Compliance

There is money to be made for merchants who support mobile payments. However, cyber criminals have noticed and they want their cut, too. The newer and more untested the technology, the greater its potential vulnerability.

NCUA announced that New Bethel Federal Credit Union of Portsmouth, Va., was voluntarily liquidated. The decision was made after "determining the credit union was unable to restore viable operations."

Bureau's IG finds cost to renovate its offices were in line with similar projects taken on by other agencies and not extravagant.

WASHINGTON — More than a dozen Senate Democrats introduced legislation Wednesday that would prohibit employers from requiring job applicants to supply their credit histories.

NCR Corp. said the U.S. Securities and Exchange Commission doesn't intend to recommend enforcement action against the company over 2012 allegations of foreign business violations.

Sen. Richard Blumenthal (D-Conn.) is asking the Merchant Customer Exchange to explain why Apple Pay and other Near Field Communication-based payment systems were prohibited in some MCX stores shortly after the Apple wallet's 2014 launch.

Lawyer misbehavior caused a judge to torpedo American Express' interchange-fee settlement with retailers, a decision that imperils a similar settlement with Visa and MasterCard.

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.