Compliance

WASHINGTON — Credit unions aren't the only ones bracing for changes to rules related to risk-based capital and risk weights.

Total holiday sales are expected to reach $863 billion in 2014, up from $822 billion last year. That is a staggering amount of money, and the weeks between Thanksgiving and Christmas make or break a sales year for large and small businesses alike.

After spending six of his 10 years in the U.S. Air Force as a cybersecurity professional, Chris Gerritz brought his expertise to the retail payments industry. His startup, Infocyte, operates on the premise that hacks into payment systems are inevitable.

At a roundtable with federal and state regulators in Los Angeles this week, bankers offered some fresh ideas about possible regulatory relief. Here is a sampling.

DENVER—As the Consumer Financial Protection Bureau prepares to establish national rules regarding payday lending, the success of Colorado's payday lending law may provide some type of model for federal action on matter. But the credit union community is cautioning that a closer look is necessary.

Zomato hasn't been able to add payment capabilities to its restaurant discovery app in its home base of India, but the company has found a more welcoming audience in Dubai, where it plans a pilot next month.

Target Corp. must defend itself against claims that its failure to shield computer systems allowed hackers to steal the account data of millions of shoppers, forcing banks to reimburse fraudulent charges and issue new credit and debit cards.

The House passed a CU-backed bill Tuesday to study the effects of a Federal Reserve Board rule restricting the number of transactions customers can make with their savings accounts each month.

MasterCard Inc., the second-largest U.S. payments network, raised its quarterly divided 45 percent to 16 cents a share and announced a new stock repurchase program.

CUNA has expressed concern over a small South Florida credit union that was recently assessed a $300,000 fine by the Treasury Department's Financial Crimes Enforcement Network for ignoring reporting and record-keeping requirements under the Bank Secrecy Act between 2009 and 2014.