Legal issues and news

Royal Bank of Scotland Group has agreed to pay $500 million to the state of New York after a $5.5B agreement last year with the FHA, and another probe is pending.

Fiserv is rolling out a fraud-detection and decisioning service for issuers from Mastercard that aims to increase the accuracy of card transactions they approve or reject based on potential fraud.

The Minneapolis bank has been operating since October 2015 under a consent agreement that stemmed from deficiencies in its efforts to combat money laundering.

There's been a legislative bottleneck since the the crisis-era law went into effect, but Congress has moved forward on a handful of significant changes.

A federal judge has thrown out another ADA suit targeting a credit union website, but the industry is still waiting for clarity from the Department of Justice.

The Russia probe puts a national spotlight on a Chicago bank exec; CFPB's Mulvaney and Sen. Warren face off (again) while a credit union CEO takes a surprising position on the industry's tax exemption.

The estimated costs of recent digital glitches at BB&T, TD and Wells Fargo are in the hundreds of millions of dollars, but contractual and economic realities make it hard for banks to sue vendors for the money or fall back on insurance policies.

A Michigan appeals court has reversed an injunction in a fight between Michigan First Credit Union and the Detroit Pistons after a canceled sponsorship agreement.

California State Treasurer John Chiang, who’s on the boards of the state’s biggest pension funds, was among those who said the changes weren't enough. Chiang also called for CEO Tim Sloan to step down.

Money launderers are opportunists and the real estate sector is a weak link when it comes to regulation, writes Jay Ryan, an executive vice president at Accuity.

The Securities and Exchange Commission may be focusing on the sale of options known as simple agreements for future tokens in connection with initial coin offerings.

The Seattle company first disclosed an issue in September, when it withdrew an application to buy Anchor Bancorp.

Financial companies that derive most of their revenue from online and mobile channels have substantially higher fraud costs than do similarly sized companies that rely less on the internet, according to a new report.

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.