News Topic: Compliance

The U.S. is taking steps to stamp out the practice of servicemembers and veterans being pressured into taking mortgages they don't need, a move that officials say will lower consumer costs and could lead to financial penalties for lenders. ... Read full article

U.S. and European banks are spending a total of as much as $20 billion a year on technology to enable fixed-income dealers to comply with new regulations such as MiFID II, according to a report. ... Read full article

Mick Mulvaney, President Trump’s Office of Management and Budget director, is being considered for interim director of the consumer watchdog after Richard Cordray steps down and until a permanent pick is confirmed. ... Read full article

Fintechs should learn to value risk management — and the necessary bureaucracy that comes with it, bankers said this week in defending themselves again criticism that they are a pain in the neck to work with. ... Read full article

For community bankers, the current environment is more challenging than ever, with high regulatory burden and tough competition. Four bank CEOs sat down to discuss the future of the industry, and what they are hoping may change. ... Read full article

The CFPB's practice of "regulation by enforcement" forces mortgage companies to develop compliance standards based on the mistakes of their peers, rather than clear guidance from the enforcement agency, said David Motley, the new chairman of ... Read full article

There's never an easy time to change leaders, but for American Express it's a particularly challenging time as it faces legal challenges to a core part of its fee structure and is still revamping its business model after a stinging client loss. ... Read full article

The Tupelo, Miss., company has recouped its “satisfactory” community reinvestment rating, removing a regulatory obstacle to two pending acquisitions. ... Read full article

It's a question many banks are already confronting head-on as they implement new technologies designed to make compliance easier. ... Read full article

George Sutton, now an attorney in Salt Lake City, will sit on several Glacier Bancorp committees, including audit and compliance. ... Read full article

Banks that find true innovation hard to accomplish can take heart — it’s no picnic for startups either. To hear both sides share their challenges is an argument for collaboration. ... Read full article

Ocwen Financial reached a settlement with 10 states where it can't acquire servicing rights for eight months but it will not face any financial penalties. ... Read full article

As Equifax sheds its top execs, more experts are casting attention on the business practice of charging consumers for monitoring their personal data at bureaus that otherwise give them little control over their financial identities. ... Read full article

Out-of-control email chains, long meetings, haphazard approaches — that was project "management" at Exchange Bank in California. It took five years, but those things have changed. ... Read full article

As Huntington's chief regulatory liaison, Helga Houston deserves much of the credit for the fact that the Fed approved the FirstMerit acquisition in just 185 days. ... Read full article

Ellen Patterson is one of just 21 TD employees with an EVP title globally and the only female EVP based in the United States. ... Read full article

It's not just big banks. Even U.S. community banks may be subject to the General Data Protection Regulation given the boundlessness of digital commerce. ... Read full article

The Upstart Network's CEO, Dave Girouard, explains how the online lender worked with a normally aggressive federal regulator to balance the needs for innovation and consumer protection. ... Read full article