Legal issues and news

California lawmakers have voted to authorize the establishment of state-chartered banks for the limited purpose of serving the marijuana industry.

Fulton Financial, Univest Corp. of Pennsylvania and Franklin Financial Services disclosed a total of $75 million in exposure to the commercial relationship.

Speaking at an industry conference Thursday, Wells Fargo CEO Tim Sloan left open the possibility that employees intentionally falsified important regulatory documents.

Wells Fargo customers who didn't consent to having 3.5 million accounts created by bankers trying to hit sales quotas are finally getting what a judge called "rough justice."

The $1.9 trillion-asset bank is under pressure to provide investors more information about when it expects to resolve the numerous headaches that have arisen in the wake of its phony-accounts scandal.

The bank sought to evade the consequences of compliance failures including weak scrutiny of transactions that could be tied to North Korea, the N.Y. banking superintendent said in demanding access to communications between the bank and its new supervisor, the OCC.

With President Trump signing the regulatory relief bill into law on Thursday, credit unions expect to see a host of benefits, including changes to MBL regs, HMDA exemptions, changes to the QM rule and more.

In an age of quick processing for digital payments, transaction disputes can still take weeks for a resolution or chargeback — an unacceptable time frame for e-commerce. To hasten dispute resolution, some vendors are beginning to offer financial incentives to merchants that agree to speed up the process.

The Senate bill is a huge win for the financial services industry, but there are still plenty of unresolved legislative issues of interest to banks and credit unions.

The Senate bill is a huge win for the banking industry, but there are still plenty of unresolved legislative issues of interest to financial institutions.

Treasury Secretary Steven Mnuchin said that banking records of President Donald Trump's lawyer Michael Cohen appear to have been leaked from a database maintained by his department.

A British court throws out Serious Fraud Office charges that the bank conspired with Qatari investors to prop it up; investigators open 70 cases against potentially fraudulent cyber deals.

A number of credit unions and banks have been accused of operating websites that violate the Americans with Disabilities Act. Here’s why trial lawyers are targeting them and are expected to sue more.

Several dozen banks have been accused of operating websites that violate the Americans with Disabilities Act. Here’s why trial lawyers are targeting them and are expected to sue more.

E-commerce payment fraud losses are mounting, giving merchants the opportunity to dump responsibility on their technology partners, but there's no surefire way to totally offload the financial hit.

Deadlines imposed by U.S. and EU regulators are giving banks intercontinental whiplash.

Employees reportedly unit doctored documents; payments company buys Swedish fintech firm just before it goes public.

News that Wells commercial banking employees improperly altered client documents will likely embolden the most vocal critics of
CEO Tim Sloan, who they say can't seem to resolve Wells' lingering problems.

For cryptocurrency entrepreneurs in particular, many of whom are just developing the anti-money laundering programs they are required to have under other FinCEN rules, the CDD rule is worth taking note of, writes Laurel Loomis Rimon, senior counsel at O'Melveny & Myers LLP.

JPMorgan and Santander show off their uses for the technology; commercial and industrial loans outstanding are rising.