The card activation process is relatively low-tech, but since its introduction nearly three decades ago it has been hugely effective in preventing credit cards from falling into the wrong hands. Among its pioneers was Ash Gupta, American Express’s president of global credit risk, who is retiring next month.
U.S. Bank's $600 million fine for AML lapses quickly drew readers attention, while acting CFPB Director Mick Mulvaney got the Cordray treatment on Capitol Hill and big banks made moves to speed real-time payments.
Just two months after a capital infusion, First Capital Bancshares added banking veterans including John McCoy and Harvey Glick as directors in a board overhaul, changed CEOs, and decided to move its corporate headquarters to Charleston, S.C.
A sophisticated campaign by Russian actors seeking to manipulate the 2016 U.S. presidential election through social media included stealing the identities of Americans and using accounts at PayPal to aid their effort.
The finance sector had the highest number of breaches of all industries, with 471 in 2016, according to a report issued Friday by the White House's Council of Economic Advisers.
The House Financial Services Committee chairman is calling out Fannie Mae and Freddie Mac's regulator for authorizing payments to two housing trust funds while the mortgage giants have their own financial struggles.
