Legal issues and news

The time banks have to investigate red-flagged credit payments has shrunk from several days to a few hours and fraudsters have already taken notice.

Banks have used biometrics for about a decade, but there are a number of hurdles that banks, device makers and customers need to overcome before passwords are history.

Fraud involving third parties and advance fees can be vexing for merchants. But doing lots of homework can mitigate the threat.

At a time when individual accountability at corporations is mounting, here is how compliance officers can detect and prevent fraud occurrences within their own firms.

The decision to rewrite the regulation came two days after a hearing in which New York bankers unleashed a litany of complaints about the regulation to Empire State lawmakers.

Scandal, business models gone awry, missing money and executive shake-ups — 2016 had it all. Here are the financial services executives or groups of them who took the heat and will be looking for better times in 2017.

The scourge of account takeover isn't lost on Citizens Union Bank, which is involving its business customers — or rather, their biometric traits — in improving the security of their accounts.

Ameris Bancorp in Georgia wanted to buy a premium-finance business but settled for a joint venture, blessed by its regulators, after being flagged for insufficient Bank Secrecy Act compliance.

Following the passage of the November ballot initiative, it is hugely important that cannabis businesses in the nation's largest state be able to secure bank accounts, at a minimum.

The chip card migration is drawing more attention to card not present fraud. Account takeover risk is also on the rise.

WASHINGTON — Senate lawmakers are putting pressure on the Treasury Department's financial crimes unit to clarify to banks that businesses hired by marijuana growers and dispensers should not be treated like pot firms themselves.

As online shopping and card fraud increase, startups offering easy-to-use "burner" cards could see strong traction.

The core-tech vendor Fiserv has agreed to buy Online Banking Solutions in Atlanta.

Federal banking regulators are dismissing claims that they are pressuring banks to cut ties with payday lenders, arguing that the lenders' recent request for a court order against the agencies rests on erroneous speculation and bad legal arguments.

Despite gains for the legalization effort in the November election, the disconnect between federal and state law preserves uncertainty for banks catering to pot businesses.

When BankMobile, the brainchild of Jay Sidhu and his daughter Luvleen, relaunches on a new platform in January, security — especially for the onboarding process — will be completely redesigned.

A Republican president and GOP-controlled Congress have the opportunity to disentangle the current regulatory web that leads to overlapping jurisdiction and duplicative rules.

President-elect Trump faces legal questions over his idea to hold remittances ransom to fund a wall in Mexico, but the industry should take the threat seriously.

Despite a robust anti-money-laundering regime imposed on banks and money services businesses in the U.S., a number of loopholes are allowing other companies to skate by without performing basic due diligence to curb the flow of illicit funds, according to a report by the Financial Action Task Force.

The U.S. is expected to receive bad marks over its supervision of certain high-risk nonfinancial institutions, like lawyers, casinos and real estate agents, for potential anti-money-laundering problems in an upcoming evaluation by the Financial Action Task Force.