Charging customers with surprise overdraft fees will cost Regions Bank a total of $191 million in customer redress plus a civil monetary penalty paid to the victims relief fund of the Consumer Financial Protection Bureau (CFPB). Get the Full Story Complete the form to unlock...
The U.S. Chamber of Commerce has joined several business organizations in suing the Consumer Financial Protection Bureau (CFPB), saying the agency is overstepping its bounds in new rules that deal with discrimination in banking. Get the Full Story Complete the form to unlock this article...
Goldman Sachs, Citigroup and other financial giants have agreed to pay regulators $1.1 billion in penalties for not monitoring employees using unauthorized messaging apps, according to a press release from the Securities and Exchange Commission (SEC) on Tuesday (Sept. 27). Get the Full Story Complete...
Federal Reserve Chair Jerome Powell thinks the crypto industry could cause broader financial turmoil in the future than it has so far, so there’s a need for better regulation, Bloomberg wrote. Get the Full Story Complete the form to unlock this article and enjoy unlimited...
Citigroup is undertaking drastic cutbacks on the amount of money it lends to private equity firms and other asset managers as big banks try to adhere to strict new regulations on capital. Get the Full Story Complete the form to unlock this article and enjoy...
On Capitol Hill, by now the cast of characters — and the flash points — are familiar. 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...
The top brass of the country’s seven biggest financial institutions faced lawmakers in a second meeting on Capitol Hill about accountability, consumer protection, and compliance, with private peer-to-peer payment network Zelle emerging as a hot-button issue. Get the Full Story Complete the form to unlock...
A few words sum up the state of fraud and the challenges facing financial institutions (FIs): rising at a fast clip. Get the Full Story Complete the form to unlock this article and enjoy unlimited free access to all PYMNTS content — no additional logins...
Digital bank Revolut is being investigated by a regulator in Lithuania following a data breach earlier this month that exposed sensitive information on 50,150 customers, including those in the European Economic Area (EEA). Get the Full Story Complete the form to unlock this article and...
