News Topic: Compliance

Deutsche Bank confirmed that it has tax returns requested by U.S. lawmakers seeking financial information for President Donald Trump and his family. Whose returns are those? That's still a secret. ... Read full article

After two regulatory agencies adopted final revisions to the rule, Dodd-Frank defenders expressed concern that the amendments to the proprietary trading ban undermined the post-crisis statute. ... Read full article

The Financial Action Task Force’s recent guidance on data privacy regulations should serve as a warning to companies planning to test virtual currencies. ... Read full article

The Federal Housing Administration updated its lender certification proposal originally issued this past May, as it looks to ease industry concerns on False Claims Act enforcement. ... Read full article

The Federal Reserve's monetary policies have exacerbated the wealth gap, making the central bank a vulnerable target for Trump. He’s taking full advantage. ... Read full article

The San Francisco bank is moving two executives into new positions who will report to consumer banking head Mary Mack. ... Read full article

The Department of Housing and Urban Development approved a settlement in favor of the California Reinvestment Coalition against CIT Group's OneWest Bank, which was run by Steven Mnuchin prior to him becoming Treasury secretary. ... Read full article

Banks submit millions of Bank Secrecy Act filings each year, yet only a fraction are valuable to law enforcement. Inside the effort to change that. ... Read full article

Regulators should proceed with removing one of the margin requirements for trading swaps. ... Read full article

Most agencies use electronic benefit transfer to deliver funds to prepaid cards, but recipients who need access to cash are often caught in a bind, with fewer convenient or free ATMs available in an increasingly digital payments landscape. ... Read full article

Smart rulemaking starts with consolidating multiple agencies into one body with a clear mandate. ... Read full article

The timing of the settlement serves as a warning to other companies of the risks they face in an increasingly data-focused economy. ... Read full article

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. ... Read full article

As Congress and the SEC were taking steps to regulate alternative currencies, they required a deep knowledge of the cryptocurrency market and technologies. For those who put off their crypto education, Facebook's Libra is a wake-up call. ... Read full article

The Gramm-Leach-Bliley Act is a successful privacy law that ought to govern all financial services providers, not just banks. ... Read full article

A bill to regulate firms that give workers early access to unpaid wages passed a key committee this week, but industry groups and advocates are still seeking changes. ... Read full article

The CFPB asked whether 10-year-old consumer protections against overdrafts are onerous or unfair, especially to smaller financial institutions, but banking industry officials largely said any changes could invite new problems. ... Read full article

The CFPB did not file any fair-lending enforcement actions in the 2018 fiscal year and did not refer any Equal Credit Opportunity Act violations to the Department of Justice. ... Read full article