News Topic: Compliance

The fast-growing buy now/pay later industry is drawing scrutiny from legislators and regulators who fear it could become predatory. ... Read full article

Citigroup will reduce bonuses for dozens of its top executives after the bank was reprimanded by regulators last year. ... Read full article

The 46th president's agenda for financial regulation is already moving ahead, based on the people he's chosen to put in key roles. ... Read full article

The agency used a notation vote to advance the final measure, the third time it has used that method in a month. ... Read full article

Cybersecurity remains a priority along with CARES Act compliance, flexibility for borrowers impacted by the pandemic and more. ... Read full article

In placing the $6.6 million-asset institution in conservatorship, the regulator has taken charge of two credit unions in just the first two weeks of the year. ... Read full article

Some companies cut off the flow of cash to insurrectionists, while others put a halt to their political spending. Their actions came quickly after the events of Jan. 6. ... Read full article

In a party-line vote, the agency issued a proposal that would redefine a "complex" credit union. ... Read full article

After calling off its bid to buy the data aggregator Plaid, the card network is shifting its focus back to its role as an enabler of digital payments and related services. ... Read full article

A Democratic majority in Washington may help advance a number of key legislative issues for the industry, such as passage of a national data security standard. However, it could also lead to a renewed focus on consumer protection laws. ... Read full article

Visa and Plaid have terminated their tie-up and reached an agreement with the Department of Justice to dismiss the litigation brought against them when the deal raised antitrust questions. ... Read full article

PayPal Holdings closed an account held by Joy In Liberty, one of the groups that paid for supporters of President Donald Trump to travel to Washington, where mobs stormed the U.S. Capitol on Wednesday. ... Read full article

American Express is reportedly under investigation by top federal agencies exploring allegations of unethical sales tactics by the company’s small-business credit card sales representatives. ... Read full article

While some legislatures have extended provisions temporarily allowing online notaries, other lawmakers are pushing for those rules to be made permanent. ... Read full article

CO Federal Credit Union, which has $4.5 million in assets and serves just 785 members, was conserved due to unsafe and unsound practices, the regulator said. ... Read full article

The Office of the Comptroller of the Currency terminated a 2015 consent order that required the bank to improve its controls for combating money laundering. ... Read full article

The panel unanimously approved the measure by a notation vote, its second such move in weeks, and the proposal will now be subject to a comment period. ... Read full article

The National Credit Union Administration juggled several challenges this year beyond the pandemic recession, including an inspector general's report about alleged misconduct by two former employees and criticism that board members had lost their old ... Read full article