Compliance

In today’s fast-paced, digital age, when smartphones are “outdated” six months after they’re released, nothing stays the same for long, and that includes payments fraud.

The Consumer Financial Protection Bureau has suggested that financial institutions get busy on implementing consumer protections for real-time and faster payments.

Deposit premiums could rise at 20% of banks with up to $10 billion in assets. Many of those banks could rethink asset concentrations that would trigger higher assessments.

MasterCard Inc. received an antitrust complaint from European Union watchdogs over concerns it's "artificially raising" card-payment fees.

Business went on as usual at commercial banks as the New York Stock Exchange and other large businesses suffered outages. But the confluence of events served as an unnerving reminder of the cyber risks facing the industry.

As technological problems forced the New York Stock Exchange to grind to a halt Wednesday, financial services insiders and observers weighed in on the vulnerabilities of increasingly electronic financial systems.

ACI Worldwide has added three board members with pervasive experience in financial services, following the retirement of other board members.

Mobile banking technology provider Monitise Plc has informed its shareholders that Visa Europe will reduce its investment in the company, but will complete a three-year commercial agreement to develop services and finish products.

With the looming liability shift in the United States, EMV is on every payment card issuer’s mind, though with the challenge comes opportunities, such as bolstering customer relationships.

The National Credit Union Administration has signed a five-year contract with the National Treasury Employees Union—which represents nearly 80% of the agency's work force.