Compliance

Deployments of biometrics are usually fairly challenging, but Apple has demonstrated through its Touch ID fingerprint system that it can scale a consumer biometric technology quickly. London-based ValidSoft predicts it can do the same for voice biometrics by using the microphone built into most consumer gadgets.

Efforts to apply biometric security to payments have reached the fraud-prone remittance market, as Touch ID takes hold for both incumbents such as Western Union and upstarts such as Xoom.

While lawmakers are calling for a bill to raise Dodd-Frank's unpopular $50 billion threshold for banks to be considered "systemically important," regulators actually have the power to do it without legislation.

The Consumer Financial Protection Bureau is seeking to permanently ban a credit provider in Texas from offering any services because of allegations that it ran a "sham credit card" business.

Acquirers are being encouraged to alert merchants to a new remote malware attack called "Ghost" that allows hackers to take over a network.

Credit unions applauded introduction of a bill that would raise the asset threshold for direct supervision by the Consumer Financial Protection Bureau from $10 billion to $50 billion, but the measure's eventual fate remains uncertain.

Visa Inc., the world’s biggest payments network, named Vasant M. Prabhu to succeed Byron Pollitt as chief financial officer.

The U.K. is rapidly becoming a target for payment crime, with malware on the rise and the country poised for fraud spikes as crooks abandon EMV-protected terminals to target the more vulnerable e-commerce channel.

The Federal Deposit Insurance Corp. issued five consent orders in December, according to the agency's most recent summary of enforcement actions.

MasterCard Inc. will cut more than 500 jobs companywide as the payment network combines some businesses and focuses on increasing digital transactions.