Compliance

Millennials -- a demographic credit unions badly want to capture -- are using P-to-P services to pay for drugs and gambling, and while CUs may not want their members paying for illegal activities with account-connected services, a growing number of institutions also want to be the FI of choice for legal drug businesses.

Mobile and online P-to-P services may be the popular, mainstream payments service of choice for young people who don't prefer cash, but it also has a seedy underbelly, according to new survey data.

Information sharing is about to get much different in Europe, giving bank alternatives such as Klarna more to work with as they compete against the financial services establishment.

Some merchants, issuers and processors are concerned that the card brands will tout their "ownership" of payment card prefixes as a basis for requesting that mobile transactions on their cards be routed to their networks and screened through tokenization services they provide.

The companies will use an application programming interface to let Chase customers send the data to the apps Finicity supports, including personal financial services apps and income verification tools.

Though recreational pot is legal in a number of U.S. states, big banks don’t want to work with cannabis sellers. And that is unlikely to change anytime soon.

The Trump administration said it plans to rescind an Obama-era program that would allow foreign entrepreneurs who launch startup companies in the U.S. to live in the country, in the president’s latest effort to constrict immigration flows.

The nation’s largest state set out to bring a once-illicit industry into the financial mainstream but is now running into a Washington, D.C.-size barrier.

Guests include Carl Ryden of PrecisionLender, Felipe Echandi Lacayo of PanaFintech, Sam Shawki of Magic Cube.

National Credit Union Administration Chairman J. Mark McWatters said dropping Consumer Financial Protection Bureau oversight of credit unions would free up CFPB resources.