Compliance

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.

ALEXANDRIA, Va. — NCUA approved a final rule on capital planning and stress testing at its open board meeting Thursday that contained some changes — but maybe not enough to satisfy credit unions.

As state regulators take more interest in Bitcoin, third-party vendors are looking to apply the expertise they built in other markets to digital currency. One such vendor, Strevus, has a background in securitization, which is another volatile and risky market.

Being influential in the payments industry isn't just about positions or titles; it's about driving the course of business while also setting an example for others to follow in their careers and personal lives.

Quick Fuel, a provider of fueling solutions for commercial fleets and other U.S. businesses, has partnered with payments processor Comdata in an attempt to speed fueling and boost security.

Samsung Electronics Ltd. and semiconductor designer ARM have joined the FIDO (Fast IDentity Online) Alliance board of directors.

Chip-testing provider Fime America has developed an EMV chip migration consulting package designed for the U.S. payments industry, which is migrating to the EMV standards.

ARLINGTON, Va. — With NCUA expected to impose a final rule on stress testing at Thursday's board meeting, NAFCU, once again, is telling the agency its proposal should be reconsidered.