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Payday lenders want an appeals court to rehear a novel claim about the Consumer Financial Protection Bureau's funding despite a Supreme Court ruling last month that upheld the agency's funding as constitutional.
June 17
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Machine learning has a firm place in banks' fraud and scam detection work. But some are also experimenting with using generative AI to research and handle claims.
June 11
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Comerica Bank has agreed to a proposed settlement of fraud claims after denying refunds to Direct Express beneficiaries who alleged money was stolen from their prepaid accounts. In the past month, beneficiaries have been sent postcards announcing the settlement.
June 7
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A Minnesota trade group and its co-plaintiff, Lake Central Bank, signaled that they plan to appeal a district court's dismissal of their lawsuit against the FDIC. The case involves the agency's guidance on nonsufficient funds fees.
June 6
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For a country that relies on the energy and drive of immigrants to the extent that the U.S. does, it's surprisingly hard for them to get bank accounts. It's time to reassess what we mean by money-laundering risks.
June 5
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The National Rifle Association bagged a key victory in a case against a former top New York state official. The high court's ruling could make it harder for regulators to discourage financial institutions from doing business with specific industries.
June 3
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In this month's roundup of top tech news: A firsthand look at the impact of Zelle fraud, the Supreme Court upholds the Consumer Financial Protection Bureau's funding, Walmart's split from Capital One and more.
June 3
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In this month's roundup of top banking news: a Supreme Court ruling on CFPB funding, TD Bank's money laundering woes, an FDIC workplace probe reveals a culture of misconduct and more.
June 3
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Shan Hanes, who led Heartland Tri-State Bank in Kansas until it failed last year, pleaded guilty to one count of embezzlement by a bank officer. He now faces up to 30 years in prison. He is scheduled to be sentenced on Aug. 8.
May 30
