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Banks and dissenting policymakers have raised the possibility of challenging regulators' Community Reinvestment Act overhaul in court, but it remains unclear whether they intend to walk the walk.
October 25
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As financial institutions increasingly rely on artificial intelligence for anti-money-laundering and fraud detection, they face challenges in meeting regulators' demands for complete transparency and documentation.
October 25
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FTX Trading is considering proposals from three bidders to restart trading on what had been one of the world's biggest crypto exchanges before the company sank into bankruptcy amid fraud allegations.
October 24
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The Consumer Financial Protection Bureau's mission is important. That's why Congress needs to have stricter oversight of its actions.
October 24
Community Financial Services Association of America -
The Alabama bank reported that check fraud resulted in operational losses of $135 million between April and September, including $53 million last quarter. The entire banking industry has been beset by higher levels of check fraud since the start of the COVID-19 pandemic.
October 23
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The Treasury Department's Financial Crimes Enforcement Network issued an alert Friday calling on financial institutions to closely monitor and report suspected financial activities related to Hamas, including complex cryptocurrency transactions and through fictitious charities.
October 23
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The New York State Department of Financial Services and the Federal Reserve Board penalized Metropolitan Commercial Bank for failing to prevent $300 million in fraud in a prepaid card program. It is the latest example of a bank being sanctioned in connection with rampant fraud during the COVID-19 pandemic.
October 20
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Because instant settlement is irreversible, companies like Orum expect to see demand for systems that can vet recipients within seconds.
October 18
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The bank argues federal law preempts a New York state statute requiring at least 2% interest payments on borrowers' accounts.
October 16
