Compliance

House Dems urge CFPB’s Kraninger to commit to military lending exams

12/14/18

Former CFPB chief Mick Mulvaney had claimed the agency could not supervise firms for Military Lending Act compliance, but lawmakers want his successor to go in a different direction.

[more]

Robinhood's checking account poses legal issues: SIPC chief

12/14/18

The fintech Robinhood did not contact the Securities Investor Protection Corp. to discuss protection for deposits, according to SIPC CEO Stephen Harbeck.

[more]

Heat's rising on Deutsche Bank; foreign banks get tax relief

12/14/18

Two U.S. senators demand an investigation into the German bank over security, criminal risks; the Treasury has proposed rules to help foreign banks deal with last year’s tax law.

[more]

A challenge too good to pass up put Simone Lagomarsino back in the C-suite

12/10/18

The former head of Heritage Oaks Bancorp says she relishes a chance to reinvent Luther Burbank, a thrift that wants to make more commercial loans — a shift she has deftly orchestrated before.

[more]

NCUA lays out legal defense of contentious membership rule

12/07/18

The regulator claimed Congress has already granted it the authority to define field-of-membership areas.

[more]

FDIC clears path for North Carolina de novo bank

12/06/18

Organizers of Community Bank of the Carolinas still need to raise $25 million and secure approval from the state's banking commissioner.

[more]

Is regulators' green light on AML tech a game changer?

12/05/18

Bank and credit union regulators issued a statement giving institutions the go-ahead to try artificial intelligence and other emerging tech to detect money laundering. It's just what some institutions have been waiting for.

[more]

Time to clean house at Wells Fargo

11/20/18

The megabank’s continued compliance problems suggest that all of its board members, along with 100 of its most senior managers, should be replaced to make way for real change.

[more]

Payday lender's emails tell a different story on Choke Point

11/12/18

Top executives at Advance America acknowledged that anti-money-laundering concerns at banks were likely the cause of account terminations, even as they publicly blamed a stealth regulatory campaign.

[more]

Fintechs to law enforcement: Let’s be partners, not adversaries

11/09/18

A new group aims to foster collaboration between fintechs and state and federal officials in the fight against crime — without hindering legitimate business innovation.

[more]