Legal issues and news

Several megabanks have sued the National Credit Union Administration claiming breach of settlement in a previous case related to mortgage-backed securities, but trends may favor the agency.

As fraudsters get more sophisticated, better funded and increasingly connected, it’s clear that the fight against fraud will be ongoing, not a battle with a clear end, writes Rafael Lourenco, an executive vice president at ClearSale.

Criminals are inventing new ways to hide dirty money amid transactions for digital goods bought and sold on everything from Amazon to game-app sites. Banks need to wake up to the threat, says Ben Duranske, Facebook Payments' former compliance chief.

Coinbase Inc., one of the world’s largest cryptocurrency exchanges, is letting go of staff after the backlash it faced for purchasing a company allegedly linked to the sale of spyware to oppressive regimes.

The decision shows how hard it is to prosecute an individual banker; reports say Nordea, the Nordic area’s largest bank, handled suspicious transactions.

As companies invest heavily in artificial intelligence and other high-tech defenses, it is becoming more apparent that criminals are investing in equally powerful technology.

The settlement would mark a rare instance where the bank stands to benefit monetarily from a scandal that has severely damaged its reputation and cost it hundreds of millions in penalties.

Criminals attempted to defraud five credit unions – including two of the nation's largest – of at least $1 million.

A federal judge has offered a split decision in a suit regarding Marriott Employees Federal Credit Union, denying plaintiffs' request for damages but refusing to throw the case out entirely.

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.