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When EMV chip cards were launched in the U.S., the initial fear in the security and payment industries was that fraud would migrate to e-commerce. But the migration has actually moved further along to the more lucrative venue of real-time Fed-mandated ACH payments.

Ryan, McConnell say they have a deal on a bipartisan Dodd-Frank rollback; New York won more than $5 billion in settlements from big banks under the former AG.

The information you need to start your day, from PaymentsSource and around the Web. Today: Facebook starts a blockchain unit; New York pushes ahead with cryptocurrency investigation; CPMI pushes security standards; St. Louis Fed recommends government virtual currency; Monzo adds proximity P2P technology.

Blockchain's decentralized model can help avoid the "insiders-only" tendencies of centralized markets while distributing risk, contends Donika Kraeva, strategic communications manager at Dentacoin.

The banks contend distributed ledger technology (DLT) makes it easier to coordinate trade finance deals. And the use of smart contracts can help parties comply with contractual obligations such as staged payments.

The legislation, which still needs Senate approval, would let the head of the Small Business Administration raise the program's cap in periods of heavy demand.

Bill supporters say the guidance — which held indirect auto lenders liable for unintentional discrimination at partner dealerships — violated Dodd-Frank, but consumer advocates say the legislation would expose minority borrowers to mistreatment.

Legal costs and legacy issues related to previous management continue to weigh on the online lender's results.

A planned stock offering by the French banking giant would lower its stake in First Hawaiian to 49.9%.

Kam Wong, chief executive at the high-profile, $2.9 billion credit union that serves the NYPD, among other municipal workers, has been charged with fraud.