Compliance

Despite the many high-profile breaches that occurred over the past year, too many businesses have not adopted strong security practices and as many as a third don't have a clear understanding of where their sensitive data is stored or how it is protected.

Following the disclosure by a name brand retailer that their point-of-sale (POS) system had been breached, shoppers outside one of the retailer’s brick and mortar locations unanimously told a television reporter that cash was the safest way to pay in-person.

As mobile commerce and other new technologies change the way people shop, fraudsters are changing their methods to adapt. Banks, fintech providers and consumers are all looking at security in new ways.

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.