Legal issues and news

The plan places a greater burden on bank managers to stop money laundering, with board members overseeing companies caught breaching the law also facing punishment if they fail to intervene.

Michael Blume oversaw the controversial effort to crack down on consumer fraud by pressuring banks to cut off certain merchants’ access to the U.S. payment system.

The Financial Crimes Enforcement Network thanked the $22.4 billion-asset credit union for its BSA reporting, which contributed to solving one of several crimes.

Readers chime in on the GSE conservatorships, bitcoin’s future, regulatory relief for regional banks, a recent Supreme Court ruling on debt collection, and more.

The American Civil Liberties Union is accusing JPMorgan Chase of violating the Civil Rights Act by discriminating against fathers when they ask for parental leave.

Copenhagen-based digital payments specialist Nets is rolling out a service in the Nordic region to screen against fraudulent transactions online, with a particular focus on “clickbait fraud” that aims to entice consumers to unknowingly authorize recurring payments in exchange for nothing.

IBM is set to announce new tools on Wednesday aimed at reducing the compliance burden of financial institutions and sifting through the mounds of data they collect by using Watson, its cognitive computer.

With internal and external fraud increasingly in the news at financial institutions, attendees at the Michigan Credit Union League's Annual Conference & Exposition explained how their credit unions are working to mitigate these threats.

Banks and other firms collecting defaulted debt originated by another company are not subject to the kinds of restrictions placed on third-party debt collectors, the Supreme Court ruled Monday in a unanimous decision.

At the Michigan Credit Union League’s annual conference, PayPal CEO Dan Schulman offered an overview of cyberthreats while praising the movement – an industry he considers a partner, rather than a competitor.

Stuart Scott was apprehended at the request of the American government as part of a probe into foreign-exchange-trading practices.

The ransomware attack caused fear across banks, retailers, health care and governments in May. But worse attacks may be on the horizon.

Litigation is soaking up a significant share of resources at the Consumer Financial Protection Bureau, which faces at least a dozen cases challenging its constitutionality and a surging number of legal disputes to its enforcement actions.

In the wake of allegations against subprime auto lender Santander Consumer, attendees of CU Direct’s DRIVE Conference discuss steps credit unions are taking to protect against fraud risks.

The trade group filed a brief backing an effort by the American Bankers Association to push back against the NCUA's planned revisions to field-of-membership regulation.

The ICBA has filed a supporting brief to the American Banker's Association's FOM suit against NCUA, but a rapid decision is unlikely, and the case has already dragged on longer than the bankers' MBL suit.

As payments get more complex, money laundering and other risks increase. Audits and advanced regulatory technology can help companies keep up, writes Performline CEO Alex Baydin.

It's time for credit unions, industry stakeholders and the movement's 107 million members to speak up and tell Congress to get serious about protecting members' data from retailer data breaches.

More business lending is shifting from banks to "murky" trusts as the government imposes more restrictions to reduce risky loans; 11 states advance suit as Justice Department retreats.

U.K. corporations are increasingly worried about business payment fraud, and while more than half fear attacks from the outside, concerns over insider fraud have spiked, according to a new report from Bottomline Technologies.