Compliance

The Clearing House and EMVCo launched separate efforts to develop standards for tokenization, a process that replaces sensitive account data with a secure token. But now, their paths are converging.

LAS VEGAS — Despite NCUA Chairman Debbie Matz's repeated promises of significant changes that will be made to the agency's proposed risk-based capital rule — most recently at NAFCU's annual meeting here — there's still a lot of anxiety among credit union executives about how the final rule will shake out.

LAS VEGAS — After months of largely negative feedback from credit unions, NCUA Chairman Debbie Matz announced Wednesday that the agency plans to make "significant changes" to its proposed risk-based capital rule.

WASHINGTON — Top lawmakers on the House Financial Services Committee debated the value of the Dodd-Frank Act in dueling reports on Monday, commemorating the financial reform law's fourth anniversary.

Between the proposed virtual currency regulations in New York and those already established in Texas, the future of Bitcoin would be brighter if more states follow the Lone Star State's example, says one legal expert.

Between the proposed virtual currency regulations in New York and those already established in Texas, the future of Bitcoin would be brighter if more states follow the Lone Star State's example, says Jacob Farber, senior counsel for Perkins Coie LLP.

WASHINGTON — The Consumer Financial Protection Bureau said Monday that it is accepting consumer complaints on prepaid cards and other non-bank products such as credit repair services and pawnshop loans.

As the U.S. shifts to EMV-chip cards to improve security at the point of sale, fraud will move online, and ACI Worldwide is preparing for that challenge. The payment technology company's $205 million purchase of ReD will help it close up vulnerabilities in card-not-present transactions.

Security breaches at trusted global corporations, such as Target and eBay are becoming a regular occurrence. Valuable customer data serves as a new currency of sorts for fraudsters, prompting the digital underground to stage well thought out attacks on a scale previously unheard of.

The appeals process initiated by retailers just a few days after a district court approved a $5.7 billion settlement in the years-long swipe-fee case will proceed, as U.S. District Judge John Gleeson refused to dismiss the suits.