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Firing 90% of the Consumer Financial Protection Bureau's staff and stripping it down to "the statutory studs" is lawful, an attorney for the CFPB told an appeals court.
May 16
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Bribed overseas contractors accessed internal systems, triggering a monthslong breach with costs reaching up to $400 million.
May 16
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The crypto trading platform said the hackers bribed contractors or employees outside the U.S. to steal sensitive customer data and then demanded a $20 million ransom.
May 15
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New York Attorney General Letitia James is accusing Capital One of deliberately deceiving customers and obscuring higher interest rates. The lawsuit comes less than three months after the CFPB dropped a similar case against the bank.
May 14
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As banks face mounting check fraud, a newly unsealed indictment reveals how one criminal ring exploited weak spots in the system.
May 14
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The Financial Technology Association will now defend the Consumer Financial Protection Bureau's open banking rule after the Trump administration sided with banks that sued the agency.
May 14
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The Consumer Financial Protection Bureau has dismissed or withdrawn from more than 20 lawsuits as the Trump administration reverses the work done during the Biden era.
May 14
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New regulations implementing the Community Reinvestment Act are likely to run into trouble unless they take into account the priorities of the Trump administration and its efforts to streamline the federal government.
May 12
K.H. Thomas Associates -
Jim Richards, who served as the bank's head of anti-money-laundering compliance, says the Federal Reserve is wrongfully denying him compensation that was designed to keep him employed at Wells Fargo.
May 9
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The man who blew the whistle over the incident says the bank fired him in retaliation for reporting what he called a "significant security breach."
May 9
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Experts warn that stopping modern scams requires more than AI. It takes human oversight, customer engagement and cross-industry collaboration.
May 8
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The industry and its regulators need to acknowledge the danger presented by ultrarealistic deepfake technology and implement new layers of transaction authentication.
May 8
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Julian, the bank's onetime audit chief, recently agreed to settle with the Office of the Comptroller of the Currency for a tiny percentage of the $7 million the agency had been seeking. In an interview, he spoke about the expensive legal fight and who bears responsibility for the bank's fake-accounts scandal.
May 8
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The bank partnered with fraud prevention company Threat Fabric to create a taxonomy the companies hope will make it easier to communicate about fraud.
May 6
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A Credit Suisse unit pleaded guilty to conspiring to help its customers hide more than $4 billion from the Internal Revenue Service in at least 475 offshore accounts.
May 6
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Despite its commitment to change its stress testing program, the Federal Reserve is defending its current practices in court. That argument raises thorny legal questions about whether stress tests are more like rules or adjudications.
May 6
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A federal judge has ordered FDATR, a now-defunct student loan debt relief provider, to pay $43 million in restitution and fees, bucking the trend of cases brought by the Biden administration-era Consumer Financial Protection Bureau being dropped.
May 5
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Paper check use is dropping, but it's still high enough to be a fraud concern for banks. The Trump administration's move to mandate digital could force banks to dump paper once and for all.
May 5
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The Consumer Financial Protection Bureau sided with two trade groups in asking a federal court to vacate the medical debt rule. Consumer groups have asked to intervene and a judge has not yet ruled on the motion.
May 1
