Legal issues and news

Attorney General Barbara Underwood’s office is looking into whether merchant cash-advance companies engaged in fraud or abused the state court system.

The National Credit Union Administration and other federal regulators said in a joint statement that they will take an institution's level of innovation into account in supervising its anti-money-laundering procedures.

The agency's semiannual report on risks in the industry focused heavily on the high volume of commercial loans as well as banks' exposure to nonfinancial corporate debt, which is near a record share of GDP.

The federal regulators said in a joint statement that they will take a bank's level of innovation into account in supervising its anti-money-laundering procedures.

The bank would add to monitoring of employees outside the U.S. in response to the 1MDB scandal; financial firms seek help to automate more systems.

The federal regulator issued bans related to theft and other charges.

A boost in chargebacks can put a damper on higher transaction volumes and digital shopping, according to Chris Marchand, vice president of business development at Verifi.

The new CEO is trapped in the same feedback loop of negative news, rising funding costs and declining revenue that foiled his predecessor.

The central bank may be looking at other benchmarks besides the fed funds rate to conduct monetary policy; dropping human appraisers from most home sales raises concerns.

Danish lawmakers say that the probe currently focused on Danske Bank should be expanded to include more firms.

As Congress weighs Bank Secrecy Act reforms, some worry that reducing suspicious transaction filings would be a gift to criminals.

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.