Compliance

Mastercard has joined PayPal, Square, Stripe and a handful of banks offering “bug bounties” to volunteers willing to comb some of its websites in search of glitches.

For many restaurants that originally put EMV on the back burner because of technical complexities and a lower general risk of counterfeit card fraud, waiting to support chip cards has proven to be the right decision.

Having literally written the book on how financial institutions can providing banking services to the legal marijuana industry, Partner Colorado CU CEO Sundie Seefried shares her insights with CU Journal.

WASHINGTON — A bipartisan group of House lawmakers on the financial services panel introduced legislation Wednesday that would help banks remotely open accounts.

Details on the new exam cycle are included in a report from the agency’s Exam Flexibility Initiative working group.

If Wells Fargo employees were fired for trying to stop the bank’s improper account practices, as has been claimed in court, it shines a spotlight on the need for more whistleblower assistance.

The agency said Wednesday it has received more than 500,000 comments on the proposal – and many more may be filed in the coming days.

Fourteen senators including Bernie Sanders, I-Vt., and Elizabeth Warren, D-Mass., sent a letter Wednesday to Attorney General Loretta Lynch calling for the Justice Department to investigate possible criminal wrongdoing by senior executives at Wells Fargo.

3D Secure — commonly implemented as a prompt for an extra password during an e-commerce checkout — was too clunky to appeal to consumers in its original form. But a nearing upgrade could turn 3D secure into a staple of e-commerce by tying it into mobile wallets.

Preventing fraud across multiple purchasing channels is the next major paradigm shift for bank card issuers and merchants.