Compliance

Mortgage lenders impose steep pricing adjustments for cash-out refinancing; bankers fear massive borrower fraud in the Paycheck Protection Program; some worry the coronavirus is giving banks an excuse to spy on employees; and more from this week's most-read stories.

Citing a need to better serve its customers in the future and also boost the image of the XRP cryptocurrency, Ripple announced this week it was joining the ISO 20022 standardization committee.

The push to revive the District charter began in 2001, nearly 40 years after the original rule was repealed and CUs there adopted the federal charter.

When the coronavirus pandemic began, Square pushed hard to get a bigger share of merchants' online sales and consumers' stimulus spending — and even received its long-desired bank license — but found that this wasn't enough to offset the effects of the crisis.

Financial institutions have been monitoring workers' productivity at home with tracking software and webcams. Now they're mulling whether to mandate contact-tracing apps, COVID-19 testing and other practices that could raise further privacy issues.

Contactless payment volume surged during the first four months of 2020 in Denmark, Norway, Sweden and Finland, accounting for about 70% of all transactions, according to new data from Copenhagen-based payments technology firm Nets.

Visa is delaying previously announced interchange and fee changes until April 2021, except for changes in the supermarket category, which will remain on the same schedule.

There is one area of commerce that has experienced an uneven consumer response to the coronavirus crisis: subscriptions. Some companies have benefited greatly while others have not.

Regulators need to give more detailed guidance on the coronavirus relief program for small businesses so lenders don’t get trapped in underwriting mistakes down the road.

American Express will delay the EMV fraud liability shift due to complications from the coronavirus, following reports that Visa has made a similar concession.