Compliance

Fincen plans major overhaul of anti-money-laundering rules

09/16/20

The Financial Crimes Enforcement Network is seeking to create a better-defined standard for effective AML compliance programs and is considering whether to impose formal requirements that banks assess their laundering risk.

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NCUA’s Harper warns of possible premiums as Hood teases new department

09/15/20

Two board members for the credit union regulator spoke during a NAFCU event, highlighting liquidity issues, plans for new departments at the agency and more.

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NCUA diversity chief touts agency’s inclusion efforts before Congress

09/08/20

In congressional testimony, the director of the credit union regulator's Office of Minority and Women Inclusion outlined steps the agency is taking to increase diversity at the agency.

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Industry groups call on NCUA to refine virtual examination process

09/03/20

With on-site supervision off the table indefinitely, various credit union trade associations have suggested how NCUA could improve remote exams, including issues related to exam timelines and cybersecurity.

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The fintech Jiko buys a bank

09/03/20

The company has acquired a federal savings association, Mid-Central Federal Savings Bank in Wadena, Minn., which is converting to a national bank.

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How NCUA is working to protect credit union members

08/27/20

A commitment to consumer financial protection "goes hand-in-hand" with the regulator's safety and soundness mission.

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What is Mark McWatters’ legacy at NCUA?

08/25/20

The former chairman of the National Credit Union Administration served at the agency during a crucial time for regulatory reform and credit union growth, though his tenure also had its share of scandals.

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TD Bank will pay $122M to settle CFPB charges of overdraft abuse

08/20/20

The bank has agreed to pay $97 million in customer restitution and a $25 million fine to settle allegations by the Consumer Financial Protection Bureau that it deceptively charged overdraft fees for certain ATM and debit card transactions.

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States sue FDIC over 'rent-a-bank' partnerships

08/20/20

A group of eight Attorneys General filed suit against an FDIC final rule related to ‘rent-a-bank’ partnerships, mirroring a similar suit filed against the Office of the Comptroller of the Currency last month.

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When customers contact Wells Fargo, AI system goes to work

08/19/20

An internally built system called Advanced Listening analyzes phone calls, emails, text messages and more, identifying possible compliance violations, systemic issues and opportunities to improve processes, products and customer service.

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