Compliance

Retail and financial services trade groups have launched a new partnership aimed at improving cybersecurity across both industries.

The new fines for late call reports at NCUA and the need for CUs to not shy away from mortgages in light of the CFPB's qualified mortgage rule were among the hot topics during a joint conference call featuring NCUA Chairman Debbie Matz and CFPB Director Richard Cordray late Wednesday.

ARLINGTON, Va. -- While the credit union community sees NCUA's new risk-based capital calculator as valuable, some question whether making the tool accessible to the public is the right move. Concerns exist over letting consumers see preliminary ratios, in advance of a final rule, particularly for CUs whose risk-based number is below well capitalized.

The payment system is unexpectedly the center of attention in the financial services policy world after spending years being overshadowed by the financial crisis and other pressing issues.

ARLINGTON, Va. -- NCUA's proposed risk-based capital rule will force CUs with more than $50 million in assets to hold an extra $6.3 billion in reserves to achieve the same capital cushion they have today, NAFCU reports.

MoneyGram plans to restructure its executive lineup and other aspects of its organization as it works to expand consumer-facing services and manage its investments in anti-fraud and compliance programs.

The recent retail data breaches are drawing attention to instant card issuance as a way to repair consumer relationships.

Visa Inc. Chief Executive Officer Charlie Scharf said China isn't opening as quickly as expected to foreign payment processors and must be viewed as a five- to 15-year opportunity.

The Russian government has outlawed the use of Bitcoin.

Facebook Connect, which lets Internet users log into other websites by typing their Facebook credentials, seems to be everywhere. But perhaps it should not be in mobile payments, SCVNGR's LevelUp has decided.