Legal issues and news

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.

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.