Compliance

Western central banks trying to develop sovereign cryptocurrency models face pushback from lawmakers and other obstacles, while the digital yuan has a much clearer path.

After recent attacks on ATM networks, the PCI Council, a prominent standards body, recommended extra protections for mainframes that handle card and payment data.

Treasury Secretary Janet Yellen will convene top U.S. financial-market and bank regulators on Monday to discuss rules for so-called stablecoins, a key part of the cryptocurrency market where government officials are increasingly fretting about a lack of oversight.

Congress had been close to passing legislation to help banks serve cannabis firms. Now Democratic leaders have all but abandoned the effort, prioritizing a riskier proposal to decriminalize the drug.

The Reserve Bank of India says the card brand failed to comply with a requirement to store transaction details locally. The handling of payment information has become a point of contention between the Asian nation and American firms.

Salt Labs researchers exploited four types of vulnerabilities in the application programming interfaces of a large financial company. Their findings contradict conventional wisdom about the safety of APIs in the sharing of consumer data.

The technology holds great promise for financial services, but it could be just as powerful for scammers looking to break payment card encryption. Visa, Mastercard and others are already building new defenses.

The global company says that a quicker-than-expected economic recovery is creating some opportunities to invest in businesses that will generate returns over time.

Banks should let consumers download their account data and transfer it to other financial providers, according to a new presidential order. Some experts argue aggregators are already making this happen, but others say the directive implies more consumer control.

Income share agreements, which allow college graduates to repay tuition financing as a percentage of their future income, have come under fire lately from consumer advocates for questionable marketing and other potential legal violations. Some hope a partnership between a Virginia bank and an ISA provider will give the product more legitimacy, while others worry it just masks risks for borrowers.