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Former CEO John Stumpf agreed to pay a $17.5 million penalty while ex-community banking chief Carrie Tolstedt faces a potentially $25 million fine for sales-practices misconduct. Other former officials could face fines totaling $16 million.

In a move to increase the attractiveness of its Real-Time Payment (RTP) network, The Clearing House is raising the transactional limit for single payments to $100,000 starting February 1, 2020.

Data from the Credit Union National Association indicates the rule has decreased lending and increased costs as institutions work to stay compliant.

In a move to increase the security of card transactions, the Reserve Bank of India (RBI) is requiring all advanced features such as contactless to be turned off for new and re-issued cards until the user opts-in.

While the size of the global remittances market may ebb and flow with the global economy, one thing is clear – it’s massive, at over $700 billion in payments each year and growing.

Moving to an open banking system comes with both costs and benefits that each bank will need to weigh before diving in.

A former credit union CEO explains why it chose to become a bank, subject to taxes, and says Congress needs to intervene in discussions on an NCUA proposal to loosen capital standards.

A former credit union CEO explains why it chose to become a bank, subject to taxes, and says Congress needs to intervene in discussions on an NCUA proposal to loosen capital standards.

The company will pay $211 million for a bank with 22 branches and $1.2 billion in assets.

Even in mature markets, consumers may not feel very connected to their payment cards. This is making issuers more reliant on selling data-driven experiences over simple transaction processing.