Compliance

The Consumer Financial Protection Bureau has cited PayPal for illegally signing up consumers for online credit.

The plan calls for the implementation of two new same-day settlement windows by March 2018. Fees that banks and credit unions will pay each other to cover the cost of the upgrades have been decreased.

If Verifone wants to benefit from the major card brands' efforts to operate in China, it must confront a virtual army of independent sales organizations already selling low-cost payment terminals.

In the payments industry, the common practice is to equate mobile merchants with micro merchants, and to put them on a back burner for things like EMV upgrades.

In a move foreshadowed by Alibaba Group Holding's initial public offering in the U.S., the China-based e-commerce giant's Alipay division has received a U.S. money transmitter license.

No bank has fully disclosed what it spends on the Federal Reserve's Comprehensive Capital Analysis and Review, in part because the figure is hard to isolate. It's a key piece of information missing in the debate over banks' regulatory burden.

MasterCard Inc. is poised to receive an antitrust complaint from European Union watchdogs probing card-payment fees, according to three people with knowledge of the case.

The Bancorp in Wilmington, Del., has again delayed the filing of its 2014 annual report and is also late in submitting its first-quarter results, it said in a news release Friday.

Credit union and banking trade groups sent a joint letter Friday urging members of the Senate Banking Committee to move forward on bipartisan regulatory relief legislation ahead of a markup next week.

The owner of an Ohio-based loan administrator, accused by the Consumer Financial Protection Bureau of deceptive marketing, says he is the victim of a misguided lawsuit by the agency.