Legal issues and news

Citi says David Madaras sent a profane message that confirmed the name of a confidential client, but he says the messages were read out of order and misunderstood.

The London-based bank overbilled customers by nearly $50 million through violations including collecting excess mutual fund fees.

After a bogus-accounts scandal spooked new clients and crimped profitability, Wells Fargo may eliminate more branches and dismiss staff.

Repealing or modifying regulators’ authority to take over failing banks may actually increase the risk of taxpayer-funded bailouts, said former Federal Reserve Board Gov. Daniel Tarullo.

In the way that Gap and Victoria's Secret are ubiquitous in the malls dotting the suburban landscape, it is unlikely fintech partners will be exclusive to one bank.

Mobile apps are becoming the playground and hiding place for cyberattacks and the criminals who orchestrate them.

One recent study says local and regional FIs face the greatest risk of losses from ransomware, but there are steps CUs can take to mitigate that risk.

As China's only gambling center, the island has become a crime risk, pressuring greater security for card transactions.

Police in Sydney, Australia reportedly arrested two men this week suspected of using Host Card Emulation technology to make fraudulent debit card purchases amounting to AUS$1.5 million (US$1.1 million).

The landmark ruling remands the city of Miami's 2013 suit against Wells Fargo and Bank of America to the lower court.

Money laundering in Latin America is said to be worsening and a corruption probe in Brazil adds to the worries, but Latin American banks are fighting hard to preserve business with U.S. banks.

The beneficial ownership regulation, meant to catch financial criminals, has produced data that is useful in making small-business loans, LexisNexis Risk Solutions says.

Verizon's 2017 data breach investigations report reads like a psychology playbook: If you keep pounding on the same information and calls for action, some of it has to sink in at some point. But that point hasn't arrived yet.

The New Jersey company's profit growth was constrained by an 11% increase in compensation and benefits and an 85% jump in consulting fees tied to compliance and other issues.

That was just one of the five prohibition orders issued by the National Credit Union Administration in April.

Readers weigh in on Wells Fargo investors reelecting state regulators suing the OCC, Wells Fargo's annual meeting, ultralow interest rates and more.

As restaurant security issues mount, it's important to have a set of sophistiated tools that can mitigate and respond to fraud, writes John Christly, global CIOS of Netsurion.

The Delaware company reported loan growth and, for the first time in months, no charges tied to an outstanding regulatory order.

With an ever-increasing number of unsecured devices connected to one another, the potential for cyberattackers to overwhelm any organization is a clear and present danger.

Financial services companies and groups are increasingly willing to take the regulatory regime to court in an effort to fight back — and so far, they appear to be succeeding.