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Both standards are confusing and not universally adopted. But both are a necessary baseline to protect merchants and payment companies.

With big companies frequently set in their ways for how they make cross-border payments, most innovation is targeted toward smaller shops that make fewer payments to foreign suppliers. But that isn't always the case.

The allowance by some states for companies to incorporate without disclosing beneficial owner information significantly hampers anti-money-laundering efforts and drives up bank costs.

Ashton Ryan, who had been removed as CEO in December, had been serving as its president. The New Orleans company also agreed to sell preferred stock to directors to help it make payments tied to its subordinated debt.

The San Antonio company named Chad Borton, previously head of consumer banking at Fifth Third Bancorp in Cincinnati, for the role. Fifth Third has named Philip McHugh as his successor.

The Office of the Comptroller of the Currency's top examiner at Wells Fargo was removed last month, according to Reuters.

A Senate Republican effort to use an obscure process to restructure the CFPB could derail any bipartisan agreement on targeted changes to the Dodd-Frank Act.

Starling Bank in the U.K. is building from scratch. Unlike other neobanks, Starling sees its future as a hub of financial products, not necessarily the generator of every product. CEO Anne Boden explains.

Most banks still struggle to make it simple for customers to open new accounts entirely on mobile devices.

A new company, bridge21, says it is using bitcoin to allow users to send money from the United States to Mexico at better rates than traditional payments companies.