Compliance

With dueling legal opinions on NCUA's authority to implement a multi-tiered risk-based capital rule, the regulator could be facing a lawsuit.

Credit union system stakeholders responded strongly to the risk-based capital rule NCUA's Board proposed in January 2014. The agency received more than 2,000 comment letters, and Chairman Matz and staff heard more comments at a series of listening sessions last spring and summer.

The Consumer Financial Protection Bureau has finalized tweaks to a mortgage disclosure rule set to take effect later this year.

There are less than 300 days left until the liability shift for US credit and debit card payments occurs, but it appears that consumers and their credit and debit card issuers are not exactly on the same page when it comes to the sense of urgency around making EMV-enabled payment technology a reality.

In a State of the Union address declaring that “the shadow of crisis has passed,” President Obama said he will veto efforts to roll back financial reforms further while he reiterated support for a bill addressing cyber threats.

Fulton Financial in Lancaster, Pa., reported lower quarterly earnings that reflected the costs of complying with a regulatory order.

Two defendants in an alleged identity theft ring that targeted banks in New York City and Westchester County have pleaded guilty.

For U.S. banks, the days of playing defense with respect to the billions of dollars they collect when consumers swipe their debit cards may finally be over.

NCUA needs to work harder to prove its legal authority to issue a risk-based capital rule, to show that the rule is really needed and to make it the least intrusive and best possible for the credit unions they regulate and insure.

Even though Apple Pay hasn't yet launched in the U.K., experts in the EMV-compliant nation are eager to bring over Apple's mobile wallet to improve card-not-present security.