News Topic: Compliance

In the eyes of regulators, Facebook and bitcoin have a lot in common. Both challenge citizens' relationship to privacy, and both use technology in ways that current laws were unprepared for. ... Read full article

Facebook is focusing the initial discussions around its cryptocurrency project as a preemptive strike against the privacy and legal concerns the public and politicians have about the huge social network. ... Read full article

Santander Bank and Santander Consumer USA have put many problems behind them in recent years under CEO Scott Powell, but he still has a Federal Reserve enforcement action to resolve and is negotiating with Fiat Chrysler to preserve a crucial auto lending ... Read full article

Its CEO says organic growth is preferable, but after spending five years tackling a series of enforcement actions tied to BSA compliance, the Pennsylvania bank has options. ... Read full article

In stark contrast to his predecessor, C. Allen Parker said Thursday he accepts regulators' criticism and suggested that the bank may struggle to achieve revenue growth until it moves past its regulatory woes. ... Read full article

Wells Fargo creates unit to satisfy regulatory demands; U.S. Bank employee fired after blowing whistle on sales scheme, lawsuit says; what BBVA's new U.S. CEO has on tap; and more from this week’s most-read stories. ... Read full article

Democratic presidential candidate Bernie Sanders and Rep. Alexandria Ocasio-Cortez accused banks of acting as “modern-day loan sharks” and called on Congress to enact a federal limit of 15% on credit card interest rates. ... Read full article

It is designed exclusively to address concerns of regulators who have complained about the bank's lack of progress in recovering from a series of scandals. ... Read full article

A proposal to give the Consumer Financial Protection Bureau jurisdiction over credit unions with $10 billion or more of assets has sparked a war of words between the longtime foes. ... Read full article

The California company was issued a consent order after it failed to meet the conditions of a January 2018 informal agreement. ... Read full article

Wells Fargo & Co. said it expects to refund certain fees paid on debit-card accounts as it reviews disclosures that may have confused customers. ... Read full article

The announcement comes after several news reports that Stephen Moore would not back down from his anticipated nomination to serve on the Fed despite growing concerns from Republican senators. ... Read full article

The Department of Financial Services has created a statewide financial protection division focused on corporate compliance and consumer issues, in line with steps taken by New Jersey and Pennsylvania. ... Read full article

Director Kathy Kraninger said the agency will emphasize a confidential supervisory process instead of just doling out public enforcement actions. But skeptics worry this will let companies escape punishment. ... Read full article

The debt collection proposal is expected to address how debt collectors can use text messages and emails to track down debtors. ... Read full article

Visa Inc. and Mastercard Inc. ended nearly two decades of European Union antitrust scrutiny with a pact that requires them to reduce fees for foreigners shopping in the region. ... Read full article

"If you gathered the U.S.-based senior counsels of the major Chinese banks operating in the United States," said Joseph Loffredo, assistant general manager and chief financial officer at the New York branch of China Merchants Bank, ... Read full article

Rachel Bryant specializes in risk management, and she applies that framework not only to her job duties, but also to her career path. ... Read full article