Compliance

WASHINGTON — The Consumer Financial Protection Bureau finalized a rule Monday that will allow institutions that limit the amount of customer data they share to post annual privacy notices online rather than by paper delivery.

New York regulator Benjamin Lawsky may use the cybersecurity rules he's proposed for virtual-currency companies as a model for traditional banks. That would subject the financial institutions his agency supervises to the most stringent data-security rules anywhere.

An executive order signed by President Obama on Friday that mandated the adoption of chip and PIN technology in government cards and enabled its use in facilities like Post Offices is a "meaningless gesture" that smacks of politics over substance.

As Apple Pay launches Oct. 20, the new mobile wallet will be put to the test. It has the prestige of Apple and the participation of hundreds of card issuers, but it also faces several challenges that may be difficult to overcome.

The White House is slated to unveil a major package of initiatives on Friday to increase data security for financial transactions, including an executive order to add chip-and-PIN technology to government-issued credit and debit cards.

MasterCard will launch a contactless card with a built-in fingerprint sensor in the U.K. in early 2015 with Norwegian payment technology provider Zwipe.

Almost half of merchant payment-card terminals in the U.S. will be able to handle more secure EMV- chip technology by the end of 2015, according to an industry group.

WASHINGTON — The U.S. Supreme Court could have a say in how regulators issue guidance on interpretive rules that are not subject to notice and comment, which could have ramifications for NCUA and the credit union community.

Bitcoin adopters in Ohio have been some of the most vocal about how state laws need to evolve to encourage the use of digital currency, but the Ohio government seems to want that change to come from the courts rather than the legislature.

Web standards developer W3C has formed the Web Payments Interest Group to create security and customer experience standards.