Legal issues and news

Some in the industry worry the Fed may balk at allowing OCC charter recipients into the payments system, but Otting downplayed those concerns.

Fragmented and manual AML processes pose a challenge to many institutions, contends Edmund Tribue, risk and regulatory practice leader for NTT.

The U.S. Supreme Court turned away a broad challenge to the structure of the Consumer Financial Protection Bureau, the agency that Republicans say has stifled economic growth through over-regulation.

Widespread hacks often make front-page news, while measuring the actual harms to customers when personal financial information is stolen gets little attention.

Technology-driven systems aren’t enough to root out anti-money-laundering violations. Congress should consider creating a program that would encourage those with knowledge of illegal behavior to come forward.

The senator wants Treasury to enhance fraud protection in the Direct Express prepaid program — now a partnership with Comerica Bank — when its contract is rebid in 2020.

Housing and auto sales are just the first sectors to feel pain from rising rates; BlackRock may have identified its next CEO.

By adding device, cryptographic keys and behavioral ID, fake biometrics become harder for crooks to use, according to Bimal Gandhi, CEO of Uniken.

From anti-money-laundering reform to pot banking, there are deals to be had on financial services legislation. The question is whether anyone wants to make them.

A machine learning-driven analysis can aid with risk, financial performance and fraud prevention, according to Anant Kale, founder and CEO of AppZen.

Technology-driven systems aren’t enough to root out anti-money-laundering violations. Congress should consider creating a program that would encourage those with knowledge of illegal behavior to come forward.

Santander taps JPMorgan Chase exec Colleen Canny to lead retail network; can Trump actually fire Fed's Powell?; will 2019 bring long-awaited reform of Fannie Mae, Freddie Mac?; and more from the past two week's most-read stories.

The accounts — which eschew paper checks and overdraft protection — appeal beyond the low-income customers they were intended for; lenders are embracing artificial intelligence systems to analyze more data to determine creditworthiness.

Readers respond to Wells Fargo's latest fine, weigh Sen. Elizabeth Warren's potential bid for president, consider how banks are preparing for climate change and more.

Industry trade groups, which have been active in fighting lawsuits that allege violations of the Americans with Disabilities Act, hailed the decision.

Both CUNA and NAFCU have responded to the bureau's request for input by raising concerns about cybersecurity, public complaints and more.

Despite strong performance in the industry overall, analysts expect regulators to shutter more institutions in the years ahead.

With a divided Congress in place, policymakers will face challenges in passing major financial legislation this year. But there are still a number of core issues set to be debated.

A Colorado businessman's request for a preliminary injunction to stop the bank from using the name “Erica” has been denied. The overall case could still go to trial, but skeptical comments by the judge suggest BofA will likely prevail.

Two former credit union employees were banned as the result of theft and other claims from the NCUA board.