Compliance

The rollout of EMV is accompanied by increased card not present fraud, but banks can reduce losses using voice biometrics in the call center.

WASHINGTON — The House passed a massive $340 billion transportation bill on Thursday, striking two key provisions hated by the banking industry while adding several other measures that could affect financial institutions.

The U.S. was one of the last countries to convert to EMV chip cards, at least partly because of the cost involved for the country's massive payments system to replace the easy-to-duplicate mag-stripe cards and halt counterfeit fraud.

WASHINGTON — House Financial Services Committee Chairman Jeb Hensarling, R-Texas, is attempting to add 15 different bills to legislation that would secure funding for transportation projects.

There is no reason to wait—and every reason to move—on improving the way the agency handles complaints related to exams and examiners, according to J. Mark McWatters, a member of the NCUA Board.

WASHINGTON — Though the deadline for compliance is more than two years away, lenders are already warning that they do not have enough time to comply with a new rule that requires institutions to report additional data to regulators on home loans.

In what could be seen as another salvo in the battle between payments and financial services 'disruptors' and more traditional financial institutions, five large technology companies — Google, Amazon, Apple, PayPal and Intuit — have formed a lobbying and advocacy group.

The number of startup companies opting out of the State of New York — more than a dozen — since the financial services department's BitLicense regulation was finalized is troublesome.

As more merchants and consumers adopt mobile payments, many cybersecurity experts warn a boost in mobile payment-related breaches will result, though in some cases providers are sacrificing vulnerability for easier use and more adoption.

As we’ve seen with recent high profile data breaches, the threat of cyber-attacks has accelerated in the last 18 months and shows little sign of abating.