Compliance

The Society for Worldwide Interbank Financial Telecommunication has its sights set on expanding real-time payments in the Asia-Pacific region as part of its plan to further its first value-add service created from the Global Payments Innovation initiative.

Since taking office in November of last year, acting Consumer Financial Protection Bureau Director Mick Mulvaney's actions have sparked outrage from his critics seemingly at every turn, including several times just last week.

CUNA and NAFCU have both submitted letters requesting civil investigative demands from the bureau be more specific as to the conduct under investigation.

In addition to changing the name of the Consumer Financial Protection Bureau, the acting director wants to also nix public complaints; the good, bad and ugly in Zelle's ascendance; a case study for digital outage recovery; and more from this week's most-read stories.

The CFPB finalized an amendment to its "know before you owe" mortgage disclosure rule that gives lenders more flexibility to adjust closing cost estimates and pass those increases on to borrowers.

Dan Rollins engineered nearly a dozen deals while at Prosperity Bank. Now CEO at BancorpSouth, he has returned to M&A after spending four frustrating years dealing with compliance issues.

More fraudsters are seeking out children for identity theft, highlighting another danger of the digital economy.

The Federal Trade Commission alleges in a lawsuit that the company's "no-hidden-fee" pledge is deceptive. LendingClub says the claims are unwarranted.

Companies that handle sensitive customer data have even more to worry about when making an acquisition. Not only do they have to be sure the acquired company has good security, but they can't let their guard down even after the acquisition closes.

Many in Europe and the U.S. view GDPR as Europe's first true data breach protection measure — in part because it requires notification of any breach within 72 hours. But they also see it as a complex and costly race to the May 25 deadline.