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While remittances may pose higher risks than services like bill pay, they are absolutely necessary in an age of unprecedented migration. It's high time state and federal regulators update the rules to help inspire banks to re-risk.

American Banker readers share their views on the most pressing banking topics of the week. Comments are excerpted from reader response sections of AmericanBanker.com articles and our social media platforms.

Receiving Wide Coverage ...Goodbye Dodd-Frank: President-elect Trump's transition team said it would dismantle the Obama administration's signature post-crisis financial reform law. Republicans are "salivating over a wish list of Dodd-Frank changes that until recently stood little chance of avoiding President Barack Obama's veto pen," the Wall Street Journal said. "The lineup includes everything from regulatory exemptions for community banks and regional banks to a new regime for insurers and asset managers to curbs on the federal government's influence over consumer-finance products such as mortgages and payday loans." A note on Trump's transition website said the incoming administration would replace the law "with new policies to encourage economic growth and job creation," without providing specifics.

Merchants without chip card readers are reporting that a few malicious customers have figured out how to game the system.

Any company that uses point of sale systems or technology is at risk.

The Federal Trade Commission filed a lawsuit against NetSpend on Thursday, alleging that the prepaid card issuer deceived consumers in its advertising.

The Federal Trade Commission filed a lawsuit against NetSpend on Thursday, alleging that the prepaid card issuer deceived consumers in its advertising.

CEO Tim Sloan, who took over from John Stumpf last month as the bank tries to put a phony-accounts scandal behind it, apologized to employees who may have faced such retribution.

Midland States Bancorp in Effingham, Ill., has launched an efficiency push after a period of expansion that reached another milestone Thursday.

The bank's decision, announced Wednesday is an indication many in the industry believe the rule isn't going away, despite speculation that the incoming Trump administration could delay or kill it.