Legal issues and news

The legislative response to the Equifax breach is increasingly bipartisan, but will congressional proposals actually reduce the threat to consumers?

The payday lending industry is planning to use the same playbook employed by the financial services industry in its fight against the CFPB's arbitration rule.

It has now been two years since the EMV fraud liability shift took effect in the U.S. for most companies. This is enough time to evaluate the EMV migration's effect on fraud, and whether it can be blamed for anything happening in digital channels.

Wilmington Trust and some of its executives had been accused of intentionally understating past-due loans in 2009 and 2010.

Fannie Mae and Freddie Mac were not affected by a hacking incident against the accounting giant Deloitte, the companies said Tuesday, after a British newspaper alleged a server containing emails from government agencies was compromised.

CFPB Director Richard Cordray is using the Equifax breach to suggest the CFPB be given power to examine credit reporting agencies for potential cybersecurity lapses.

An organized crime ring in Eastern Europe has orchestrated sophisticated cyber and physical attacks that have drained millions of dollars from banks in Russia, and FIs in other countries could be targeted next.

The massive data breach impacted nearly half of all Americans, and credit unions will now need to be on guard for a variety of fraud types that could arise as a result.

An organized crime ring in Eastern Europe has orchestrated sophisticated cyber and physical attacks that have drained millions of dollars from banks in Russia, and banks in other countries could be targeted next.

The trade groups assert credit unions will face long-term costs related to canceling and reissuing debit and cards, as well as dealing with reputaitonal risks and other negative factors

The lawsuit against Navient Corp. demonstrates that despite the recent appointment of more industry-friendly regulators in Washington, financial services companies still face significant legal threats from state capitals.

Wells Fargo executives and directors accused of steering the bank into the worst scandal of its modern history were ordered to defend a lawsuit accusing them of profiting from the creation of millions of fake customer accounts.

Wells Fargo's home state of California passed a law aimed at curtailing the bank's use of closed-door arbitration to shroud complaints from aggrieved customers affected by its scandals.

The bank plans to contact all customers who paid fees for rate lock extensions during a three-and-a-half-year period and to refund any who believe they should not have been charged.

Former Equifax CEO blames one employee’s mistake for the massive hack; Warren calls Sloan “incompetent” and says he should be fired.

Wells Fargo CEO Tim Sloan took heat from Senate Democrats, who questioned his fitness for the job, the bank's use of mandatory arbitration clauses and even whether its charter should be revoked.

Former Equifax CEO and Wells Fargo chief both expected to issue mea culpas to Congress; Goldman apparently likes digital currency.

The workers who have been brought back do not include any of the more than 5,000 employees who were fired for alleged misconduct, according to the company.

Though many of its policies were in place before news of the Equifax breach came out, Mountain America Credit Union is doubling down on its approach to protecting member data.

Mastercard is unveiling an anti-fraud tool that’s been in development for more than three years, bringing a new way to pinpoint cards and accounts at the highest risk of fraud following data breaches.