Links in “Banks”

Four bank and credit union associations join together to tell FinCEN that a 30-day comment window is not enough to adequately address its call for input on pending changes to customer due diligence requirements. [1/11/16]

A judge finds FinCEN and Department of Justice guidance that prosecutors and bank regulators might "look the other way" if financial institutions violate federal laws on marijuana-related businesses as "untenable." [1/11/16]

Here is some guidance on building a matrix to help develop a security posture that helps the organization's operations, rather than impeding it. [1/8/16]

Banks, who often lament that consumers don't care enough about security because they know their banks will bear the brunt of fraud losses, are looking for better ways to authenticate their customers. One example is one-time passwords, which a majority of surveyed customers found to be either an acceptable approach or were strongly in favor of it. [1/8/16]

When there's a new agency out there with an enforcement arm issuing subpoenas, expect the legal firms to start circling. "Practically every large firm in the country now wants to get into this area." [1/7/16]

Ranking member of the Senate Banking Committee urges President Obama to prioritize funding for Title XII of Dodd-Frank, which has not yet been implemented. Title XII would provide federal grants and other support to financial institutions to make small dollar loans to end the "damaging effects of predatory lending." CBA's president points out the irony in all of this here. [1/7/16]

Federal judge denies credit union's request for an injunction against the Kansas City Fed, saying he cannot encourage financial institutions to violate federal law. [1/7/16]

Court rules that CFPB is not "federalizing" state law, nor is it trying to establish a federal usury limit, as prohibited by the Consumer Financial Protection Act. [1/6/16]

Presidential candidate Bernie Sanders says fellow candidate Hillary Clinton is too cozy with bankers, takes in speaking fees from the financial industry, and doesn't go far enough with her plans to regulate financial institutions. [1/6/16]

OCC releases JPMorgan Chase from business restrictions for violations regarding residential mortgage loan servicing and foreclosure practices, but hits it with a $48 million fine for earlier violations of the same practices. [1/6/16]