Links in “Banks”

CFPB hits Global Client Solutions, a large payment processor, for $7 million for illegally collecting upfront fees from consumers for debt settlement companies. [8/26/14]

A man handed a note to teller of a Delaware bank demanding cash, but as he made his getaway, bank employees activated a security device known as the "mantrap," which locked the suspect between the interior and exterior doors of the bank. From the looks of his mugshot, the alleged robber was not happy about this. [8/25/14]

Bank of America's $16.65 billion settlement does not equal a check for that amount. Here's how it breaks down. [8/25/14]

They say there’s an exception to every rule. In the case of the Secure and Fair Enforcement for Mortgage Licensing Act, or SAFE Act, there are actually TWO major exceptions to keep in mind, especially if yours is a smaller financial institution. In this episode, AffirmX Analyst Abner Rangel shares what those exceptions are and what potential pitfalls they present. [8/22/14]

In an interesting twist, First Premier Bank, an issuer of credit cards to low-income and credit-impaired consumers, is suing CardHub, a consumer education website, that provides consumers with information about credit card products.  First Premier, which is known as an issuer of high-rate, high fee credit cards, is claiming that CardHub is in violation of trademark law by using the bank’s card information on its website. Or is it just that the comparison of its terms to others looks really bad? [8/22/14]

Though his company is long since gone, having been sold to Bank of America in 2008, former Countrywide Financial CEO and co-founder Angelo Mozilo is not covered by BofA's recent settlement. U.S. attorneys are apparently preparing a civil lawsuit against the man who reportedly earned more than $500 billion between 1999 and 2008. [8/22/14]

Minnesota debt collector gets shut down by the state, but apparently the credit sensitive information he had, such as social security numbers, bank account info, and dates of birth, was too tempting to resist. He would impersonate his victims to take over and steal directly from their accounts. He is looking at 175 months in prison. [8/22/14]

Bank of America settles for $9.65 billion in penalties and $7 billion in restitution for its sale of unsound mortgage-backed securities. BofA's total tab for regulatory fines since the financial crisis is $70 billion. [8/22/14]

Are data breaches taking their toll on consumer confidence in online banking? ABA survey finds that while internet banking is still the most popular way to manage bank accounts, with 31% of surveyed customers naming it the method they use most often to manage their accounts, that number is down from 39% a year ago. Banking at branches at 21% and ATMs at 14% are both up from last year (18% and 11% respectively). [8/21/14]

New York's regulator fines Standard Chartered Bank $300 million for failing to meet the anti-money laundering requirements it agreed to in 2012. In addition, the bank must suspend U.S. dollar clearing services to retail clients of the bank in Hong Kong. [8/21/14]