Legal issues and news

The Treasury secretary told the House Financial Services Committee that he has been in coordination with the U.S. bank regulators to soften the impact of the United Kingdom potentially failing to strike a deal on its exit from the European Union.

The agreement with U.S. and U.K. regulators is on top of the $667 million it paid to U.S. authorities in 2012 for its handling of transactions that violated economic sanctions against Iran.

PR campaigns won’t be enough to salvage the bank’s reputation after a series of scandals. Instead, it should look into adopting a new name, among other crucial steps.

Clayton is the latest to raise concerns about bank loans to highly indebted companies; Wells Fargo’s performance took a hit with its reputation.

The bank agreed to modify loans to struggling U.S. borrowers as part of a 2017 settlement. Instead, it’s receiving credit for financing new mortgages that likely would have been made anyway.

Many U.S. banks, especially in Florida, are struggling to comply with U.S. sanctions against the Maduro regime. Some argue artificial intelligence can make it easier to distinguish between legitimate payments and illicit transactions.

The bank’s biggest shareholder says Wall Street shouldn't yield its next CEO; concern that mistakes that led to the financial crisis are being repeated.

Crooks are going after automated tax communications, text and streaming video. Here's what payment companies should do to educate their consumers, according to Robert Fodor, chief data scientist and vice president of fraud for Interac.

Since Wells Fargo’s phony-accounts scandal broke in 2016, the bank has appeared contrite in public. In private, it’s a different story.

Facebook Inc. housed dozens of cybercriminal groups that set up shop on the platform as online marketplaces to sell a variety of illegal services, such as stolen credit card information, account theft and spamming tools, a team of researchers found.

Commercial Bank of Ivanovo, in which former North Carolina Representative Charles Taylor owns an 80% stake, regularly broke anti-money-laundering regulations and used “schemes” to artificially inflate its capital, according to a central bank statement.

The number of IoT devices is growing quickly, but not all are properly connected to security systems, according to Pip Courcoux, sales and product manager for CLIQ Systems at Abloy UK.

As more stores either close down or try to ban the use of cash, they aren't necessarily driving cash users to cards and mobile wallets. Instead, they are driving some to an environment that is, counterintuitively, more cash-friendly than ever: e-commerce.

Compliance officers should demand better means to quickly gather, organize, and view data regarding accounts and transactions that may be partaking in financial crime, argues Elsa Chan, head of Americas for ComplyAdvantage.

System breaches similar to events at Equifax and Marriott could just as easily happen to credit unions, leading Mastercard and the credit union service organization, PSCU, to take protective measures.

The Massachusetts senator introduced legislation Wednesday that would require executives of large corporations to serve jail time when their companies commit crimes, including for violations of civil law.

American Banker won 11 journalism awards during the past week, including its first Grand Neal, the highest of the honors announced at this year's Jesse H. Neal business journalism awards.

Edward Rostohar was arrested after his wife informed authorities he stole from CBS Employees Federal Credit Union and was preparing to flee the country.

The bank's decision to select its general counsel as successor to Tim Sloan, albeit on a temporary basis, focused attention on its frayed relationships with the Federal Reserve and the OCC.

The chairwoman of the House Financial Services Committee said Tim Sloan's resignation as CEO was "long overdue" but that other executives and directors should be removed as well.