Legal issues and news

Mark Begor said Wednesday that banks and other customers will receive regular updates on the credit reporting agency’s efforts to improve its cybersecurity in the wake of last year’s massive data breach.

The Securities and Exchange Commission is pitching a fake initial coin offering to educate investors on the pitfalls of too-good-to-be-true ventures.

A long-anticipated financial rule could help law enforcement root out illegal activity, but it requires banks to keep extra-close tabs on certain business clients. That won't be easy.

Money launderers seem to be ramping up their use of a favorite strategy to clean their illegal funds — paying a small fee to a bank account holder to simply receive and send money transfers. And these so-called money mules are starting young.

From a refresher on basic payments terminology to the new battle of VHS vs. Betamax, here are some of the highlights from the recent Trellance conference in Fort Lauderdale.

What was unusual about CEO Kam Wong's alleged fraud wasn't that it happened but that it happened at such a large credit union.

A long-anticipated financial rule could help law enforcement root out illegal activity, but it requires banks to keep extra-close tabs on certain business clients. That won't be easy.

A multilayered approach that allows one type of fraud tool to pick up the slack when another layer fails, according to Robert Capps, a vice president at NuData Security.

This would be the bank’s first foray into credit cards; Wells Fargo says it won’t be able to comply with Fed requirements before next year.

The embattled company said Thursday that the asset cap imposed by the Federal Reserve will likely remain in place through “the first part of 2019.” Is this a sign of further delays to come?

A new set of principles by Envestnet’s Yodlee, Quovo and Morningstar's ByAllAccounts aims to settle a much-debated issue in data sharing: which party is liable when a hack occurs.

A river of drug-cartel money flowed through the U.S. arm of Dutch banking giant Rabobank, and now federal investigators are pursuing criminal cases against former senior executives for allegedly covering it up.

The bank said it kept fee rebates that should have gone to a small pension fund; some women say the company's “bro” culture hinders their advancement.

Royal Bank of Scotland said it reached a tentative agreement to pay a $4.9 billion penalty to resolve a long-running U.S. probe into its packaging and sale of mortgage-backed securities before the 2008 financial crisis.

Wells Fargo must pay $97 million to home mortgage consultants and private mortgage bankers in California who didn't get the breaks they were entitled to under the state's stringent labor laws.

The initiative was rolled out during CO-OP's annual THINK Confernece, taking place this week in Chandler, Ariz.

Deputy Attorney General Rod Rosenstein thinks some companies are overpaying for their crimes, and he wants that to stop.

Kam Wong, chief executive at the high-profile, $2.9 billion credit union that serves the NYPD, among other municipal workers, has been charged with fraud.

Among the findings, credit unions may not be doing enough to protect against malware, which involved in nearly 40 percent of hacking incidents, as well as Trojan botnets and denial of service attacks.

For the second time in a year, the scandal-scarred bank has launched a brand campaign aimed at restoring trust with customers.