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The class action is an early test of whether credit unions can hold their vendors liable for the cybersecurity they promise.
July 21
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Two former mid-level employees at the Toronto-based bank received U.S. prison sentences for their roles in funneling nearly half a billion dollars through TD accounts.
July 20
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A Florida ring drilled its check-fraud recruits to dodge bank alerts. An analyst says the fraudsters were guarding the wrong door.
July 20
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Bank7 CEO Tom Travis told analysts the court-ordered auction for a 71% stake in Century Bank should open in August.
July 16
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One of Sweden's biggest banks agreed to the penalty to resolve a multiyear investigation into its compliance failures. The New York State Department of Financial Services said Swedbank intentionally withheld information it was required to turn over.
July 16
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JPMorgan has a habit of taking its former private client advisors to court and accusing them of trying to steal clients they met through bank referrals. An industry recruiter says such suits aren't necessarily a sign of recruiting deals gone bad.
July 16
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The volume of bankruptcy filings has been climbing, particularly among small businesses. But analysts note that the numbers are still below pre-pandemic levels.
July 13
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The Denver-based bank reported that two loans soured, one due to fraud. A number of other lenders reported sizable fraud-related losses last fall.
July 10
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U.S. Bank, Arvest, Old National, BMO and WaFd took the losses in a decade-long scheme the DOJ announced.
July 10
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Brooke Pilant, who was at Ameriprise from 2017 to 2024, accused the firm of turning against her after she raised concerns about "unethical practices."
July 10
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A federal judge has put on hold a plan for mass layoffs at the Consumer Financial Protection Bureau until a new, permanent director is confirmed by the Senate. The judge's order ratifies an agreement on the issue between the CFPB and its union.
July 10
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The Office of the Comptroller of the Currency and Federal Deposit Insurance Corp. encouraged banks to heed Fincen guidance expanding the PATRIOT Act's safe harbor for voluntary information sharing between banks to combat fraud.
July 10
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The Consumer Financial Protection Bureau is preparing to request information from credit-card issuers about their late fees. The renewed interest in late fees is a surprise, given the agency last year sided with the banking industry to kill a Biden-era rule that would have dropped the charges from $32 to $8.
July 9
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A settlement with 46 states resolves allegations that Block's Cash App engaged in deceptive marketing and failed to maintain legally mandated fraud protections. The deal also requires Block to honor an agreement with the Consumer Financial Protection Bureau made in the final days of the Biden administration.
July 8
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The proposal calls for banks to make their compliance programs "risk-based" and pledges to emphasize "systemic" flaws with anti-money-laundering programs rather than "isolated" shortcomings.
July 7
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Oklahoma's Bank7 may acquire New Mexico's Century Bank by the end of the year. The reason: A wealthy Century shareholder is being forced to sell his shares to satisfy a $40 million debt.
July 6
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A tour of the technology that banking has run on, dating back to Franklin's anti-counterfeit measures and the bank-note bulletin that preceded American Banker.
July 3
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The Independent Community Bankers of America is lobbying Congress to require federal credit unions to disclose CEO pay, as most other nonprofit organizations must do. The calls follow the discovery of a massive embezzlement scheme led by the CEO of a Mississippi credit union.
July 2
