Compliance

Gemalto NV, the largest maker of mobile- phone cards and a manufacturer of EMV card chips, said it’s investigating a report that U.S. and U.K. spies allegedly hacked into its computer network to steal the keys used to encrypt conversations, messages and data traffic.

The financial services industry may be focused exclusively on securing payment card credentials, but other sensitive data can benefit from these efforts.

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.