Compliance

The Financial Crimes Enforcement Network, a division of the Treasury Department, has assessed a $1 million civil penalty against MoneyGram International's former chief compliance officer.

Benjamin Lawsky, New York's top financial regulator, sharply criticized banks for their failure to speed up the payment system, warning that the government may step in if they continue to lag behind.

It’s clear that merchant acquirers and processors need to find a way to provide a fast, scalable and merchant-friendly certification path to EMV.

The Consumer Financial Protection Bureau's lawsuit against Sprint Corp. is likely to be a test case for whether it has the power to oversee telecommunications firms.

New York financial regulator Benjamin Lawsky revised his proposal for policing virtual-currency companies to eliminate some rules that Silicon Valley claimed would crush the fledgling industry.

ALBANY, N.Y. — Gov. Andrew Cuomo signed into law legislation allowing state-chartered credit unions to combine select employer groups, associational and community groups into a single field of membership at the same time, according to the New York Credit Union Association (NYCUA).

State money transmitter licensing laws are among the most important rules that address the dangers posed by payments, especially in the non-bank payments area.

The Consumer Financial Protection Bureau filed a lawsuit against Sprint Corp., alleging it illegally processed improper third-party billing charges – marking the first time the agency has pursued a telecommunications firm.

Optimal Payments has released a series of onboarding and developer options in an attempt to stay nimble amid the growing market of companies that use application programming interfaces (APIs) to offer transaction capabilities to retailers.

More than two dozen Senate lawmakers signed a letter this week urging the Federal Housing Finance Agency to drop its proposal to tighten Federal Home Loan Bank membership rules.