Legal issues and news

The pressure on banks to become less risky backfires when they respond by curtailing services that are vital in a functioning financial system.

Nacha, the bank industry group that oversees the automated clearing house network, has appointed six industry executives to its board.

The marijuana industry is still hampered by its own banking crisis, but the rigidity of federal laws is not stopping all advances in financial services for the sector.

Federal and state banking regulators are still struggling with how to come to grips with banks whose clients are heavily involved in digital currencies like bitcoin — and that may be curbing interest from many in the financial industry.

The potential for more convergence between financial products and physical products raises a whole host of data and privacy issues that banks must deal with proactively.

Money-laundering episodes included a purported Whitey Bulger associate looting a church's coffers and the arrest of a Houston socialite on gambling-related charges.

Authentication methods meant to keep cybercriminals from taking over accounts can also lock out legitimate users. This old dilemma is growing more vexing as cybercriminals get better at impersonating customers and as regulators increasingly push multifactor authentication.

A Colorado credit union's failed court battle against the Fed has led to renewed calls for U.S. lawmakers to offer stronger protections to financial institutions that provide banking services to legal pot growers and distributors.

After enduring a slew of post-crisis scandals, bankers are beginning to see the light on becoming stewards of their organizations.

Bank regulators will stiffen their requirements and identity theft will escalate, but banks will toughen up their defenses.

A new digital currency backed by gold is billing itself as a more compliant, liquid and ultimately reliable store of value than decentralized systems such as bitcoin.

Regulators and institutions appear far apart when it comes to so-called "de-risking," in which banks drop businesses for fear of enhanced regulatory scrutiny, even while policymakers are stepping up their scrutiny of terrorist financing prevention in the wake of recent attacks.

Despite increased investment and development in the consumer payments space around mag stripe, EMV and contactless payments solutions, there is still a huge concern when it comes to data theft.

Financial institutions considering whether to bank marijuana-related businesses often receive inaccurate information about the emerging industry. Here are five common myths.

The Treasury Department took a step forward Wednesday toward finalizing a highly anticipated customer due diligence rule that is expected to cost financial institutions and their customers between $700 million and $1.5 billion over the next 10 years.

The legal status of marijuana is likely to shift dramatically next year, with around ten states considering some form of decriminalization. But banks will likely have a longer wait until the rules around serving marijuana businesses are cleared up.

Ramamurthi has transformed a 123-year-old institution with one branch serving a dusty Kansas town into a seedbed for disruptive financial technology — not to mention a wildly profitable generator of fee income.

The Consumer Financial Protection Bureau's payday loan proposal threatens many money services businesses on the front lines of stopping money-laundering and terrorist financing.

Credit risk, interest rate risk and cybersecurity concerns pose growing risks to banks in the first half of 2016, according to a semiannual risk report issued Wednesday by the Office of the Comptroller of the Currency.

A startup backed by philanthropist Pierre Omidyar has emerged from stealth mode with technology that promises to provide consistent value and a degree of privacy to electronic money.