Legal issues and news

There is a compelling case for business parties to use smart contract technology in the future to complete binding legal contracts.

U.S. prosecutors are considering a criminal charge against a unit of HSBC Holdings Plc related to conduct on its foreign-exchange desk, according to two people familiar with the matter, imperiling an earlier deal that let the bank avoid prosecution.

The sheer amount of data created in recent years has exploded, leaving banks with a tremendous amount of data sets to mine through. Community banks need to utilize analytics to stay competitive with their big-bank peers.

Some financial companies are leery of betting on an early-stage technology such as artificial intelligence for important jobs like combating account thefts, but PayPal says it works – especially in rooting out false alarms.

A breakdown in internal controls at Bank of Princeton almost killed a deal to sell the company to Investors Bancorp.

Kansas City Federal Reserve Bank President Esther George is best known nationally as a critic of the Fed's monetary policy, but in a wide-ranging interview she talks about Dodd-Frank, bank capitalization and the challenges facing community banking, in addition to interest rates.

WASHINGTON – The Financial Crimes Enforcement Network is proposing to extend anti-money-laundering requirements to a limited number of financial institutions that are not already regulated by a federal agency.

WASHINGTON — The American Bankers Association has fired back at a White House research note that argued the Dodd-Frank Act was not driving community bank consolidation.

Screen scraping is an out-of-date way to share transaction data with mobile apps and services. It's high time for banks to invest in OAuth, a protocol that lets customers access their financial data in a portal of their choosing and is secure.

Sure, there is an inherent business tension between banks' digital offerings and personal financial management software. However, the ground rules for making account data available to consumers for use in external software products and apps are in place and the so-called rivalry is overblown.

The New York State Department of Financial Services has fined Mega International Commercial Bank in Taiwan $180 million in connection with allegations that it violated New York’s anti-money-laundering laws.

Investors Bancorp in Short Hills, N.J., has joined the ranks of banks flagged by regulators for Bank Secrecy Act issues.

The federal government recently began to discourage companies from using SMS-based authentication in their two-factor authentication schemes. So do banks need to completely eliminate authentication via text message? Not entirely.

WASHINGTON — The Dodd-Frank Act of 2010 has not had a negative impact on community banks, contrary to assertions by Republicans and many bankers, according to a group of White House economists.

WASHINGTON — The biggest banks are supporting a bill that would ensure that all U.S. companies submit beneficial ownership information to authorities, arguing it would help combat money laundering and terrorist financing.

With supervisory pressures continuing to mount, a piecemeal approach to handling banks’ regulatory demands is costly and ineffective.

In the wake of the Bitfinex heist, protecting consumers must again be at the forefront of the digital currency community.

Elliptic, a startup that monitors the bitcoin network for suspicious patterns, has introduced anti-money-laundering data into its service through a partnership with LexisNexis Risk Solutions.

In a political season teeming with tension around income inequality, racial economic disparities and animus toward the banking industry, reforming the Community Reinvestment Act seems like it should be a cornerstone of the debate. Yet the law has been almost entirely absent from the discussion. Here's why.

Four years after the first states legalized marijuana, most bankers still want nothing to do with it.