Compliance

Rep. Patrick McHenry, the top Republican on the House Financial Services Committee, proposed having the central bank update Congress on measures to strengthen its own cybersecurity as well as that of institutions under its watch.

PayPal must pay a fine to the U.K.’s top financial watchdog for failing to keep its operations completely separate from iZettle while authorities investigated competitive effects of PayPal's purchase of the Sweden-based mobile POS provider.

The bank has developed APIs to feed customer data directly to seven fintechs and data aggregators, including MX and Finicity.

Congress should consider acting quickly or companies could treat the Golden State's new data privacy restrictions as a national standard.

Andres Wolberg-Stok at Citi and Sam Taussig at Kabbage debate openness, privacy, control, and how much say consumers should have over their banking information.

The race against high-tech fraudsters has always motivated the Payment Card Industry Security Standards Council, but for too long the council's process for establishing new standards wasn't looking ahead to the next threat.

The Federal Reserve Banks put the brakes on their planned migration of the ISO 20022 messaging standard, delaying a three-phased migration established in 2017 that targeted November 2020 as the start of that process.

The deal expands the number of compliance tools owned by credit union leagues and other industry groups.

JPMorgan Chase General Counsel Stacey Friedman is working to make the bank’s legal department faster and more agile.

Democratic lawmakers and consumer advocates say the remedies offered to consumers by firms like Capital One and Equifax are too difficult to access and not particularly helpful.