Risk

Wells may have settled with former employee Claudia Ponce de Leon because it wanted to avoid the "massive exposure" of a jury trial, an expert says. It is unclear how the agreement will affect Wells’ other cases.

Attorney General Jeff Sessions did not keep the rest of Washington apprised of his plan to rescind an Obama-era memo on pot. Now Fincen and other federal banking agencies are dealing with the backlash from that decision.

Breaches help crooks diversify, but stolen cards thrive in the black market, writes Angel Grant, director at RSA's fraud and risk intelligence unit.

The San Francisco bank said that Michael Loughlin's departure is unrelated to the sales scandal that has dogged the company for the last 16 months.

To date, the vast majority of security investment has focused firmly on keeping the bad guys out. It only ever works to a certain extent. This is because there is much greater impetus for the hackers to devise new methodologies to gain access and the security industry at large is only ever playing catch up, writes James Barham, chief commercial officer at PCI Pal.

The disclosure of a key part of Wells Fargo's exam rating is fueling speculation that further regulatory action may soon be taken against the megabank and raising renewed questions about its regulator's oversight.

While the intermediaries that record and verify transactions such as payments are removed, the remaining parties may not be ready for shifting responsibilities to guarantee transactions, writes Sebastian Venderzeil, a director at Cornerstone.

The final plan to end "too big to fail" suggests that banks with less than $10 billion be subject to a much less complicated risk-based capital regime, akin to what was required in Basel I.

The McLean, Va., company said that the personnel moves were unrelated to either its financial performance or its risk performance.

Examiners focus too much on how many suspicious activity reports banks file and too little on the true riskiness of their activities, according to lawmakers and industry representatives.

With their millions of customers, large retailers like Forever 21 have typically been the hardest hit, writes Mark Cline, a vice president at Netsurion.

The proposal lays out principles in three critical areas: the effectiveness of senior management, handling of the firm’s business line and the independent risk management structures within a banking organization.

After a six-month transition period, Mark Midkiff will succeed Bill Hartmann later this year.

The Office of the Comptroller of the Currency said Tuesday that Norman Williams will oversee the three research and analysis divisions that assess financial and economic risks to banks.

Fannie Mae's serious delinquency rate climbed to a high not seen since March 2017, but remained lower than it was 12 months prior.

Credit union examiners will be focused on cybersecurity, BSA compliance, fraud prevention and more.

Banks reported $6.4 billion in trading revenue in the third quarter, down 3.6% from the previous quarter, on falling interest rate and foreign exchange revenue, the Office of the Comptroller of the Currency said.

Maria Zuber, who oversees research administration and policy at MIT, has been appointed to the board's enterprise risk and corporate governance committees.

The House Financial Services Committee passed 13 bills (and scrapped a vote on one) Wednesday, including one that would stop Fannie Mae and Freddie Mac from being released by the government and another hailed as helping the underbanked in rural areas.

The central bank should take new steps to ensure that examiners do not become too cozy with the big banks they supervise, a government watchdog said.