Compliance

The U.S. shift to EMV-chip card security hasn't been smooth. Many companies saw the card networks' Oct. 1, 2015 fraud liability shift date as a starting point rather than a deadline, and even the companies that thought they would be unaffected by the EMV transition found themselves dealing with major headaches.

A compliance-at-all-costs mentality, which is the overarching attitude in many banks, results in overspending and overallocating valuable resources to meet both real and perceived compliance standards.

A mix of lawmakers, regulators and industry stakeholders discussed reforming Dodd-Frank and other hot topics at the National Association of Federal Credit Union’s conference on Capitol Hill.

Despite praise from CFPB Director Richard Cordray, tension was high during his address at the conference, which also featured a variety of lawmakers alternately criticizing and defending the bureau.

Other investigations related to Wells Fargo may prevent the Consumer Financial Protection Bureau from sharing confidential information with House investigators, Director Richard Cordray said Thursday.

Despite several attempts over the past two weeks, Wells Fargo has been unable to quell the furor surrounding revelations that thousands of employees opened millions of phony accounts. Here's why.

Bashas' Inc., Arizona's largest independent grocery chain, was certain it was prepared for the October 2015 EMV liability shift. After all, it had begun purchasing terminals for all of its 1,400 checkout lanes a year in advance.

Republican lawmakers are pushing back against claims by the Consumer Financial Protection Bureau's allies that it rooted out fraud at Wells Fargo, arguing the L.A. City Attorney and the Los Angeles Times brought the situation to light.

It didn't go well when Wells Fargo CEO John Stumpf appeared before the Senate Banking Committee. Here are some of his worst moments.

Verified by Visa — which typically functioned as a way to improve security by adding a password to the online payment process — is phasing out the use of static passwords. Visa's plan is a chance to improve the standard for authenticating online commerce.