Legal issues and news

The firm will pay $110 million to settle charges it didn’t control traders; hedge fund executive says he was wrongfully accused of sexual misconduct.

The Federal Savings Bank has been under a spotlight since it was revealed that it provided $16 million in mortgages to onetime Trump campaign manager Paul Manafort.

The National Credit Union Administration has banned seven former credit union employees from participating in the affairs of any federally insured financial institution.

Cyberattackers attempted to penetrate Mexico's electronic payment systems Friday, forcing three banks to enact contingency plans, according to people familiar with the matter.

Not a penny of the $1 billion fine against Wells Fargo will end up in the hands of customers harmed by practices flagged by regulators.

Dan Rollins engineered nearly a dozen deals while at Prosperity Bank. Now CEO at BancorpSouth, he has returned to M&A after spending four frustrating years dealing with compliance issues.

The Federal Trade Commission alleges in a lawsuit that the company's "no-hidden-fee" pledge is deceptive. LendingClub says the claims are unwarranted.

Companies that handle sensitive customer data have even more to worry about when making an acquisition. Not only do they have to be sure the acquired company has good security, but they can't let their guard down even after the acquisition closes.

When regulators recognize ICOs as securities offerings, they will likely require issuers to fully comply with standard Know Your Customer (KYC) and Anti-Money Laundering (AML) regulations, increasing compliance pressure, according to Ron Teicher, CEO of EverCompliant.

CEO Tim Sloan and board chair Elizabeth Duke fielded tough questions Tuesday on everything from the embattled bank’s culture to its ties to the private prison industry.

The bank faces June 15 AML compliance deadline; the features that make Zelle popular with customers entice thieves.

A federal grand jury in Charlotte, N.C., has indicted a former credit union CEO with fraud in connection with the U.S. government's Troubled Asset Relief Program.

The issues at Wells Fargo extend beyond the fines; Ally Financial's auto finance chief departs; ICBA chief Cam Fine signs off; and more from this week's most-read stories.

Recently filed court documents give the clearest sign yet that the National Credit Union Administration is considering appealing a controversial court decision on the regulator's revised field-of-membership rule.

The bank’s latest punishment would settle charges by the CFPB and the OCC; Staley did not act without integrity in trying to unmask a whistleblower.

E-commerce payments technology provider Stripe is launching a fraud prevention tool for security professionals at large organizations.

ATMs require dual-factor authentication in the form of a physical card and a PIN, and this same concept should be extended to phone transactions, writes Patrick Cox, CEO of TRUSTID.

A class action filed last week alleges that Renovate America and Renew Financial failed to provide consumer protections promised to L.A. County, that this constitutes elder abuse, and the county is complicit.

A $135 million increase in litigation expenses related to its 2011 acquisition of Wilmington Trust overshadowed a wider net interest margin and improved credit quality for the Buffalo, N.Y., company in the first quarter.

Whether due to costs, growing cyber threats or other factors, a growing number of credit unions are outsourcing an important C-level security role.