Legal issues and news

By employing a multilayered approach to mobile security that combines device authentication with the latest user identification measures, retailers can establish maximum trust not only with their users, but also in the device being used to transact with them, writes Michael Lynch, chief strategy officer for InAuth.

CFPB director’s departure gives President Trump the chance to revamp the agency; the bank regulator is reverting to its industry-friendly ways.

As consumers’ personal information is compromised almost daily, hackers are increasingly targeting banks.

Policymakers have made significant progress in the assigning of regulatory accountability, but more work is necessary.

During the past year, many have hoped for action from Washington that would alleviate regulatory burden and stem the rapid pace of consolidation. But in the current political environment, that appears increasingly unlikely.

In mid-2015, several thousand banks registered for dot-bank domains. More than two years later, only a few hundred have converted.

Trump officials have made clear their intent to reexamine how Federal Housing Administration lenders are cited under the False Claims Act, but whether that means lenders can rest easier is an open question.

Outsiders gained access to customer information at Southern National Bancorp of Virginia using a malicious email. Other financial institutions, meanwhile, are implementing policies in hopes of avoiding the same fate.

The disagreement is tied to Walnut Street, an entity formed in 2014 to move certain commercial loans out of the bank. Separately, the company is facing a civil money penalty from the FDIC tied to issues with a third-party payment processor.

The spread of Alexa, Siri, Google Assistant and Samsung's Bixby is changing the way consumers interact with technology. Behind the scenes, artificial intelligence is doing more than ever to handle and protect payments.

Most larger credit unions have reissued chip-enabled cards, but some small CUs have lagged — and it’s nearly impossible to get an industry-wide picture of where adoption stands.

The Consumer Financial Protection Bureau filed a lawsuit Wednesday against Freedom Debt Relief and its co-CEO for allegedly deceiving consumers.

The Treasury Department on Wednesday named Kenneth A. Blanco, a longtime criminal prosecutor with the Justice Department, the director of the Financial Crimes Enforcement Network.

Call centers are becoming a prime target for fraud due to some shockingly lax controls and the ease of social engineering attacks in an environment where employees are trained to put the customer first.

Wall Street and its allies in the House are trying to kill the Consolidated Audit Trail, a supercomputer that will allow regulators to detect market abuses, punish wrongdoers and better understand why markets sometimes crash.

The Fed’s new chief bank regulator wants to change “the tenor of supervision”; Ron O’Hanley, who was named president this week, will also take over as CEO by the end of 2018.

For most retailers heading into this year’s holiday-season sales crunch, the epic Equifax data breach was only the latest in a series of escalating threats that are having a profound effect on the way they handle payments.

China enacted sweeping changes to a business competition law to address fraud in the e-commerce industry, which is plagued by malfeasance ranging from fake positive reviews to merchants goosing sales numbers.

The HUD secretary’s comment that such use of the False Claims Act was “ridiculous” may delight the mortgage industry but does not bode well for taxpayers or the federal government’s future fraud enforcement efforts.

Four executives who sold stock after the company discovered a security breach had no knowledge of the incident when they made the trades, the company said. However, the status of federal investigations is unclear.