" fraud, revealing that unidentified hackers were able to siphon funds from merchant accounts over six months last year.

A new study shows credit unions are confident about their ability to comply with recent changes to FinCEN guidance, but a closer look shows some concerns linger, especially regarding training front line staff.