Citigroup’s Banamex USA subsidiary is the subject of two more investigations for possible money laundering, the bank reported in an annual regulatory filing the SEC on Wednesday (Feb. 25). Get the Full Story Complete the form to unlock this article and enjoy unlimited free access...
The Consumer Financial Protection Bureau wants to give credit-card issuers — and itself — a break. Specifically, on Tuesday (Feb. 24) the CFPB proposed a one-year break from the requirement that card-issuing banks submit their consumer card agreements to be published on the bureau’s website....
New York bank regulators are considering massive programs to audit large banks’ cybersecurity and anti-money-laundering (AML) systems, The Wall Street Journal reported. Get the Full Story Complete the form to unlock this article and enjoy unlimited free access to all PYMNTS content — no additional...
At a time when more and more U.S. consumers have credit histories that are thin or damaged, banks are turning to alternate ways of deciding the creditworthiness of potential borrowers — including the scoring systems of alternative lenders, according to American Banker. Get the Full...
As much of a problem as payday lenders can be, there are worse things — such as companies that tell consumers who are over their heads in payday loans that they’ll solve the problem, then take the consumers’ money and abandon them to the lenders’...
British payday lenders must publish the costs of their loans on comparison websites so consumers can shop for the best deals, the U.K.’s Competition and Markets Authority (CMA) announced on Tuesday (Feb. 24). Get the Full Story Complete the form to unlock this article and...
First it was Chinese authorities investigating Alibaba for letting fake and substandard goods be sold through its online marketplaces. Then the Securities and Exchange Commission wanted to know why Alibaba didn’t reveal that investigation before its record-setting, $25 billion IPO last September. Now — with...
Global efforts to prevent money laundering are both ineffective and incredibly expensive to maintain — and poor countries are the ones hit hardest by that cost, according to a commentary for Bloomberg. Get the Full Story Complete the form to unlock this article and enjoy...
Santander Bank will relax its standards for approving new checking and savings accounts under a deal announced on Friday (Feb. 20) with New York’s attorney general. Get the Full Story Complete the form to unlock this article and enjoy unlimited free access to all PYMNTS...
