True Office of New York announced Thursday a product development and distribution partnership with Thomas Reuters.
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The design of the forthcoming products, which will center on anti-money laundering, data privacy and Dodd Frank, is meant to help financial institutions better plan, manage and implement compliance training programs and assess risk across their organizations, according to a press release.
BankersLab of San Diego also sells training products that use simulation and
The contract gives the nation's oldest bank access to more than $3 billion in deposits a month. Comerica, the current administrator, has received a three-year extension of service to help with the transfer.
The Federal Reserve issued an enforcement action against the former head of Heartland Tri-State Bank, who embezzled millions of dollars after falling victim to a crypto scam.
Acting Comptroller of the Currency Michael Hsu said that while artificial intelligence is a potentially transformative technology, regulators should be wary of waiving liability for its use in banking.
The embattled crypto bank announced that it will reduce operations and move to preserve capital after losing its banking partner earlier this month.
Amid steady customer growth, USAA's banking arm failed to make the investments necessary to satisfy either its regulators or some decades-long customers. Changes in the executive suite haven't fixed the problems.
The Consumer Financial Protection Bureau has significantly raised the transaction threshold for its larger participant rule — which defines which firms will be affected — from 5 million annual payments to 50 million.
