May 11 is basically here, with new Customer Due Diligence rules likely to send ripples, if not shockwaves, across the FI landscape. As GIACT EVP of product David Barnhardt explains, in a world where "ready or not" takes on new meaning when it comes to compliance,...
The Department of Labor is examining if Wells Fargo pushed retirement-planning customers into pricier accounts and toward buying more expensive investment funds, generating more fees for itself, The Wall Street Journal reported. Get the Full Story Complete the form to unlock this article and enjoy unlimited...
Fiserv, the global provider of financial services technology, announced Wednesday (April 25) the launch of FinKit for Open Banking, which is aimed at helping financial institutions meet and keep pace with new regulations coming thanks to the open banking initiative. Get the Full Story Complete...
Wells Fargo, the embattled bank, is gearing up to ask the Office of the Comptroller of the Currency for an extension to a deadline to meet an enforcement action that has to do with anti-money laundering controls at the bank. Get the Full Story Complete...
In a “coordinated action” with the Office of the Comptroller of the Currency (OCC), the Bureau of Consumer Financial Protection Bureau (CFPB) announced a settlement with Wells Fargo on Friday (April 20): The CFPB assessed a $1 billion penalty against the bank, but the bureau credited...
A perfect storm of regulatory changes and card brand rule changes has left many merchants wondering to whom, exactly, they are beholden and what, exactly, they must do to comply. Get the Full Story Complete the form to unlock this article and enjoy unlimited free...
Watch out for falling … oh, wait, rising interest rates. Get the Full Story Complete the form to unlock this article and enjoy unlimited free access to all PYMNTS content — no additional logins required. yesSubscribe to our daily newsletter, PYMNTS Today. By completing this...
As regulators seek to impose a $1 billion penalty on Wells Fargo over mortgage fees and car insurance, the bank said on Friday (April 13) that its first-quarter earnings are subject to change, The Financial Times reported. Get the Full Story Complete the form to unlock this...
A Bank of England official warned on Monday (April 9) that the U.K.’s financial system is under cyberattack almost constantly, prompting regulators to soon roll out new standards for cybersecurity for financial firms. Get the Full Story Complete the form to unlock this article and enjoy unlimited free...
