News Topic: Compliance

Scott Powell, who resolved numerous regulatory problems as the head of the Spanish bank's U.S. operations, will face similar challenges at scandal-plagued Wells. As the bank's chief operating officer, Powell will report to CEO Charles Scharf, a ... Read full article

The fintech firm, which had made prior attempts to offer a federally insured consumer account product, said it has “no plans at this time” to become a bank. ... Read full article

The Bank of England fined Citi $57 million for failing to properly report capital and liquidity levels at its European investment bank and other global operations. ... Read full article

Lenders contend the proposal goes beyond policing third-party debt collectors and could expose banks to enforcement actions and lawsuits. ... Read full article

A new National Credit Union Administration proposal would raise the threshold for residential mortgages that require appraisals. However, the final rule is by no means a done deal. ... Read full article

The charter may provide greater confidence for digital currency investors; bank expects to make large-scale job cuts in its global banking and markets unit. ... Read full article

Service would help with compliance; JPM CEO sees more short-term lending rate spikes if no long-term solution implemented. ... Read full article

The case — the card issuer's third in six years — is an example of the legal peril that banks and other companies continue to face over the use of automated phone calls for debt collection and other purposes. ... Read full article

The National Credit Union Administration board member is requesting comment on a proposal to create new consumer compliance measures for "large, complex credit unions." ... Read full article

Mastercard is aggressively building a business payments ecosystem as it keeps an eye on political headwinds it has little control over. ... Read full article

The National Credit Union Administration has unveiled a proposal to address a federal judge's concerns that its 2016 field-of-membership overhaul could discourage lending in low-income areas. ... Read full article

The chairman acknowledged the timetable is "ambitious." ... Read full article

New tech can help banks with less cumbersome systems track suspicious activity more effectively. ... Read full article

In a move to tap into an underserved market opportunity — but with the potential for political backlash — Sallie Mae launched three different cash-back reward credit cards aimed at college students and young adults. ... Read full article

The court passed up a recent opportunity to clarify confusion about Americans with Disabilities Act requirements for business websites, raising concerns among bankers that they could become an even more inviting litigation target. ... Read full article

Readers react to a regulator's promise to reduce regulation that hinders innovation, Sen. Elizabeth Warren's plan to impose heavier taxes on lobby groups, Freddie Mac's exploration into AI and more. ... Read full article

Officials said Thursday that they will not take regulatory action against state-chartered banks and credit unions solely for serving licensed cannabis businesses. ... Read full article

Banks need to understand that examiners' job is to call it like they see it. ... Read full article