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The Financial Technology Association — which had been granted the right to defend the Consumer Financial Protection Bureau's open banking rule after the bureau declined to defend it — filed a motion Sunday to preserve the rule.
June 30
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The Santa Anna National Bank in Central Texas is the second bank to fail this year.
June 27
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Texas' SB 1281 introduces harsher penalties — up to life in prison — and targets check fraud as banks report rising financial crimes tied to stolen mail.
June 27
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The Florida man admitted to opening over 100 fake TD Bank accounts in exchange for bribes, leading to $72,000 in fraud losses at the bank.
June 27
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CIBanco SA, Intercam Banco SA and brokerage Vector Casa de Bolsa SA are all "of primary money-laundering concern," FinCEN said. Treasury Secretary Scott Bessent said they are "vital cogs in the fentanyl supply chain."
June 26
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Banking has long been overseen by independent agencies, though that independence has been waning for years. With the Supreme Court poised to weigh in, experts are questioning where — and whether — to redraw the line between politics and policy.
June 26
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Pulaski Savings Bank's failure will cost the FDIC's Deposit Insurance Fund 57.6% of its total assets.
June 25
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Der Spiegel and other European publications say the company continued to serve porn sites and money launderers even after regulators cracked down on it.
June 25
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The ABA's new service adds payee name validation to help banks fight growing fraud risks.
June 25
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A number of fintechs emerged amid the COVID-19 pandemic as a flurry of Paycheck Protection Program loan applications inundated banks. Now, the government is alleging many of them facilitated or committed fraud.
June 24
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New York's attorney general announces MoneyGram will pay a civil fine to settle a lawsuit over its handling of remittance payments; Swedish buy now/pay later lender Klarna is getting into the telecom business; Truist Financial has hired Charles Alston to lead its new nonprofit hospital, higher education and government banking team; and more in this week's banking news roundup.
June 20
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From AI to crypto to the fraud fight, the industry is rapidly evolving; these young companies are looking to take advantage.
June 20
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The scheme used fake bank reps, social engineering and crypto to loot U.S. accounts across borders, according to the agency's Office of Inspector General.
June 18
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The Federal Reserve, Federal Deposit Insurance Corp. and the Office of the Comptroller of the Currency issued a request for information on a range of payments-related fraud trends in order to develop policy solutions to the rising instances of check fraud.
June 16
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Buy now/pay later provider Sezzle has filed a lawsuit against Shopify, alleging that the e-commerce giant engaged in antitrust practices by making it difficult for merchants to integrate Sezzle's BNPL offering into their websites.
June 16
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Opposition is growing to the Trump administration's efforts to roll back fair lending requirements for lenders imposed by Biden-era prosecutors.
June 16
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The fintech and nonprofit join others, including AARP and the ICBA, in working to raise awareness of the financial risks of Alzheimer's and dementia.
June 13
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The Federal Reserve Board banned a former relationship banker in Arkansas after he was caught stealing customer funds; Benchmark Federal Credit Union plans to merge with Franklin Mint Federal Credit Union to form a $2.1 billion-asset institution; Robin Vince, CEO of Bank of New York Mellon since 2022, has been elected chairman of the board; and more in this week's banking news roundup.
June 13
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The House and Senate will need to resolve a slight difference between their versions of the bill before sending it to President Donald Trump for his signature.
June 13
