Legal issues and news

Revolut has caught the attention of U.K. regulators over money laundering compliance, a predicament that sheds light on issues faced by the entire digital financial services industry.

At least five banks have warned about the potential loss of tax benefits if it is proven that DC Solar operated an investor scheme.

The U.S. embassy wants to meet with Sweden’s financial regulator over AML concerns; revelation that he borrowed to buy Barclays shares doesn’t sit well with others.

A data-driven approach, regardless of human or machine involvement, is a state that organizations need to move to in order to maximize detection in the present and to ease the transition to a more primarily machine-driven future, writes Oliver Tearle, head of research at The ai Corporation.

The National Credit Union Administration issued a prohibition order against Deborah Peters, who worked at Wilkes-Barre City Employees Federal Credit Union.

The effort comes more than a year after Republicans successfully blocked a CFPB rule that would have banned mandatory arbitration clauses in financial contracts.

American National Bankshares is trying to force the proposed American Bank & Trust to change its name.

Victor Karpiak stepped down as CEO of First Financial in 2013 after years of wrangling with a prominent activist investor.

Credit unions must walk a fine line between making interactions for members as easy as possible while also providing robust protection against evolving cybersecurity threats.

Bank’s involvement and complex financing draw ire of Barclay shareholders; banks report financial deceit by those who know seniors.

Bankers should pay attention to a recent case in Wyoming in which regulators have sought to bar two executives for misusing confidential bank information for the benefit of a rival institution.

The U.K.’s major banks are urging regulators to allow for greater flexibility in processing high-risk transactions, in a bid to tackle ever-rising levels of financial crime.

Bank makes first hires for its corporate cash management business; the former Fed chair says the industry is too focused on profits.

The House Financial Services Committee will hold eight hearings next month, looking at Wells Fargo's recent consumer protection scandals, a reauthorization of the flood insurance program and more.

Former Managing Director Timothy Fletcher banished for role in referral hiring; Apple-Goldman collaboration shows banks fear missing out.

Payment crooks are behaving more like organized crime syndicates, and that's putting merchants, processors and banks on the defensive, argues Yossi Geller, a vice president at Paygilant.

OCC orders USAA to improve risk management; White House's mixed signals complicate housing finance reform debate; Rhode Island bank snaps up dealmaking boutique; and more from this week's most-read stories.

The OCC said that branches in New York, Los Angeles and Chicago will be required to take certain corrective actions, but it did not hit the Japanese-owned bank with any financial penalties.

City sues seven banks for alleged price fixing on floating-rate bonds; analyst says “the most negative revelations are yet to come” in the 1MDB scandal.

By using the dark web as a cybersecurity tool, instead of an ungovernable threat, financial institutions can intercede and interdict compromised card data post-breach, pre-fraud, writes Ted Kirk, vice president of strategic partnerships for Advanced Fraud Solutions.