Compliance

How NCUA is working to protect credit union members

08/27/20

A commitment to consumer financial protection "goes hand-in-hand" with the regulator's safety and soundness mission.

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What is Mark McWatters’ legacy at NCUA?

08/25/20

The former chairman of the National Credit Union Administration served at the agency during a crucial time for regulatory reform and credit union growth, though his tenure also had its share of scandals.

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TD Bank will pay $122M to settle CFPB charges of overdraft abuse

08/20/20

The bank has agreed to pay $97 million in customer restitution and a $25 million fine to settle allegations by the Consumer Financial Protection Bureau that it deceptively charged overdraft fees for certain ATM and debit card transactions.

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States sue FDIC over 'rent-a-bank' partnerships

08/20/20

A group of eight Attorneys General filed suit against an FDIC final rule related to ‘rent-a-bank’ partnerships, mirroring a similar suit filed against the Office of the Comptroller of the Currency last month.

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When customers contact Wells Fargo, AI system goes to work

08/19/20

An internally built system called Advanced Listening analyzes phone calls, emails, text messages and more, identifying possible compliance violations, systemic issues and opportunities to improve processes, products and customer service.

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Wells Fargo chief compliance officer is leaving: Report

08/13/20

The executive shuffle at the company continues as Chief Compliance Officer Mike Roemer quits and Credit Suisse America’s Paula Dominick is hired, according to a Financial Times report.

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Regulators issue guidance on AML enforcement actions

08/13/20

The federal banking agencies clarified that minor violations of Bank Secrecy Act rules will typically not result in a cease-and-desist order.

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Latest NCUA board nominee clears Senate Banking Committee

08/05/20

Kyle Hauptman is not likely to be confirmed to the National Credit Union Administration board until after Labor Day, though the regulator is not scheduled to meet again until mid-September.

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De novo started by gamblers rolls dice on banking them

07/30/20

Lexicon Bank in Las Vegas, whose chairman was a professional gambler, is actively courting poker players to open deposit accounts for their tournament winnings.

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Lenders shouldn't waver on monitoring early payment defaults

07/30/20

The key word is "temporary" with the FHA's quality control waiver expiring and not likely to be renewed.

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