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The high court's much-anticipated ruling gives federal courts — rather than executive agencies — the power to interpret ambiguous statutes. The decision is expected to facilitate an increase in litigation over banking regulations.
June 28
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The Treasury Department's Financial Crimes Enforcement Network issued a proposal mandating banks enhance their anti-money-laundering and counterterrorism financing programs, including measures to address fentanyl trafficking and Russian money laundering.
June 28
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A landmark ruling by the Supreme Court's conservative majority means that defendants will have the right to a jury trial in cases where bank regulators are seeking civil penalties. The consequences for federal banking agencies are expected to be substantial.
June 27
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Banks and financial institutions face a barrage of lawsuits from consumers alleging they failed to investigate inaccurate information on a credit report. Industry blames the uptick in litigation on social media sites and the proliferation of credit repair companies.
June 26
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Investors are keeping a close eye on recent banking news, including Mastercard's latest plan for crypto, Comerica's proposed settlement of a class action, employment gains and skeptical shareholders.
June 25
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Harris's leadership at Sentilink to help stop fraud at account opening has made him one of American Banker's 2024 Innovators of the Year.
June 21
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Ross helped build your favorite company's favorite risk management solution — Fraud.net.
June 21
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The co-funder and CEO of Minerva, a regulation technology platform, is one of American Banker's 2024 Most Influential Women in Fintech.
June 21
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The CEO, owner and founder of Chargebacks911 is one of American Banker's 2024 Most Influential Women in Fintech.
June 21
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Why banks believe fraud prevention and customer experience are both top priorities
June 21
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A federal judge granted a preliminary injunction sought by industry groups that sued to block a Colorado law. The law, which would cap interest rates on consumer loans, targets partnerships between fintechs and out-of-state banks.
June 20
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In a win for credit card issuers, a lawsuit challenging the Consumer Financial Protection Bureau's $8 credit card late fee rule will remain in a Texas court and not be transferred to Washington, D.C.
June 20
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The high court will determine how much deference judges should give to regulators in interpreting laws passed by Congress. The upcoming ruling has especially big implications for the Consumer Financial Protection Bureau, which has drawn the banking industry's ire.
June 18
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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
