Compliance

For years, there's been a lot of talk about personal information as an unalloyed asset. But by now it should be clear that the more information a company has about its customers, the bigger a target it is for hackers.

The Senate Banking Committee is scheduled to hold a hearing Jan. 12 on the nomination of Dr. Ben Carson as secretary of the Department of Housing and Urban Development.

A California consumer group on Thursday urged the Senate Finance Committee to delay an upcoming nomination hearing into Treasury Secretary-designate Steven Mnuchin after a leaked 2013 memo described alleged illegal foreclosure practices at OneWest Bank when he was chairman and CEO.

Prior to the October 2015 EMV chip-card liability shift in the U.S., various merchant groups expressed concerns about factors that would keep them from meeting that deadline — some of which remain beyond their control.

In addition to citing fears about loosening underwriting standards, cyber threats, and potential obsolescence, the OCC added sales practices as a source of significant risk to the banking industry in response to Wells Fargo's recent phony accounts scandal.

Retailers are fighting back against financial industry efforts to repeal a cap on debit interchange fees.

Banks are grappling with new challenges in trying to work with voice assistants like Alexa in Amazon's Echo to allow customers to check balances and perform other tasks. But with voice banking on the horizon, banks cannot afford to stall their efforts.

Retailers are fighting back against financial industry efforts to repeal a cap on debit interchange fees.

Mastercard's $900 million acquisition of British payment company VocaLink is under fire, as the U.K.'s Competition and Markets Authority contends the deal will give the card network an unfair advantage in ATM-related negotiations.

As payment apps that mix social media components gain momentum, industry experts are wary that law enforcement will place even more surveillance and policing roles on payment processors.