Compliance

Over the holidays, my wife and I took a short vacation to Napa Valley. We had the opportunity to visit a number of wineries and purchase a few bottles—an experience that also demonstrated the shortcomings of antiquated card security.

Discover Financial Services has entered into a written agreement with the Federal Reserve to improve its anti-money laundering procedures.

The Department of Justice is looking into whether the two dozen banks that facilitated bribes allegedly paid to FIFA officials knew they were doing so. The case is also a test of how much liability banks have over illegal payments they allow.

Financial messaging organization Swift opened its KYC registry to fund distributors and custodians Thursday.

The recent sniping between NCUA Chairman Debbie Matz and board member J. Mark McWatters may have garnered attention, but former board members and others suggest this could actually be a good thing for credit unions.

A visit to an overnight shipping store in Napa Valley reveals that outdated payment-processing procedures remain de rigueur with some merchants — despite the fraud risk.

Merchants expect that payment card fraud will migrate to e-commerce as the U.S. gets more protection at the physical point of sale through EMV chip cards. That means chargebacks, already a problem in physical retail, will escalate in e-commerce as well.

San Diego-based Mitek, a firm that specializes in capturing mobile data for customer acquisition, has acquired Dutch identity verification company IDchecker.

RALEIGH, N.C. — With NCUA mandating last year that all federally insured CUs with assets of $10 billion or more begin "stress tests" this year, State Employees' CU (SECU) here has published results of its own internal stress testing.

The Consumer Financial Protection Bureau is increasingly brandishing a post-crisis tool allowing it to label activities "abusive," but whether financial services firms are closer to understanding the term is still up for debate.