Legal issues and news

The Minnesota league follows on the heels of Pennsylvania, Nebraska and the Mountain West CU Association, all of whom joined the suit this week.

Readers weigh in on a blockchain-based credit bureau, react to the CFPB’s arbitration rule and chime in on calls to invest more in women.

The proposed 20% corporate tax rate would benefit banks more than other industries; online lenders made nearly a third of new personal loans in the first half.

Neural network systems — which try to emulate the human brain — will become increasingly important as the stolen identities from the recent Equifax breach and others start surfacing in the coming years on fraudulent payment card or loan applications.

CapStar Financial is suing an investor on claims he misled other shareholders and is trying to skirt bank holding company laws.

Rule that would have made it easier for banks to be sued is repealed; a survey says the technology isn’t a priority for bank CIOs.

With little fanfare, President Trump officially nixed the rule prohibiting financial firms from including mandatory arbitration clauses, earning praise from credit union trade groups.

With little fanfare, President Trump officially nixed the rule prohibiting financial firms from including mandatory arbitration clauses.

As more startups turn to initial coin offerings to raise capital, financial institutions will seek reassurance that their blockchain and other fintech partners are aboveboard.

Eight leagues/associations now are part of class action response to massive hack, with two leagues – representing CUs in Nebraska, Arizona, Colorado and Wyoming – joining on Halloween.

Many standard procedures are possible as there are significant similarities in the information requirements across the globe, writes Zac Cohen, general manager for Trulioo.

Political stalemates have convinced many executives that relief will only come when agency leaderships turn over.

Fraudsters deliberately target the holiday season, with more than half of annual fraud income taking place between September and December and chargeback rates increasing by up to 50% at peak shopping periods, writes Suresh Dakshina, president of Chargeback Gurus.

American Banker reporter Kate Berry explains the Senate's vote on arbitration and what the CFPB might do next.

CFPB Director Richard Cordray sent a letter to President Trump Monday asking him to veto a Republican resolution to nullify the bureau's arbitration rule.

The OCC has terminated orders against three of Fulton's banks. The company and two other banks still have BSA-related orders.

Calls for less reliance on credit bureaus and Social Security numbers for verification are leading many to envision a future of identity on a distributed ledger.

President Trump is expected to announce his Fed chair nominee this week; three deals earned JPM's boss almost $100 million.

It's been a decent year for banks, especially given the industry's return on assets hit a 10-year high. But there are signs it might not last. With Halloween near, here is a look at some potentially frightening developments that could keep bankers up at night.

Investors Bancorp in Short Hills, N.J., chased deposits in the third quarter in a move that drove up interest expenses and lowered profits.