Legal issues and news

Professor Rahul Telang at Carnegie Mellon University's Heinz College analyzed the behavior of 500,000 bank customers over five years to observe their reactions to adverse events such as fraud on their bank account. It’s a rare objective measure of the effect of fraud on customer retention.

The SEC is investigating the bank for selling clients mutual funds that charge marketing fees when other, cheaper funds were available. SunTrust expects an enforcement action.

The regulations follow a series of web attacks and data breaches, and require vigorous defense, reporting and response strategies.

The founders of the South Carolina bank, which liquidated after lavish spending and losses depleted its capital, paid a total of $55,000 in fines and face restrictions on future employment.

American Banker readers share their views on the most pressing banking topics of the week. Comments are excerpted from reader response sections of AmericanBanker.com articles and our social media platforms.

As more payment and financial services companies use the app store, there's vulnerability to new cyber attacks that try to take advantage.

The Consumer Financial Protection Bureau's arbitration rule will likely be overturned by Congress if the agency moves ahead with finalizing it.

The Consumer Financial Protection Bureau faces its first jury trial in April in a case that could test whether the embattled agency is overstepping its authority and if it can engage in what critics see as Operation Choke Point-style tactics.

Four retail managers are the first senior employees let go by the bank for their roles in the phony accounts scandal; federal court rules against investors in GSE suit.

Wells Fargo has fired its consumer credit solutions head and three other senior managers for actions related to a scandal involving employees creating fraudulent customer accounts.

A federal appeals court upheld a ruling that barred hedge funds from suing to overturn the U.S. government’s 2012 decision to capture billions of dollars in the profits generated by the mortgage guarantors Fannie Mae and Freddie Mac after their bailout.

As the Bank Secrecy Act approaches its 50th anniversary, legitimate questions have arisen about the efficacy of anti-money-laundering requirements and the burden of compliance.

The Consumer Financial Protection Bureau's temporary legal victory on Thursday has lowered the odds that President Trump will seek to remove the agency's director, Richard Cordray, despite repeated calls by prominent Republicans for his ouster.

Many customers at Neighborhood National Bank in San Diego offer check-cashing services that draw attention for Bank Secrecy Act compliance.

The EMV migration has caused fraud to migrate to other channels. Issuers can make consumers aware of this threat and give them a handful of steps to spot trouble.

The Clearing House asks Fincen to do more to fight AML; two federal courts side with consumer agency in separate cases, including question about its constitutionality

The EMV migration has caused fraud to migrate to other channels. Issuers can make consumers aware of this threat and give them a handful of steps to spot trouble.

The financial industry has been bracing for the Trump administration’s planned revisions to Dodd-Frank, but banks are taking aim at another, potentially even more consequential regulatory framework: the rules and procedures around curbing money laundering and financial support of terrorism.

A federal appeals court agreed Thursday to hear an appeal by the Consumer Financial Protection Bureau challenging a ruling last year that its single-director structure is unconstitutional, a victory for the embattled agency.

Banks are woefully unprepared to face potential cybersecurity threats stemming from third-party technology providers, according to a report issued Wednesday by the Federal Deposit Insurance Corp.’s independent watchdog.