Compliance

PNC Financial Services Group Inc. received a subpoena regarding the return rate for its payment-processor clients from the U.S. Department of Justice and Consumer Financial Protection Bureau.

As U.S. issuers and financial institutions prepare for the shift to EMV, two significant benefits over traditional magnetic stripe cards are clear: increased security and reduced incidences of card fraud. However, the migration itself poses risks that must be addressed.

ARLINGTON, Va. — With the Consumer Financial Protection Bureau set to look into debt-collection practices, NAFCU issued a letter Friday urging the bureau to distinguish between credit unions collecting debts on their own behalf and third-party debt collectors.

WASHINGTON -- CUNA and NAFCU are asking NCUA to extend the comment period on the proposed risk-based capital rule another 90 days.

It is a fair question, but a deeply sensitive one around credit unions and their boards of directors: Are CUs doing enough to weed out older board members who have served for decades but lack the financial knowledge and experience to be effective?

Some governments are getting into the digital currency game, offering their own alternatives to cash with traits that differ in meaningful ways from cross-border cryptocurrencies like Bitcoin.

WASHINGTON -- If NCUA rethinks the proposed new capital rule's risk weights and allows CUs to access supplemental capital, the final rule would be much improved, says CUNA's chief economist.

Visa has developed a new service that aims to reduce prepaid card fraud.

Federal Reserve Board Chair Janet Yellen said today that the central bank does not have the power to supervise Bitcoin, the most widely-recognized digital currency.

The Royal Canadian Mint, which casts coins for the Canadian federal government, has started a pilot test of its MintChip digital currency. Through these tests, the Mint must make clear what this new currency is and what it is not.