Compliance

On tap at Thursday's NCUA Board meeting: the first-ever public briefing to board members on a proposal that is still under construction, a move that is aimed at creating a rulemaking process that is more open and accessible to all stakeholders.

Financial institutions claiming exposure to Target's 2013 data breach are one step closer to collecting a $39 million settlement.

Visa's rules for card acceptance exceed 800 pages — plus supplements — and MasterCard's are nearly 300 pages. But even though the card networks have explained their expectations in painstaking detail, the difference between strict rules and mere guidelines is much blurrier when finally given to the merchant.

With the CFPB flexing its regulatory muscles, it's no surprise that collectors are making compliance a priority.

COMPASS 4 CUs, the Woodbridge, Va.-based credit union service organization (CUSO) that specializes in regulatory compliance, said effective May 1, ownership of the CUSO was transferred from Belvoir Federal Credit Union to Pentagon Federal Credit Union (PenFed) in connection with the merger of those two credit unions.

Every business runs the risk of fraud, but some are more likely to be targeted than others. The customers you court, the products you sell and even the amount of time you have been in business can make you more vulnerable to an attack or more appealing to a cyber criminal.

Huntington Bancshares is the latest institution to add a cybersecurity expert to its board, highlighting the growing importance of guarding against hackers and other online dangers.

The National Credit Union Administration (NCUA) announced Monday that 22 federally insured credit unions have agreed to pay civil monetary penalties for filing late Call Reports in the fourth quarter of 2015.

Transaction laundering is an increasingly popular scam, in which cyber-criminals hijack the legitimate payment process to sell all manner of illicit goods and services online.

As the first significant act by Rick Metsger since taking the reins at the National Credit Union Administration, plans to push the exam cycle from 12 months back to 18 months drew a swift and positive response from the industry.