Compliance

Even though the adoption of the EMV initiative is voluntary, you don’t want to be the one looking for a chair when the music stops. Missing the October 2015 deadline for implementing Chip and PIN could come with a costly price tag for banks and merchants.

LAS VEGAS — With less than a year before implementation, the clock is ticking for financial institutions that need to overhaul mortgage disclosures.

As the payments industry attempts to standardize the process of using a token to replace sensitive data, the end result may still involve several different approaches.

ALEXANDRIA, Va. — The NCUA Board unanimously approved a rule Thursday morning to eliminate the 5% cap on fixed assets.

American Express Co. Chief Executive Officer Kenneth I. Chenault defended company rules that bar merchants from asking customers to use cards with lower processing costs as a needed measure to protect its brand.

Target Corp., struggling to fix a botched expansion in Canada and undo the lingering damage of a holiday hacker attack, hired former PepsiCo Inc. executive Brian Cornell as chief executive officer.

The credit union trade associations scored some legislative victories Wednesday morning after the House Financial Services Committee passed several regulatory relief measures supported by both NAFCU and CUNA.

The Secure Remote Payment Council wants a more open process in the development of a standard for tokenization, with the goal of ensuring a single token can be handled by multiple parties to improve security.

With the increased proliferation and reliance on public cloud solutions, combined with the recent high-profile data breaches that have occurred in the past few months, cybersecurity should be a top concern for both issuers and retailers who handle sensitive financial data.

The Justice Department's legal case against American Express will not benefit consumers and will weaken competition, said Jeff Campbell, executive vice president and CFO of American Express.