Legal issues and news

The Federal Savings Bank is trying to persuade a judge to look beyond its CEO's alleged complicity in a fraud perpetrated by President Trump's former campaign chair.

Three former CFPB officials seek more enforcement against lenders; Federal Reserve interest rates hikes have boosted bank profits.

Four members of the Senate Banking Committee are trying to reach a compromise on legislation to revamp Bank Secrecy Act procedures after prior legislative efforts failed.

Any future machine-to-machine environment calling for communication and transactions will surely include a consumer's option to make payments through such a network. That turns any home or business into its own complex network of devices, routers, sensors, passwords, communication coding and private credentials.

Phishing is a serious and growing problem in the financial services and payments industries, creating pressure to come up with advanced detection techniques, according to Adrien Gendre, chief solutions architect for Vade Secure.

Four members of the Senate Banking Committee are trying to reach a compromise on legislation to revamp Bank Secrecy Act procedures after prior legislative efforts failed.

Proponents of real-time payments systems say banks must embrace them given consumer demand for more immediacy and transparency, even if criminals will try to exploit them.

Newly unsealed court documents make clear that regulators forced banks to terminate relationships with payday lenders and other lawful businesses, setting a dangerous precedent.

As U.S. banks move toward faster payments, they should heed the lessons U.K. banks learned about criminals after launching their real-time transaction system, says Varo Money's fraud strategy leader.

Miners of the digital currency are losing interest, which could lead to more price declines; scandal-scarred banks among those that endorse Principles for Responsible Banking.

The continued trend of “spear phishing” and “catfishing” only serves to highlight the complex work required to identify genuine from fraudulent, writes Steven Goddard, product manager for risk at The ai Corporation (ai).

PayPal is using Venmo's fast growth to power several initiatives, but the app suffered a damaging fraud surge early this year, showing it's not immune from enrollment fraud that challenges the entire P2P sector.

Cash-outs accounted for 80% of mortgage refinances in the third quarter; state will accept bitcoin for business tax payments.

Record bank profits could make it tougher to get more regulatory relief; banks monitoring older clients’ mental health.

From digital assistants and new branching strategies to revamped hiring processes and improved cybersecurity, these are the winners of the 2018 Best Practices Awards.

Black Friday and Cyber Monday up the ante for payment crime, but there are steps retailers and payment companies can take, according to OneSpan’s Will LaSala.

In a plea agreement, Kam Wong consented to forfeit and repay more than $9.8 million embezzled from the New York credit union. He is scheduled to be sentenced in April 2019.

The Massachusetts senator said the government’s findings bolster allegations that the servicer steered borrowers into expensive student loan forbearance plans.

Using machine learning to analyze payment data, the latest technology automates workflow and decisions, making fraud detection quicker and more efficient, writes Steven Goddard, product manager for risk at The ai Corporation (ai).

Société Générale pays more than $1 billion for working with Cuba and others; Fed vice chair in line for global regulator chief role.