Compliance

Wells Fargo has agreed to pay $187.5 million to settle claims by federal regulators that the megabank wrongfully opened unauthorized bank and credit card accounts for more than 2 million customers.

Wells Fargo has agreed to pay $187.5 million to settle claims by federal regulators that the megabank wrongfully opened unauthorized bank and credit card accounts for more than 2 million customers.

The one thing payment terminal hardware makers should have been sure of this year was relatively strong demand from merchants finally upgrading to EMV-compatible equipment after the slow start last year to the U.S. chip-card migration. But that's not how it's turning out.

As one of the world’s largest e-commerce platforms, it’s natural that fraudsters would be tempted to game the Amazon system. If it could happen to an e-commerce giant like Amazon, what hope does a smaller e-commerce site have against the fraudsters who run even sneakier scams - like transaction laundering?

Trade groups cheered NCUA’s long-awaited announcement of public budget hearings.

The trade group challenged the NCUA's member business lending rules enacted in February, but also hinted that it is prepared to file another lawsuit should the agency move forward with a separate regulation that would expand credit unions' field of membership.

The Federal Reserve’s structure and makeup – and even geographical locations – drew criticism from members of Congress and the public as favoring the wealthy and ignoring the conditions of ordinary Americans

Making good on threats it had made previously, the Independent Community Bankers of America filed suit Wednesday against the National Credit Union Administration, claiming the agency's recent overhaul of its member business lending rules violate two different laws.

Fintech is transforming consumer financial services, but automation and data innovation can also help banks meet their growing regulatory demands.

As the payments industry progresses through the first stage (POS terminals) of the EMV liability shift and gets closer to the second stage (ATMs), a lingering question that can be asked is: why would any card issuer not want to get certified for EMV?