Legal issues and news

The anti-bribery law that Stephen Calk is accused of breaking carries stiff penalties — up to 30 years in prison — but violations can be relatively hard to prove because prosecutors must establish the defendant had a corrupt state of mind.

While Noah Bank’s CEO has been accused of self-dealing in connection with SBA loans, its chairman says the directors had a succession plan ready to go and are rallying to rescue the bank’s reputation.

A former employee from a New York credit union pleaded guilty to theft and tax evasion while another was accused of falsifying records.

Facebook and Google were scammed out of more than $100 million, though artificial intelligence can help firms improve security, according to Anant Kale, founder and CEO of AppZen.

Its CEO says organic growth is preferable, but after spending five years tackling a series of enforcement actions tied to BSA compliance, the Pennsylvania bank has options.

Albert Ko, who had been the chief transformation officer of Intuit, says he will work to improve Zelle's interface to make it more appealing to consumers.

While advanced push payment fraud has dominated the headlines in recent years, another type of scam has been costing U.K. businesses millions — even though many companies are completely unaware of it.

The bank dropped out of the bidding for the card over profitability fears; returning to the market could boost Barclays' investment bank.

Data protection strategies need to consider how data travels and how that impacts vulnerabilities and breach risk, according to comforte AG's Jonathan Deveaux.

Jury's out on whether BB&T-SunTrust will serve the community or Wall Street; 'we were willing to shock historical norms,' says Otting on OCC's makeover; is it too late for Congress to stop CECL?; and more from this week's most-read stories.

Insecure software development and insufficient use of security best practices creates significant risk for both consumers and commercial organizations alike, writes Carl Wright, CCO of AttackIQ.

JPMorgan tells OxyContin maker to take its business elsewhere; reelection tallies are smaller than last year’s.

Charges against Stephen Calk indicate he lied to regulators about what he knew when he approved loans to Paul Manafort, as well as his interest in landing a job in the Trump administration.

The charge against Chicago banker Stephen Calk grew out of Mueller’s investigation into Russian interference in the 2016 presidential election.

CUNA and NAFCU have filed amicus briefs supporting the world’s largest credit union in a suit they say could set a precedent for CUs across the country.

Christian Sewing ready to make "tough cutbacks" while UBS may need a new strategy; SEC says Robert C. Morgan misled banks with fake loan papers.

Congress is considering multiple bills that could ease suspicious activity reports and beneficial ownership requirements, though its unclear how much support each measure has.

Some technology upgrade can leave databases open to the public internet, creating more risk for payment credential exposure and other risks, contends Ameya Talwalkar, co-founder and chief product officer of Cequence Security.

As part of the deal, the agency summarized its policy on account terminations and issued a letter acknowledging that some employees “acted in a manner inconsistent with FDIC policies with respect to payday lenders.”

The House Financial Services and Intelligence panels had "legitimate legislative purpose" in requesting President Trump's financial records, the judge said. It is the second such ruling this week.