Legal issues and news

The plan identified five risk areas — including cybersecurity — that will be on the agenda for agency examiners next year.

Large retailers want the right to reject rewards cards at the point of sale to avoid higher swipe fees; Germany's financial regulator appoints an auditor to monitor the Deutsche Bank's progress.

This European regulation means fraud detection will inevitably need to evolve as the fraudsters find new ways to exploit new loopholes, according to Catherine Tong, vice president and general manager for Accertify.

The comments by Tim Sloan, 58, came after reports that the Wells board may be looking to replace him.

A deaf woman who had over £8000 stolen from her bank account by fraudsters has become the latest symbol of the insecure practice of using phone numbers as proof of identity.

For businesses that serve a predominantly millennial audience, knowing the age group’s tolerance toward online security measures is an important lesson that coincides with customer retention, according to David Britton, vice president of industry solutions of global fraud and identity at Experian.

Every month, from January to April of this year, there were roughly 3.2 billion attacks perpetrated by malicious code that infiltrated business' networks. Representatives of smaller financial institutions disputed the notion that they are one of the weak links in the chain.

More than half of U.S. financial institutions have made same-day ACH funds available without seeing any major shifts in fraud. But observers warn that as same-day ACH introduces broader access and bigger transactions, it will become a bigger temptation for fraudsters.

The Danish bank updates amount laundered; Goldman near deal for its Simon app.

The New York Post reported Wednesday that Wells Fargo board members met with Trump White House alum Gary Cohn about becoming the bank's next CEO, but were rebuffed. Here's what to conclude from the article.

The comments came on the same day that Denmark’s largest bank announced the resignation of CEO Thomas Borgen and said that as much as $234 billion flowed through its tiny Estonian unit between 2007 and 2015.

The Danish bank found more than $200 billion of suspicious deals at its Estonian branch; merchants can opt out of the deal as another case on network rules continues.

Advocates are seeking more federal funding for affordable housing. A federal investigation into the banks’ alleged manipulation of a popular tax-credit program can’t be helping their cause.

A recent bill to update data breach notification requirements has pitted state and federal credit union trade groups in opposing camps.

With technology tightening defenses against account fraud, scammers increasingly turn to what they view as the weakest link: the human being at a call center.

The payments, which total more than $10 million, stem from a 2017 settlement with the Federal Trade Commission. The agency charged that NetSpend deceived consumers by advertising that they could get immediate access to their funds.

Marianne Lake could be JPM’s eventual choice to succeed Dimon; three agencies investigating money laundering allegations against Danske Bank.

Apple Federal Credit Union and Envision CU are the latest to be targeted in a growing trend as plaintiffs go after credit unions alleging deceptive overdraft practices.

Speaking at an investor conference in New York, John Shrewsberry addressed a recent media report saying regulators had rejected Wells Fargo’s restitution plan for overcharged auto customers.

The prospects are tough for Thomas Borgen of Danske Bank, whose Estonian unit has been described as a central pipeline for laundering as much as $9 billion between 2007 and 2015 in dirty money, mostly from Russia.