Legal issues and news

Once companies can recognize their customers without constantly asking security questions, they can shower them with benefits to enhance the shopping experience while bolstering their brand, writes Robert Capps, vice president at NuData Security, a Mastercard company.

The company said the aim of a redesign and additional automation is to make its compliance software easier for bankers to use.

The payments company said it plans to spend $1 billion to $3 billion a year on acquisitions; NYS fines bank $205 million.

The settlement resolves one of several regulatory issues that have dogged the German bank's U.S. operations.

Jelena McWilliams said the agency will ask banks what's working and what's not; the acquisition of Hyperwallet Systems lets PayPal offer more services.

The National Credit Union Administration is set to vote on revisions to its field-of-membership rule, even as it's entangled in a legal dispute with the American Bankers Association over the rule.

The idea of an email scam may bring to mind the clumsy phishing cons from the early days of online banking, but the tactic's latest incarnation is a bigger threat than ever.

The House Financial Services Committee was scheduled to vote on legislation to modernize anti-money-laundering rules, but the latest version of the bill excludes a key provision involving the collection of beneficial ownership information.

From a major CFPB deadline to a long-anticipated fintech report, there's a lot to watch for in the days to come.

From a major CFPB deadline to a long-anticipated fintech report, there's a lot to watch for in the days to come.

Wells Fargo on the receiving end of USAA's long-standing intellectual property threat; millions are mad about Erica, Bank of America's virtual assistant; relief may be in reach for bankers fed up with SARs; and more from this week's most-read stories.

The agency has provided new information about changes large and midsize banks are making in the wake of the Wells Fargo scandal, but Senate Democrats continue to press for more details.

The settlement is the latest development in probes by governments around the globe into banks’ manipulation of benchmark interest rates.

The settlement applies to customers who had accounts opened without their consent over a 15-year period beginning in May 2002.

Of all the types of malicious software targeting businesses, ransomware continues to be one of the most pervasive, according to recent studies. Here's an overview of the things banks, especially small ones, are doing to stop it.

The new chair of the Conference of State Bank Supervisors argues that state regulators will keep protecting consumers if the CFPB curtails oversight.

Businesses are tasked with carrying too much of the burden of protecting customers' personal information, and typically turn to Social Security numbers. The advent of self-sovereign identity may give consumers a chance to reclaim control over their data and how it’s used, Finicity's Nick Thomas writes.

The legislation unveiled this week left out a requirement — included in an earlier version — for new companies to report their true owners.

Dan Heine and Diana Yates were accused of hiding Bank of Oswego's condition by inaccurately reporting bad loans.

Institutions that have been opening consumer accounts without consent need to prepare for the fallout, even if the OCC has said it won't name names.