Compliance

Exciting growth opportunities exist for small and medium businesses taking advantage of the ever-increasing holiday shopping season. However, amidst this positive backdrop, lurks the negative threat posed by hackers and cyber criminals that prey on holiday shoppers and businesses.

A lot happened in 2015 to advance digital security, but a lot also happened to challenge the status quo and force merchants and banks to rethink their strategies. Here are some of the key changes that took place in the past year.

Now that the state House of Representatives has passed the legislation, all eyes turn to the state Senate, where the Michigan CU League expects to find strong support for the modernization effort.

Like the long shutter times required for old photographs, a payment transaction at a hotel can remain exposed for a while, creating a distinct fraud risk that's not often found at other merchants.

The House Financial Services Committee approved a data security bill Tuesday that would require all financial companies to have similar security protections and notification requirements as banks.

The window is rapidly closing for the inclusion of key credit union measures in the budget package as lawmakers remain sharply divided over the bill.

The House Financial Services Committee approved a data security bill Tuesday that would require all companies that handle sensitive financial data to have similar security protections and notification requirements as financial institutions.

Align Commerce, a San Francisco-based firm focused on cross-border payments for small and midsize businesses while expanding the use of blockchain technology to move currency, has hired Intuit veteran Jay Hansen as compliance officer and general counsel.

If a fraudster doesn't know a credit card verification value code, it creates a major hurdle in attempting a card-not-present transaction with stolen cards or credentials.

The Financial Stability Oversight Council is an enigmatic interagency body that has not provided enough rationale for designating certain insurance firms as a threat to the economy, the Republican leadership of the House Financial Services Committee said Tuesday.