Compliance

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.

Apple's mobile wallet has been out for just four months, and already it has shaken up the way mobile payments operate at the point of sale. It has faced pushback from some merchants and banks, but it has also popularized new forms of security and other payment technology.

While Visa and MasterCard aren't yet applying the same level of pressure for tokenization security as they are for EMV-chip cards, the card networks' CEOs are clear that this technology is their new expectation for e-commerce.

Green Dot Corp. plans to start offering credit lines to its customers, a move that likely foreshadows how new regulations will reshape the prepaid card industry.

MasterCard Inc., the second-largest U.S. payments network, posted fourth-quarter profit that beat analysts' estimates as customer spending climbed.

In yet another revision of its mortgage rules, the Consumer Financial Protection Bureau proposed making it easier for small and rural lenders to make "qualified mortgages." Industry representatives said the changes are poised to make a big difference.

No matter how the European payments landscape looks after the European Commission's new version of the Payment Services Directive takes effect, merchants can almost certainly expect lower rates for accepting card transactions.

Federal Reserve officials suggested that anonymous payments and the technologies powering digital currencies could inform broader plans for reshaping the U.S. payment system.

Visa Inc., the world's largest payments network, posted fiscal first-quarter profit that beat analysts' estimates as card spending increased.