Compliance

MasterCard is cooperating with a European investigation into its fees, though it is questionable that this process will have a widespread effect on interchange, according to MasterCard CEO Ajay Banga.

While tokenization does represent progress, it is important to consider whether tokenization is, in fact, enough to secure online payments. There are some vulnerabilities, and as cyber thieves grow more sophisticated, companies will have to continue to innovate better security solutions, as well as ensure the ones that are on the market are being used as effectively as possible.

Bank regulators are likely to take further action to force banks to upgrade their cybersecurity processes as hackers continue to find ways to penetrate institutions’ defenses, Benjamin Lawsky, the top former New York bank supervisor, said Tuesday.

The Consumer Financial Protection Bureau is charging two companies affiliated with Western Union and Fidelity National Financial more than $38 million in total charges for allegedly steering consumers into a mortgage payment program that cost them millions of dollars in fees.

There's a classic approach behind many of the retail cyberattacks that make the news: Backoff malware, which “sniffs” the traffic that flows on a network to identify and steal credit card data passed between point of sale (POS) terminals.

Fiserv has agreed to use Fujitsu's handprint-scanning system for fraud prevention in its account-processing product.

Two years after a Texas community bank's legal challenge to the Consumer Financial Protection Bureau's constitutionality was dismissed by a federal court, the case is back from the dead.

Participants at the 2015 Legislative Summit of the National Conference of State Legislatures (NCSL) here will be besieged by credit union messaging from a variety of CU trade groups.

Western Union announced that it will reinstate international remittances into Greece, after suspending them following the country's decision to shut down all banks amid a mounting debt crisis.

NCUA Chairman issues apology after telling House subcommittee that CUs raising questions about the size of her agency's budget are not representing the best interests of their members.