Legal issues and news

The man who took 11 Alabama Credit Union employees hostage during an attempted robbery in January has reportedly told police he needed the money to pay for court costs in in a separate criminal case.

To battle the rise of new-account fraud, Dublin-based Experian has adopted a new tool from BioCatch, which uses behavioral biometric technology to spot fraudulent applicants.

Unlike other “suspicious activity report” categories, a new proposal to add a “cyberevent” category would require institutions to detect and report digital mischief whether directed at a customer’s account or the bank itself.

Justices on the Supreme Court appeared exasperated with both sides for a case that would define whether companies that buy distressed debt are covered under a federal statute setting limits on their activities.

Readers weigh in on a notable OCC personnel change, the Scottrade breach, the ability of corporate owners to still be anonymous and more.

The 110-page document offers plenty of new details about what went wrong at the megabank but may leave many wanting a truly independent investigation.

A review of activity that long ago would not shed additional light on the scope of misconduct in Wells Fargo's retail banking unit, CFO John Shrewsberry said in an interview.

The San Francisco bank says it's making strides in regaining the trust of its customers, but winning over new ones — as evidenced by a 9% decline in retail banking profits — remains a struggle.

Yman Vien says she lost her job at American Metro Bancorp because of her gender. The bank says the move was tied to poor decisions that led to a regulatory order in 2009.

The trade association's lawsuit challenging new field-of-membership rules may have the opposite effect, as more credit unions consider expansion before the litigation is resolved.

The 110-page document offers plenty of new details about what went wrong at the megabank but may leave shareholders wanting a truly independent investigation.

Lawmakers and others want the Trump administration to drop the Financial Stability Oversight Council's appeal of a controversial court ruling, but doing so may be harder than it sounds.

Banks tend to blame regulatory costs for de-risking without being honest about the need to improve anti-money-laundering procedures.

Finra now has punished just one person associated with JPMorgan's admitted nationwide fiduciary violation of its clients: a whistleblower.

A legal dispute between Wells Fargo and one of the largest bitcoin exchanges underlines persistent doubts U.S. banks have about participating in digital currency.

Bank earnings could be hurt this year as big retailers close stores and file for bankruptcy. The situation has sparked a debate about how much CRE and C&I books will suffer just as lenders were putting other commercial woes behind them.

From fraud to ongoing EMV issues and the challenge of getting to the top of consumers' wallets, there are no shortage of payments challenges facing credit unions.

A recent study concluded that financial advisers accused of misconduct are fired far more often when female, even though missteps cost less on average than those of male counterparts. Researcher Mark Egan explains the double standard.

The San Francisco bank is trying to turn the page with a new report that mostly pins blame on executives who have either left the company or been demoted, but the report shows the misconduct went further back than previously acknowledged.

The allowance by some states for companies to incorporate without disclosing beneficial owner information significantly hampers anti-money-laundering efforts and drives up bank costs.