Legal issues and news

Growing home prices plus rising interest rates are putting a damper on mortgage lending, which pushes the market to seek out less qualified borrowers and increases the risk of fraud.

The assessment is designed to get banks on the same page in combating cybersecurity and make it easier for institutions and regulators to assess their performance.

Executives offer support to lift investment bankers’ morale; retailer’s move from Synchrony Financial could force card issuers to make concessions.

Building a blockchain solution that adds greater transparency in transactions has the potential to make KYC and KYT processes for crypto transactions much more efficient than the system in place, writes Ash Shilkin, president of Ivy.

Cash Express LLC allegedly sent customers threats of legal action even though the time for taking legal action had expired.

The hacks keep coming — most recently to Facebook and the federal government’s health insurance sites — and consumer trust in online security systems disintegrates along with them, according to a number of recent surveys.

The 25-year JPM veteran will pursue an opportunity elsewhere; private equity firms have a record $57 billion to loan for real estate.

A smaller provision for loan losses helped counteract declining loan volume and higher expenses during the third quarter.

The civil money penalty from the Office of the Comptroller of the Currency follows a 2015 consent order against the bank, which became a subject of federal questioning after it suspended its business with check cashers.

Consumer finance portal will be able to tell customers which loans they’ll qualify for; Marcus unit will soon offer investment services.

New York's new AML rules clarify how institutions should monitor transactions and screen sanctions lists issued by the US Office of Foreign Assets Control (OFAC). But critically, it goes a lot further, writes Sophie Lagouanelle, Head of Solutions at Accuity.

Kam Wong has been accused of submitting requests for fake expense reimbursements when he ran Municipal Credit Union.

Crowdsourced cybersecurity is making inroads into the world of big banks, even though there is a risk bad actors will exploit the opportunity.

The vast majority of card fraud in post-EMV Australia affects digital payments, a trend that has prompted government action, expedited security projects, and financial pressure on banks from retailers.

Stripe’s expanding global profile has come with a growing security risk operation, which will now be overseen by former Google security expert Niels Provos.

Main Street and Wall Street banks show strong earnings gains over last year; the president calls the Fed’s rate raising policies “my biggest threat.”

The central bank found that the increase in noncash payments fraud from 2012 to 2015 was still just a small fraction of overall payments.

In hundreds of cases, the prepaid card program run by the bank allegedly sent users’ funds to fraudsters who had stolen their data. The security lapse has now caught the attention of the Democratic senator.