• 02.26.15

    FinCEN Hits Repeat Offender with $20M Penalty

    The $20 million civil money penalty assessed by the Financial Crimes Enforcement Network (FinCEN) against Oppenheimer & Co. is intended to send several strong messages to all types of financial services companies subject to the Bank Secrecy Act (BSA).

  • 02.12.15

    With Cert Denial, Fed’s Interchange Rules Will Stand

    With the U.S. Supreme Court’s denial of certiorari, the Board of Governors of the Federal Reserve Board’s interchange rules will stand.

  • 01.29.15

    Borrowers Need Not File Suit To Rescind Mortgage Loan Under TILA, U.S. Supreme Court Holds

    In a victory for consumers, the U.S. Supreme Court unanimously ruled that the Truth in Lending Act (TILA) does not require borrowers to file suit to rescind a mortgage loan transaction within the statute’s three-year period.

  • 01.15.15

    Treasury Official Advocates for Cyber Insurance

    Reflecting the continued regulatory focus on cyber risks, Deputy Secretary of the Treasury Sarah Raskin has some advice for banks: buy cyber insurance.

  • 12.11.14

    Comptroller: Retailers Must Be Held Accountable for Data Breaches

    Reflecting continued regulatory focus on the issue of cybersecurity, Comptroller of the Currency Thomas Curry said in recent remarks, retailers must be held accountable for data breaches, urging federal lawmakers to adopt legislation that would alleviate the burden currently shouldered by banks.

  • 11.20.14

    FFIEC: Financial Institutions Need to Share Cyberthreat Information

    Financial institutions of all sizes need to share cyberthreat information with each other, the Federal Financial Institutions Examination Council (FFIEC) urged based upon an assessment performed of the preparedness of various community institutions.

  • 10.24.14

    Plaintiff’s Law Firm Steps Up Actions Against Bitcoin-Related Companies

    According to a complaint filed in a Florida court, a Cryptsy account holder is claiming that Project Investors, Inc. (dba Cryptsy) and its founder and CEO should be held liable for Bitcoin allegedly stolen from his Cryptsy account.

  • 10.09.14

    Bank Directors, Officers Win Dismissal of FDIC Suit

    Almost all cases brought by the FDIC in the last few years against former directors and officers of failed banks have been resolved by negotiated settlements.

  • 09.11.14

    “Culture of Compliance” Urged by FinCEN

    Following months of rumors that the Financial Crimes Enforcement Network (FinCEN) is preparing to impose personal liability on officers, directors and employees for shortcomings in their financial institutions’ Bank Secrecy Act and Anti-Money Laundering (BSA/AML) compliance, the agency issued ...

  • 12.05.13

    #Badidea: JPMorgan Chase Stumbles on Twitter

    JPMorgan Chase’s recent activity on Twitter provides an example of the need for financial institutions to use caution when using social media.