Risk

Rachel Pross, chief risk officer at Maps Credit Union, told the Senate Banking Committee the inability for more banks and CUs to safely serve the legal pot industry is having an effect on ancillary businesses.

New regs force financial institutions to go deeper to stop laundering, but the prize is easier overall enrollment, says NTT Data Services' Edmund Tribue.

The bank has been slashing expenses, but executives acknowledged they remain high. Between having to hire thousands of compliance employees and waiting on the next CEO to be named, investments in new technology or other long-term growth are limited.

From data rights to common security measures, organizations that provide clarity on how companies handle financial data and access can pave the way to more fruitful relationships, writes Steve Smith, chairman, CEO and co-founder of Fincity.

The technology provides convenience and is growing fast, but is prone to card-not-present fraud, says Monica Eaton-Cardone, COO of Chargebacks 911 and CIO of its parent company Global Risk Technologies.

Once a dataset’s data and lifecycle events are in a known state with lineage, new and exciting opportunities are possible, writes David Levine, head of data product strategy for PeerNova.

Fraud targeting accounts payable departments had been on the rise to begin with, but a new sense of urgency has taken hold in the wake of a recent incident that cost Facebook and Google $100 million.

A handful of institutions in the last year have rolled out loan programs targeting members of the military and first responders, but there could be risks associated with these mortgages if the economy takes a nosedive.

Credit unions can reduce concentration risk and free up funding for new loans though participations but many institutions are hesitant about the process.

Only one CU in West Virginia wants to enter the pot banking space, but they're going against the grain not just of the state's credit union league but an industry where fewer than 1% of institutions are serving that market.

Security companies report a recent spike in spearphishing campaigns originating in Iran and targeting banks.

A large portion of business expensing, particularly travel and entertainment, takes place well outside of the office, making it tough for decision-makers to monitor, according to Yash Madhusudan, Co-Founder and CEO of Fyle.

Banks may be exposed to a shakeout in the $1.3 trillion leveraged-loan market even though they mostly own the safest portions of debt, according to the Bank for International Settlements.

From regulatory reform to natural disasters and more, here's a look at Credit Union Journal's special report on what to expect for the second half of the year.

Visa has signed a definitive agreement to acquire the Los Angeles-based chargeback and dispute resolution platform provider Verifi.

Lending to companies with heavy debt loads is a growing business — one that many fear could lead to the next financial crisis.

A recent proposal by the Financial Stability Oversight Council to focus less on certain nonbank firms and more on risk activities would create unintended economic harm.

The Ohio Democrat praised Todd Harper, one of the regulator's newest board members, for his attempt to shift the agency's focus toward issues such as concentration risk.

As the Federal Credit Union Act turns 85, industry figures are working on issues related to executive compensation, UDAAP and more, all while girding for a slowdown in membership and loan growth.

Compliance can be complex and expensive, but failure puts merchants at risk, says FIME's Christian Damour.