Risk

Compliance officers should demand better means to quickly gather, organize, and view data regarding accounts and transactions that may be partaking in financial crime, argues Elsa Chan, head of Americas for ComplyAdvantage.

The battle lines drawn over federal efforts to restrict bank relationships with politically risky industries used to be clear cut. Not anymore.

Some contracts are not "adequately" defining which party — the bank or the vendor — is responsible for managing risks, the agency said.

Current rules developed in the early 1990s were driven more by politics than facts.

In the emerging ecosystem economy, merchants will need to provide a seamless buying journey for customers. That means everything from a dynamic user interface and smart authentication to contactless payment options for faster transaction times, writes Paul Perry, a contributor for the technology company Relay.

The Federal Housing Finance Agency is planning on finalizing its proposed capital requirements for the government-sponsored enterprises this summer, the agency's acting director said Wednesday.

More attention should be paid to strategically preventing and mitigating problems that harm bank reputations.

Users don’t have all the tools they need to ensure the security of their mobile devices, so it’s all the more important for providers of mobile financial services to help users by hardening mobile apps with technology, writes Samuel Bakken, senior product manager at OneSpan.

Letters to eight bank CEOs from the Idaho senator were a rebuttal to calls by some Democrats for financial institutions to cut ties with firearms manufacturers, prison companies and others.

Before we can advertise the security benefits of digital wallets, we have to address their vulnerabilities, writes Jared McClure, co-founder and COO of CrayPay.

The bill by Sens. Kevin Cramer, R-N.D., and John Kennedy, R-La., would block banks and credit unions with over $10 billion of assets from refusing service to "customers that may not share the same political values."

However, before we put all of our eggs in the blockchain basket, we need to examine whether the technology is ready to protect merchants from chargebacks and fraud, contends Suresh Dakshina, president of Chargeback Gurus.

U.S. banks accounted for nearly 40% of the financing worldwide to such firms, according to a report by Rainforest Action Network.

Speaking at a press conference, Federal Reserve Chairman Jerome Powell said the bank’s risk management failures have required a dramatic overhaul of its processes.

Even as regulations are getting tougher, criminals are getting more sophisticated and creative, writes Ron Teicher, CEO of EverCompliant.

The bank was fined $25 million for what the Office of the Comptroller of the Currency said was an inability to provide the discounts to all who were eligible.

The Federal Housing Administration is returning to manual reviews of higher-risk loans it insures because it's finding that a growing share have lower credit scores, higher debt-to-income ratios, or both.

Federal regulators normally hesitate even to name specific institutions, but the Office of the Comptroller of the Currency appears to be taking a different tack with Wells.

With regulators and policymakers studying their every move, financial institutions need to put more focus on preventing mistakes in the first place.