Podcast: Measuring and Managing the Risk of Employee Misconduct

The FDIC is drafting a proposed rule to require banks to maintain ledgers of “for benefit of” accounts opened by financial technology companies, Bloomberg Law reported.

Federal Communications Commission Chairwoman Jessica Rosenworcel announced that the FCC will vote later this month on new rules to combat illegal calls and text messages that ABA had urged the commission to issue.

Earlier this week, VersaBank closed on a deal giving the Canadian point-of-sale lender a point of entry into the U.S. market. Founder and CEO David Taylor discusses the bank's growth plans in the United States. 

FinCEN’s proposed changes to the BSA program rule requiring financial institutions to establish and maintain risk-based anti-money laundering programs are unlikely to bring about meaningful reform, ABA said.

Acting Comptroller of the Currency Michael Hsu suggested that banking agencies may want to consider creating a heightened regulatory and supervisory framework for “systemically important” domestic banks like that in place for global systemically important banks.

Phone calls to college students and parents demanding immediate payment for tuition are scams that seek to trick victims into turning over their bank account information or making fraudulent payments, the FTC warned.