- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
State banking regulators this week suffered a setback with their lawsuit against the OCC over plans to offer bank charters to FinTech companies. Because the OCC’s plan has yet to be implemented, they currently lack standing, a judge says.
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A defamation lawsuit filed by a whistleblower against USAA, which a Florida judge recently dismissed on a technicality, revealed in public court records an estimated 400,000 violations of the Military Lending Act by USAA Federal Savings Bank (USAA Bank), an indirect wholly owned subsidiary of USAA.
The biggest Compliance Fails of 2024 show the real-world consequences of noncompliance for the companies that faltered, but also for their customers and their employees.
Artificial intelligence is an exciting, new technology and it is well-regulated by old laws and rules already on the books, financial regulators said at Compliance Week’s AI & Compliance Summit at Boston University.
