Compliance

A California company called NEFT wants to provide the online meeting place where debt-laden borrowers get together with lenders and credit bureaus to negotiate repayment plans. Backed by some prominent investors, NEFT says it offers carrots to get all the parties to participate.

Republicans and the financial industry face long odds in making structural changes to the Consumer Financial Protection Bureau this year, but the ultimate outcome of the battle is still far from certain.

Though the EMV transition is a significant step in the effort towards making payments more secure, this EMV liability shift won’t solve mass data breaches on merchants.

Consumer advocacy groups are urging regulators to take a closer look at how alternative lenders are using the stockpiles of personal information they collect.

The Mortgage Bankers Association is disappointed that the Consumer Financial Protection Bureau has not provided an explicit temporary safe harbor for lenders who have made a good-faith effort to implement new disclosures.

Hackers did not steal banking or payments data from Experian, but they might as well have. Breaches like the one sustained at the company call into question the entire system of identification that banks rely on to open accounts and conduct other everyday business.

Compared with other recent breaches, the theft of 6,400 user email addresses and passwords on the American Bankers Association's website might seem like small potatoes. But experts said the attack — the first in the association's history — was still significant and could have implications for banks.

A server containing sensitive consumer information at Experian has been breached, with the records of as many as 15 million T-Mobile customers stolen, the companies said Oct. 1.

This week marks the fourth anniversary of the “Durbin amendment,” a defective law directing the Federal Reserve to impose price-controls on debit interchange fees.

A server containing sensitive consumer information at Experian has been breached, with the records of as many as 15 million T-Mobile customers stolen, the companies said Thursday.