Compliance

The debit networks and card brands have largely resolved two years of debate over routing EMV debit cards, but an ongoing court battle over debit fees and routing makes the full scope of their responsibilities unclear.

The U.S. is roughly two years into its migration to chip payments, but in the last few months I have seen the tide turn and this migration start to really pick up speed. But before I talk about where we are now, it’s important to understand where we have been and how we have arrived here.

SMP Bank OOO and InvestCapitalBank OAO, lenders controlled by associates of Russian President Vladimir Putin, were sanctioned by the U.S. as political tension over Ukraine escalates.

The Justice Department is grabbing the spotlight with Operation Choke Point, a controversial investigation that's drawing U.S. banks deeper into the fight against consumer fraud. But below the radar, another federal agency is tiptoeing in the same direction, and again drawing stiff opposition from the banking industry.

BTC China halted local-currency deposits to clients' China Merchants Bank Co. accounts, as lenders close accounts with Bitcoin exchanges amid government measures to check surging trading in the virtual currency.

WASHINGTON — CUNA and NAFCU recently asked NCUA — for a second time — to extend the comment period on the proposed risk-based capital rule another 90 days, and once again the agency said no.

Swift, the financial messaging service, has launched a new version of its Bankers World Online directory, which includes added information to aid international payments.

ALEXANDRIA, Va. — In casting the lone vote Thursday against passing the final rule on capital planning and stress testing, NCUA Board Member Michael Fryzel held some of the same concerns voiced by credit unions and the CU trade associations about the proposal.

According to the Millennial Disruption Index, millennials believe payments innovation will come from outside their bank, with nearly half showing more confidence in what startups and technology companies add to payments than what their banks do. This presents a challenge and an opportunity for financial institutions moving forward.

Russia is very much on the minds of Visa executives as they wait to see what effect the ongoing political standoff with the U.S. over the situation in Ukraine will mean for payments in Eastern Europe.