Legal issues and news

Several banks won’t process cybercurrency transactions while others are reviewing their policies; agency promises flexibility to lenders.

Nano Financial will offer new technology to Commerce Bank's commercial customers as it considers ways to license it to other financial institutions.

There are a number of tactics and solutions organizations can employ to shut down the favored methods of fraudsters, including the use of bots and device compromise, writes Michael Lynch, chief strategy officer at InAuth.

In the ever-changing era of cyber threats against payment and personal data, it is dangerous for companies or financial institutions to spend a lot of time or money establishing defenses only against external threats.

In a strongly worded memo to staff of the Consumer Financial Protection Bureau Tuesday, acting Director Mick Mulvaney indicated the bureau will value the concerns of companies it regulates to the same extent as consumers.

The Consumer Financial Protection Bureau appears to have concluded no enforcement action is necessary for World Acceptance Corp., which had been accused of trying to profit from repeat borrowers.

A federal appeals court on Tuesday agreed to expedite the appeal brought by Leandra English, the deputy director of the Consumer Financial Protection Bureau who has sought to unseat acting Director Mick Mulvaney.

E-commerce merchants battling fraud that comes from multiple directions often need to use several different solutions that don’t always mesh well, bogging down the checkout process and inadvertently blocking good transactions.

Bank will add 400 branches and boost mortgage lending; the company attempts first acquisition since it nearly failed during the financial crisis.

In a blow to the Consumer Financial Protection Bureau, a federal judge rejected the agency's request for over $280 million in penalties against the California lender CashCall, ruling that the lender's violations did not justify such a large fine.

The proliferation of wearable devices, their increasing sophistication, the uptick in wearable-optimized applications and the willingness of consumers to trade PII for convenience is converging to create a perfect storm of risk that has the potential to threaten commercial enterprises, writes Michael Lynch, chief strategy officer at InAuth.

The wave of sexual harassment claims has forced a very public reckoning in certain industries, but financial services firms had largely escaped the spotlight. The departure of a Bank of America executive could signal that the industry has problems lurking behind the scenes.

Wells may have settled with former employee Claudia Ponce de Leon because it wanted to avoid the "massive exposure" of a jury trial, an expert says. It is unclear how the agreement will affect Wells’ other cases.

"I've told people from the day I walked in there, I wasn't there to burn the place down or blow it up," the consumer bureau's acting director said at a White House briefing.

The Financial Stability Oversight Council filed a joint motion with MetLife that all but cemented the 2016 court ruling throwing out the insurance giant's designation.

If anyone has doubted that acting Consumer Financial Protection Bureau Director Mick Mulvaney intends to overhaul the agency, the last three days alone have put those doubts to rest.

The Office of the Comptroller of the Currency’s semiannual report on industry risk said tougher competition between banks, leading to looser underwriting, could arise from the economic expansion.

Breaches help crooks diversify, but stolen cards thrive in the black market, writes Angel Grant, director at RSA's fraud and risk intelligence unit.

The anxiety that a crook is using a lost or stolen card can be a powerful lure to mobile technology, Citigroup has learned.

The P-to-P payments service promises to clear transactions in near-real time, but many consumers have complained that they have been unable access their money or even open accounts. Zelle has acknowledged the delays and says they are a result of its rigorous enrollment process.