Compliance

Banks won’t be able to remain on sidelines of privacy debate

03/03/19

The data breach at Equifax and Facebook's scandals have made data privacy a big issue to state and federal lawmakers. Here's why banks need to be worried.

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Banks back away from Venezuela; Downside of going cashless

02/27/19

With U.S. sanctions in place against Venezuela, banks fear compliance violations; exclusion and cyber attacks the biggest concerns of cash-free society.

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MUFG ordered to improve anti-money-laundering compliance

02/22/19

The OCC said that branches in New York, Los Angeles and Chicago will be required to take certain corrective actions, but it did not hit the Japanese-owned bank with any financial penalties.

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USAA ordered to improve risk management, information security

02/15/19

The enforcement action from the OCC comes on the heels of a CFPB consent order that said USAA reopened customers' accounts without consent and neglected stop-payment requests.

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Wells names new chief auditor to replace executive placed on leave

02/06/19

A former audit executive at Citi and Amex, Julie Scammahorn is replacing David Julian, who remains on administrative leave. She will join the bank in April.

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From ‘needs to improve’ to ‘outstanding’: One bank's CRA journey

02/06/19

After essentially failing its 2013 CRA exam, BBVA Compass embarked on an ambitious plan to achieve the highest possible CRA grade. Here’s how it succeeded.

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House panel schedules long-awaited hearing on pot banking

02/06/19

The Feb. 13 hearing marks a turning point in long-running efforts in Washington to ease bankers' fears about serving the cannabis industry.

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CFPB fines payday lender Cash Tyme for overcharging customers

02/05/19

The lender collected at least $21,800 that consumers did not owe and harassed borrowers' personal references, according to a CFPB settlement.

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LoanDepot hit with Ginnie Mae sanctions over VA mortgage compliance

01/31/19

Ginnie Mae has restricted loanDepot's ability to securitize Veterans Affairs mortgages because of apparent churning of recent originations.

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Barr eases pot banking concerns, but banks still in limbo

01/18/19

Attorney General-nominee William Barr signaled this week he was not likely to crack down on financial institutions serving pot businesses, but even if he is confirmed and sticks with his assurance, the situation is far from resolved

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