Legal issues and news

A panel of experts at this year's ACUMA conference says credit unions must find ways to collaborate while still remaining innovative.

Wells Fargo is extending a 6-year-old fight with a whistleblower, despite a government order to immediately reinstate the former employee.

The embattled Smith may lose severance benefits, depending on firm’s probe into data breach; Clayton grilled about why the agency took so long to act after Edgar hack.

The accounting firm says only a "very few" clients were affected by the cyberattack; former CEO Mike Cagney's wife, the lender's chief tech officer, is leaving.

The Consumer Financial Protection Bureau’s final rule on arbitration clauses may be bad news for alleged corporate wrongdoers like Equifax and Wells Fargo, but surely for the victims of such wrongdoing — and for consumers, generally — it is good news indeed.

The auditing and consulting firm said Monday that it’s currently informing the clients affected and has notified governmental authorities after it became aware of the incident.

Ironically, the credit bureau’s rise was built on promise to safeguard customers’ most sensitive information; bank to build global ops center in Warsaw.

Ellen Patterson is one of just 21 TD employees with an EVP title globally and the only female EVP based in the United States.

A year ago, then-Wells Fargo CEO John Stumpf testified before two committees. It went so poorly Stumpf later resigned, and the bank is still struggling to repair the damage. Here's how Equifax CEO Richard Smith can avoid the same fate.

Readers chime in on debates about ILCs, the CFPB’s arbitration rule, the financial services ambitions of tech firms and more.

Sen. Elizabeth Warren, D-Mass., is broadening her probe into the data breach to look at whether the company should have disclosed the breach sooner and if it plans to claw back compensation.

The Consumer Financial Protection Bureau’s final rule on arbitration clauses may be bad news for alleged corporate wrongdoers like Equifax and Wells Fargo, but surely for the victims of such wrongdoing — and for consumers, generally — it is good news indeed.

Democrats have strived to paint recent scandals at Wells Fargo and Equifax as prime examples of why a regulatory rule banning mandatory arbitration agreements should be upheld, but Republicans are not wavering in their campaign to overturn it.

Summit Credit Union in Madison, Wis., has filed what's believed to be the first lawsuit by a financial institution in connection with the massive data breach.

First Green Bank in Florida started researching the business after its chairman saw how medical marijuana had helped his wife cope with a severe injury. The bank is now turning a profit a year after adding its first pot-related client -- and there could be lessons there for credit unions.

The hearings before the Senate Banking Committee have high stakes for both companies, as lawmakers are expected to ask the CEOs whether they should be fired.

The Florida bank started researching the business after Ken LaRoe, its chairman, saw how medical marijuana had helped his wife cope with a severe injury. First Green is now turning a profit on this business a year after adding its first pot-related client.

Unlike a visiting sports team, foreign banks can't just blame local referees they perceive as biased for penalties or fines.

Historically, the industry has placed much greater emphasis on preventing fraud at the point of transaction without doing enough to stop fraudulent account openings, writes Melissa Townsley, co-founder and CEO of GIACT systems.

Federal Reserve Chair Janet Yellen said Wells Fargo’s treatment of customers was “egregious and unacceptable," hinting that more regulatory action was likely.