Legal issues and news

The Justice Department plans to defend President Trump's executive authority by siding with PHH Corp. in the mortgage lender's controversial case alleging the Consumer Financial Protection Bureau is unconstitutional.

Chip cards have decreased card fraud, but online fraud is on the rise. By asking the right questions, merchants can find payment partners that can fight the fraud migration.

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.

Any money laundering investigation could ultimately entangle banks that have done business with President Trump and his various firms over the years.

The San Francisco bank also disclosed Wednesday that certain foreign banks that were using its software to conduct trade-related transactions in violation of U.S. sanctions.

The regulator has banned a half dozen former credit union employees from participating in the affairs of any federally insured financial institution.

The Treasury Department's Financial Crimes Enforcement Network said Merchants failed to properly monitor money-services businesses that had ownership ties with bank insiders.

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.