News Topic: Compliance

With the state only months away from allowing the sale of pot for recreational use, its top cannabis regulator is urging policymakers to consider creating a public bank to provide services to growers and dispensaries that might otherwise have nowhere else ... Read full article

The subprime auto lender paid $2.9 million to Connecticut consumers and a $100,000 fine for miscalculating balances owed on repossessed cars and for charging improper fees. It says the settlement is part of an effort to clean up "legacy issues." ... Read full article

Women who work at Mastercard Inc. earn 99.1 cents for every dollar men make for “equal performance at the same level,” according to a report the company released Monday. ... Read full article

Budget proposal would slice agency’s spending while limiting its enforcement activities; the bank could lose its U.K. banking license if it fails to refute fraud charges. ... Read full article

Andrew Sandler, who is also CEO of Treliant, co-founded Buckley Sandler in 2009. He will step down from the firm in March. ... Read full article

Delaying the rule's effective date or refocusing it on disclosure requirements are among the options for the Consumer Financial Protection Bureau's acting director to ease its impact on the industry. ... Read full article

The one-notch downgrade, announced Wednesday, came in response to the Fed's unprecedented decision to halt asset growth at the embattled bank. ... Read full article

The Federal Reserve voted unanimously Friday to impose an unprecedented enforcement action against Wells Fargo in response to its cross-selling scandal, restricting the bank’s future growth and removing four members of its board of directors. ... Read full article

Wells has tapped Sarah Dahlgren for a newly created position overseeing regulatory relations as the megabank tries try to remove the cloud of its phony-accounts scandal. ... Read full article

Mick Mulvaney’s unapologetic memo to staff about the Consumer Financial Protection Bureau’s mission headlined a spate of developments this past week as he continues to transform the agency. Here are the key developments. ... Read full article

The candidates being discussed lately to run the agency bring experience on consumer protection issues, and potential bipartisan appeal. ... Read full article

Most general counsels are men, but in 2017 women filled more than half of the top legal positions that opened up at large financial firms. The trend is likely to continue as the population of women lawyers swells and banks continue to diversify their ... Read full article

Acting Consumer Financial Protection Bureau Director Mick Mulvaney has cited hundreds of confirmed and suspected data breaches as justification for his halting the bureau's data collection activities last month. ... Read full article

Wells Fargo joins the list of banks recently hobbled by tech outages. Is there a better response than "Sorry for the inconvenience"? ... Read full article

Comptroller of the Currency Joseph Otting blasted a letter from Senate Democrats criticizing his agency for not implementing recommendations on supervision in the wake of the Wells Fargo scandal. ... Read full article

The Office of the Comptroller of the Currency’s semiannual report on industry risk said tougher competition between banks, leading to looser underwriting, could arise from the economic expansion. ... Read full article

If anyone has doubted that acting Consumer Financial Protection Bureau Director Mick Mulvaney intends to overhaul the agency, the last three days alone have put those doubts to rest. ... Read full article

HSBC has agreed to pay $100 million in penalties to resolve a Justice Department investigation into the rigging of currency rates, according to a person familiar with the matter. ... Read full article