Legal issues and news

Time and again, two former associates of President Trump deceived banks in connection with loan applications. Their wealth, proximity to power and willingness to tell big lies all appear to have helped them get away with brazen schemes.

U.S. prosecutors have accused four alleged Puerto Rican drug traffickers with the murder of banker Maurice Spagnoletti, seven years after he was gunned down on a San Juan highway as he drove home from work.

More acquainted with the quick decision-making style of the banking world, the comptroller of the currency found a policymaking environment in D.C. that moves at a slower pace.

The Marriott incident will open the door to loyalty program fraud, account takeover and myriad other risks, writes Michael Reitblat, co-founder and CEO of Forter.

A number of credit unions have been hit with lawsuits that claim they have charged members overdraft fees despite there being sufficient funds in checking accounts.

While fraud is a year-round concern, credit unions need to be extra vigilant during the holiday season.

ACI Worldwide is the latest to adopt technology from Israel-based BioCatch that monitors shoppers’ behavior to spot irregularities signaling potential fraud.

An institution in California calling itself Indian Federal Credit Union purports to be operational but does not have all the required regulatory approvals.

Credit card fraud is on the rise in the U.K. with more than $2 billion being stolen from credit and debit cards over the past twelve months, an increase of 38% on the previous year. But while large scale data breaches have been heavily blamed for this surge in crime, ex-fraudster Tony Sales says one of the most pertinent reasons is a persistent lack of understanding within the financial industry of how criminals operate.

Blockchain backers concede the hype is turning off bankers; Mulvaney's CFPB name change could cost industry millions of dollars; the one banking bill Congress might actually pass next term; and more from this week's most-read stories.

The regulator claimed Congress has already granted it the authority to define field-of-membership areas.

The New Jersey company terminated an acquisition after being hit with the order in 2016.

The move means the cap on asset growth may stay in place longer; the German bank reportedly processed 80% of the money laundered through Danske Bank.

Executives urged the consumer bureau at a public meeting to keep a closer eye on artificial intelligence innovations developed by fintech firms that are subject to less regulation.

An eight-month-old consent order appears to be forcing the San Francisco bank to grapple more deeply than it did previously with the many failures that led to its account-opening scandal.

It might be too early to determine the full impact of the new Visa Claims Resolution process designed to streamline and limit chargebacks, but 52 percent of respondents surveyed claimed no decrease in chargebacks since VCR, and most of the 33 percent reporting a decline cited a decrease of less than 5 percent.

Bank and credit union regulators issued a statement giving institutions the go-ahead to try artificial intelligence and other emerging tech to detect money laundering. It's just what some institutions have been waiting for.

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

Since banks are under constant attack by hackers, the startup XM Cyber is offering them a simulator that seeks to do its virtual worst in order to prevent a real breach.

The Fed wants more information on Treasury and mortgage-backed securities; will overlook compliance failures resulting from pilot programs.