Organization Root Tag

The executive shuffle at the company continues as Credit Suisse America’s Paula Dominick is hired to replace Mike Roemer as chief compliance officer. It also hired or promoted four line-of-business chief risk officers and an enterprise testing leader.

The federal banking agencies clarified that minor violations of Bank Secrecy Act rules will typically not result in a cease-and-desist order.

Appearing to support decentralized systems, the acting comptroller of the currency said on a podcast that "the ultimate public ownership of the payment rails is when you have a network, like the internet, of interconnected institutions and computers."

Payments platform APEXX Global is working with PayPal to expand payment methods to e-commerce merchants using APEXX, including the addition of the Venmo P2P digital wallet.

The new “adverse market fee” for refinanced mortgages resembles steps the companies took to combat the 2008 mortgage crisis. But critics charge it isn’t necessary and will hurt borrowers’ ability to tap into low rates.

Major payment companies have long looked on at cryptocurrencies as too risky to touch, but too tempting to ignore. Mastercard's latest move indicates that the card brands are ready to make a firm pitch for crypto spending.

The complexity of the migration is an opportunity to examine other elements of the payment experience, says TNS' Brian DuCharme.

Eight of the top 15 firms increased headcount this year through June, while only four reduced it.

Built to respond to borrowers' questions about mortgage deferrals, the bot created by Salesforce is evolving and in the future could conduct transactions, handle a wide range of queries or help with emergencies.

The head of the Federal Reserve Bank of Boston said the central bank had acquired stakes in 32 business loans as of Monday, four times the amount from two weeks earlier.

Stripe is expanding its digital payment technology into new industries, and is also welcoming a series of notable executives with backgrounds that are mostly outside merchant technology. But they also have experience with much larger companies, a necessary skill as Stripe tries to grow out of its status as fintech upstart.

Banks and other financial firms say the proposal to reverse restrictions on investment advisers does not go far enough. Meanwhile, investor advocates say it would loosen necessary protections.

ACH network steward Nacha says Visa has been added to its list of partners for a payment information exchange it is creating to help credentialed service providers share and manage electronic payments information for faster and more secure processing.

A second-term Trump administration would likely continue its deregulatory efforts, focus on Fannie Mae and Freddie Mac's exit from conservatorship, and seek to facilitate fintech participation in the banking system.

Chargeback requests have surged since the start of the coronavirus pandemic, as airlines have canceled flights, performers have postponed concerts and supply chain disruptions have delayed the delivery of many goods.

It was an attention-grabbing decision when Facebook hired PayPal's president, David Marcus, in 2014. At the time, Facebook didn't have much of a dedicated payments business to speak of; when people thought of spending money on Facebook, they typically thought of in-app purchases in Farmville.

A second-term Trump administration would likely continue its deregulatory efforts, focus on Fannie Mae and Freddie Mac's exit from conservatorship, and seek to facilitate fintech participation in the banking system.

For ‘big tech’ bundling is the new battle — and a driving factor for Facebook, which is corralling several of its commerce divisions to show its substantial network of users how much they can do without leaving the social network.

The card giant could pay $850 million in cash for the online small-business lender, according to a person familiar with the talks.

A good security strategy is a lot like a healthy lifestyle for small businesses, says Sysnet's Sandra Higgins.