Legal issues and news

For remaking East West Bank from a small savings institution into a $36.3 billion-asset player with a seat on the front lines of U.S.-China relations — all while churning out record earnings year after year — American Banker is recognizing Ng for being a "Consistent Performer" as part of our 2017 Banker of the Year awards.

District Judge Timothy J. Kelly ruled Tuesday that Office of Management and Budget Director Mick Mulvaney was the legal interim head of the Consumer Financial Protection Bureau, denying a request by Deputy Director Leandra English to block the appointment.

United Nations Federal Credit Union and two others have consented to pay $1.47 million for offering, marketing and underwriting unlicensed credit and debit card-based life insurance programs.

The trade group wants Equifax to reimburse community banks for costs tied to the massive data breach at the credit bureau this year. The ICBA also wants a court to order Equifax to improve its security measures.

Nearly half of the cardholders in the U.S. have had at least one card reissued in the past year, with those experiencing fraud multiple times saying they have had nearly five cards reissued.

The right platform can detect unusual behaviors and block fraudulent transactions as they occur, while still allowing real customers to make legitimate transactions without interruptions, writes Dave Excell, CTO and co-founder of Featurespace.

Bay Bancorp shareholders will get the added payouts if the Maryland bank's management settles a lawsuit and addresses a number of bad credits.

Credit unions are taking steps to ward off fraud as holiday shopping season gets underway.

By inserting the issuer into the dispute process at the outset and arming them with the necessary robust data to prove both customer identity and intent of sale, we can prevent the loss of millions in sales, writes Matthew Katz, CEO of Verifi.

The federal banking regulators should create a working group that, rather than propose new rules and regulations, would clarify the application of existing rules to blockchain technology.

The trial of Stefan Buck was an unusual courtroom showdown in the decade-old fight by the U.S. against tax evasion aided by financial institutions in Switzerland.

Hackers stole the personal data of 57 million customers and drivers from Uber Technologies, a massive breach that the company concealed for more than a year.

A week before he is due to resign, CFPB Director Richard Cordray sent a letter to 29 CEOs at banks, credit unions and other financial companies, urging them to help consumers exert more control over credit cards, debit cards and other payment methods.

A U.S. alcohol maker's $191 million investment in Canadian cannabis could raise difficult questions for the banks that have lent big sums of money to the company.

HSBC's private-banking unit was fined a record $51 million over sales of structured products linked to Lehman Brothers in Hong Kong.

A U.S. alcohol maker's $191 million investment in Canadian cannabis could raise difficult questions for the banks that have lent big sums of money to the company.

Sens. Elizabeth Warren, D-Mass., and Chris Van Hollen, D-Md., sent a letter to OCC officials suggesting that Bank of Tokyo was trying to avoid an investigation by New York examiners when it switched to a federal charter.

Widespread data breaches have sparked a rise in account-takeover fraud using stolen consumer credentials, prompting merchants to crack down on suspicious purchases. But too many legitimate customers are getting caught in the process.

The federal banking regulators should create a working group that, rather than propose new rules and regulations, would clarify the application of existing rules to blockchain technology.

The San Francisco company said Friday that it has terminated Franklin Codel, effective immediately, over an interaction he had with a former employee regarding that employee's termination.