Compliance

Large merchants are re-energized in their conflict with Visa and Mastercard on the issue of swipe-fee costs, following the U.S. Supreme Court’s refusal to reinstate a class-action settlement that deeply divided many of the plaintiffs.

The industry needs to establish a clear set of rules and standards so safe and secure financial data access and sharing continues unrestricted.

The U.S. Supreme Court refused to revive a $5.7 billion settlement of retailer claims that Visa and Mastercard improperly fixed credit card swipe fees, in a rebuff that could mean years of additional litigation.

The administration wants to deal with the concerns of banks of all sizes in its deregulatory efforts, Treasury Secretary Steven Mnuchin said Friday.

Mastercard has hired Sandra Arkell as its new executive vice president, corporate controller and principal accounting officer.

Banks are asking Hong Kong property agents to stop accepting China-issued UnionPay cards, as mainland authorities escalate their crackdown on capital flows out of the country.

The regulator said that Santander has not made sufficient progress in complying with a 2015 enforcement order.

Card issuers are sounding the alarm about the Consumer Financial Protection Bureau's final prepaid rule, claiming that without fixes the agency has opened the door to potential fraud on unregistered cards.

The Justice Department believes that Pyongyang was behind last year's New York Fed heist; Marcus Schenck, DB's CFO and deputy CEO, may be next in line to head the big German bank.

Malicious hackers tend to swarm around industries they perceive as vulnerable, and terminal makers are the latest to find themselves in the crosshairs.