Compliance

CFPB officials are keeping a close watch on the Qualified Mortgage and ability-to-repay rules to gauge whether further changes should be made. But mortgage numbers don't give a clear picture on what kind of impact they've had.

NEWPORT BEACH, Calif. — The National Association of Credit Union Service Organizations says NCUA is in the wrong for asking Congress to expand the federal credit union regulator's authority over CUSOs and vendors that do business with CUs.

NCUA approved a proposed rule that would raise the asset ceiling for its definition of a "small entity" credit union by $50 million to $100 million.

At least two financial services groups say none of their U.S. bank members have reported the existence of Carbanak malware in their networks, suggesting the threat may not be significant.

Visa Inc. has opted to transfer its card transaction processing in Russia to a local payment system rather than pay a security deposit to do business in the country.

Plenty of card issuing institutions have not fully implemented the EMV technology and will not be ready by the card network-imposed October liability shift.

Despite the pending October liability shift, there are many small and mid-sized merchants and merchant service providers that are only starting to learn about the EMV standard and beginning implementation project plans.

Orrstown Bank in Pennsylvania has introduced two-way text messaging between customers and its service agents. It's the latest effort in the banking industry to make communication easier for mobile-first customers.

Decisions about when and how to implement EMV technology in credit and debit cards are difficult. Many banks have decided to slowly phase it in, despite the fact the delay will open them up to greater potential liability.

Foreclosures and delinquencies may seem like problems from the past, but servicers are still struggling with a massive backlog of distressed loans and a return to normalcy is at least two years away, if not longer.