Compliance

The Consumer Financial Protection Bureau is working with other regulators on examiner guidance to help ensure that the agencies enforce new mortgage disclosures in a "corrective" manner, not a "punitive" one, Director Richard Cordray said Tuesday.

When major card networks revealed the EMV chip card liability shift timeline four years ago, the Merchant Advisory Group was quick to make its stance clear: A conversion to chip cards won't mean a thing without a PIN authorization to go with it.

After plenty of grumbling, the U.S. financial industry has finally begun the slow trundle toward faster payments for all. Same-day payments were approved by members of the industry group Nacha in May, approved by the Federal Reserve earlier this month, and will begin going into effect in September 2016.

WASHINGTON — The Consumer Financial Protection Bureau is working with other regulators on examiner guidance to help ensure that the agencies enforce new mortgage disclosures in a "corrective" manner, not a "punitive" one, Director Richard Cordray said Tuesday.

Lawmakers from both political parties on Tuesday sharply criticized the Consumer Financial Protection Bureau's attempt to restrict or eliminate auto dealers' ability to markup a loan by citing their partnering lenders, arguing it would result in higher prices for consumers.

The government appears to be speeding toward establishing uniform standards for student loan servicers in light of reports of pervasive problems in the administration of both private and federal loans.

The government appears to be speeding toward establishing uniform standards for student loan servicers in light of reports of pervasive problems in the administration of both private and federal loans.

Some critics argue that it's a bad idea to introduce chip cards without PIN requirements. But this debate is a distraction from the payments industry's robust and multifaceted efforts to fight cybercrime.

Knowing that fraudsters will target those unprepared to handle EMV chip cards when the liability shift takes place Oct. 1, payment processor Elavon has developed a data security package to protect small businesses.

Keys Federal Credit Union, a $121-million institution based in Key West, Fla., announced the formation of a new volunteer board of directors and supervisory committee, just one week NCUA took Keys FCU out of conservatorship.