Legal issues and news

Community banks, which could be the hardest hit if economic tensions between the U.S. and Mexico escalate into a tariff battle, are urging policymakers to refrain from rash action, and big banks are already trimming exposures.

Retail-focused Provident Bank has added an on/off switch that allows customers to suspend their debit cards. A few big banks rolled out similar features last year.

Retail-focused Provident Bank has added an on/off switch that allows customers to suspend their debit cards. A few big banks rolled out similar features last year.

Cash that flowed from Russia through a vast money-laundering network sometimes ended up passing through the world's largest banks, including Citigroup, Bank of America, and HSBC, the Guardian reported, citing a cache of financial records it reviewed.

The latest numbers underscore the extent of the challenge that the megabank faces in restoring its once-clean public image.

A bank took the unusual step of suing the FDIC over its Camels rating of 4 in a case that could set an important precedent for the industry.

The Justice Department told a federal appeals court on Friday that President Trump should have the authority to fire the head of the Consumer Financial Protection Bureau.

Some in the industry are faulting The Clearing House Association's plan to make anti-money-laundering rules more efficient.

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.

The Wells Fargo fake-accounts scandal is shining such a bright spotlight that more pervasive problems with the industry’s sales practices are getting lost in the shadows.

A database that identifies wrongdoers could prevent banks from making bad hiring decisions, but can it ensure that former employees' rights are adequately protected?

House Democrats want to know if the Department of Justice is doing a proper investigation into an alleged money-laundering scheme by Deutsche Bank.

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.

The traditonal method of scoring merchants based on risk may not work when the attack uses low risk merchants to hide illegal transactions.

Credit unions could be caught in the same net that led to the $586 million settlement the global money transmitter submitted to earlier this year.

Seniors typically have stellar credit and can be a good source of deposits in a rising rate environment.

Credit unions and financial institutions are required to take steps to protect against cyberattacks, but small businesses that process payments are not doing enough to protect the security of the financial system, a credit union executive said Wednesday.

Democratic senators are gearing up for a showdown with Republicans over a Consumer Financial Protection Bureau rule governing arbitration agreements in financial contracts.

A Long Island, N.Y., man was sentenced to prison time and ordered to pay $2.5 million after pleading guilty in June to ripping off distressed homeowners, said Christy Romero, the Tarp special inspector general.

A trade group owned by the nation's largest banks wants Congress to require state governments to collect information about the true ownership of the companies they incorporate. Such a law could reduce the banking industry’s cost of complying with anti-money-laundering rules.