Compliance

ALEXANDRIA, Va. — The NCUA Board will go over the regulator's 2014 mid-year operating budget when it holds its next scheduled meeting Thursday morning, and plans to introduce a rule that is expected to bring significant relief to credit unions.

American Express Co. courts wealthy clients with perks like access to premium tickets. That business model would be jeopardized if it cut processing fees to match those of rivals, an Amex executive testified in a trial over claims the card company violates antitrust law.

WASHINGTON — CUNA and NAFCU are watching the House Financial Services Committee closely today, hoping the panel votes not only to provide regulatory relief for credit unions, but also approves a legislative amendment that could delay implementation of NCUA's risk-based capital rule.

The Federal Deposit Insurance Corp. has withdrawn a list of merchant categories, including payday lenders, debt consolidation firms, pornography businesses and others, that it said warranted heightened attention by banks processing their transactions.

If there's one lesson bankers and retailers can take away from the hacking incident at online ticket seller StubHub, it's that they need to educate their customers about the dangers of using the same passwords on multiple sites.

More consumers are skipping the mall and buying online instead. Many traditional retailers have already moved online to maximize their sales among customers who either don’t have access to their physical shops due to distance, or for whom shopping online is simply more convenient.

LAS VEGAS — NCUA plans to propose a rule to "effectively eliminate" the 5% cap on fixed assets, NCUA Chairman Debbie Matz announced.

LAS VEGAS — NCUA Chairman Debbie Matz reiterated last week that the agency plans to make "significant changes" to its proposed risk-based capital rule, but some industry stakeholders were still skeptical of how the final rule will look, particularly if it isn't reissued for a second comment period.

Visa, which just revamped its digital payment system, will introduce secure "tokens" in September to replace the 16-digit account number for online payments.

NCUA's civil money penalties are having the agency's desired effect on late call report filers, according to two credit unions that filed late in April and have paid their fines.