Legal issues and news

Businesses should not only focus on securing payments that come through, but also pay attention to account creation and logins to prevent them from becoming additional vulnerable points of exploitation, writes Justin Lie, CEO of CashShield.

The economy is ripe for another downturn in the months or years to come, and banks shouldn’t be lulled into a false sense of security.

The Trump administration and acting Consumer Financial Protection Bureau chief Mick Mulvaney won round one in a legal battle challenging Mulvaney's leadership. His critics will have a tall order trying to win round two.

Bankers remember Bob Wilmers not only for spearheading the growth of M&T, but also embracing his role as the industry's voice in turbulent times.

A Russian cybersecurity software company reported last week that a new group of cybercriminals had stolen $10 million from 16 community banks. But there's no hard evidence that actually happened.

Visa research contends consumers are interested in biometrics and consider it superior to traditional usernames and passwords.

With the holidays fast approaching, the attention of watchdogs, regulators, merchant acquirers and processors needs to be on both the bottom line and the more sophisticated forms of online fraud like transaction laundering, writes Ron Teicher, CEO and founder of EverCompliant.

The company, which had recently expressed confidence that the issue would be resolved, agreed last month to buy a bank in Florida.

The trade association argues that the Consumer Financial Protection Act contains no language regarding vacancies or resignations

Past statements by Office of Management and Budget Director Mick Mulvaney about the Consumer Financial Protection Bureau should disqualify him from leading the agency, according to New York Attorney General Eric T. Schneiderman and 16 other state AGs.

Over 30 current and former Democratic lawmakers filed a new amicus brief Monday supporting Consumer Financial Protection Bureau Deputy Director Leandra English to be reinstated as acting director of the agency.

The move signals that the Justice Department is satisfied with the bank’s upgrades to its compliance systems after it was ensnared in a money-laundering scandal in Mexico.

American Express is falling in line with Mastercard and Discover in eliminating the signature requirement for authorization on all card transactions at the point of sale, starting in April of 2018.

In a rare show of public support for a security technology, the banks are leading a $40 million funding round for Menlo Security, provider of browser technology that keeps malware at bay — and they’re using it, too.

The president's vow to come down hard on the San Francisco bank fans a debate about the independence of regulatory agencies such as the CFPB.

Advocacy groups filed an amicus brief supporting Leandra English’s suit to head the Consumer Financial Protection Bureau, arguing that President Trump's interim pick of Mick Mulvaney was illegal.

In the new role, Kenneth Montgomery will lead the Fed’s efforts to reduce fraud risk and improve the security and resiliency of the U.S. payments system

Tether's $31 million hack gave bitcoin skeptics plenty to crow about. But experts say bad security is to blame, not digital assets.

The president wrote Friday on Twitter that penalties against the San Francisco bank will be maintained, or possibly strengthened. The comments are likely to fuel a growing controversy about the independence of federal financial regulators.

Credit unions tend to have strong anti-harassment policies in place, but they're meaningless if they're written down and then forgotten.