Legal issues and news

Financial institutions and retail companies are trading barbs over which industry poses greater risk to sensitive customer information just as lawmakers are planning to take another stab at a data security bill.

The $12 million settlement forced WSFS to reduce its fourth-quarter earnings.

NCUA's February prohibitions include individuals who pleaded guilty to charges of theft, extortion and more.

A recent report from the agency settles a long-running debate about whether bankruptcy should replace Dodd-Frank’s “orderly liquidation authority.” The financial system needs both.

Limited data on fraud is a widely recognized issue and it was decided that incorporation into PSD2 was the most appropriate way to enforce a requirement, writes Matthew Attwell of The ai Corporation.

Two House Democrats are asking the Pentagon for information about its contacts with Stephen Calk, CEO of a small Chicago bank that made $16 million in mortgages to President Trump's campaign manager.

Aspiration Bank relies on software tools to pull data from diverse sources to prevent fraud in account applications.

Shares of the Providence, R.I., company plunged Monday after a news report that it faces possible legal risks from the latest charges filed against Paul Manafort, the former campaign manager for President Trump.

The MyCUID product is intended to help membes protect against fraud and identity theft by creating a lifetime "portable digital identity" not dependent on any central authority.

Stephen Calk is in the national media glare because his small Chicago-based bank made two enormous loans to Paul Manafort, President Trump's onetime campaign manager. Here’s a look at Calk's career and how he ended up in this spot.

The credit union trade organizations have come to the aid of LGE Community Credit Union, which is a party in a class action lawsuit along with 29 other FIs.

The war of words between acting Consumer Financial Protection Bureau Director Mick Mulvaney and Sen. Elizabeth Warren, D-Mass., the agency's architect, is escalating.

It’s unlikely a new chapter of the bankruptcy code for banks would be used in times of crisis or strengthen market discipline.

In Zelle’s national advertising campaign, the bank-run P-to-P network spotlights consumers paying a personal trainer, a babysitter and a neighbor. It sets an expectation that Zelle can be used like a credit card, and scammers have figured out how to exploit this trust.

It can be hard for bankers to carve out opportunities to tackle complex problems in today’s always-on culture, but it’s important for getting ahead.

Process would protect taxpayers from bailing out failed banks; bank plans to raze its midtown Manhattan headquarters and build a 2.5 million sq. ft. edifice on the site.

By failing to protect their customers’ data, financial institutions and others in the payments ecosystem are risking trust, the most important currency they have, writes David Barnhardt, executive vice president of product at GIACT.

The Chicago bank is denying a report that its CEO, Steve Calk, made $16 million in mortgage loans to former Trump campaign chairman Paul Manafort in exchange for a job in the White House.

The Puerto Rico-based bank failed in 2015. The FDIC, its receiver, is seeking unspecified economic and punitive damages from 16 lenders, including Bank of America, Barclays and Credit Suisse.

First Citizens, which wants to buy KS Bancorp, has filed a lawsuit to challenge a so-called poison pill provision that the much smaller bank's board recently passed.