Compliance

A U.S. judge rejected American Express Co.'s settlement with merchants over credit card fees after finding the plaintiffs' lawyer tainted the deal by exchanging confidential information with an attorney for MasterCard Inc.

Four Oaks Bank & Trust in Four Oaks, N.C., said its May 2011 enforcement action has been replaced with a more lenient agreement that requires it to address governance issues and other matters.

As the pace of new government regulations continues unabated, an increasing number of CUs are looking to outsource their compliance operations to third-party vendors to cut costs, paperwork and man-hours. Here's what to consider.

Protecting payment card data is a never-ending struggle, and the fraudsters are only getting more creative. So far this year several incidents and studies have demonstrated the evolving nature of cybercrime.

The House of Representatives has already passed two strong bills (the Protecting Cyber Networks Act and the National Cybersecurity Protection Advancement Act). We are now urging the Senate to take up and pass the Cybersecurity Information Sharing Act (S. 754) as soon as possible.

China's central bank on Friday proposed a series of restrictions that may restrict overall e-commerce activity rather than simply funnel it through the state-controlled banking system.

Battery Ventures, a tech-focused investment firm, has agreed to acquire Physical Security Business Unit, part of the security division of Nice Systems, a vendor that focuses primarily on the financial services industry.

Fiserv is aiming to improve the accuracy and cost-effectiveness of biometric authentication by shipping palm-biometric kits to its customers.

The ability to browse limitless shops and purchase goods and services from almost anywhere in the world has revolutionized commerce.

ALEXANDRIA, Va. — The ongoing dispute between state and federal regulators over NCUA's overhead transfer rate took yet another twist with the general counsel of NCUA writing a letter to the head of NASCUS that attempted to quash several of the trade group's arguments.