Compliance

WASHINGTON — The Consumer Financial Protection Bureau has taken a cautious approach to its oversight of payday lenders so far, but is likely to issue new regulations covering the industry next year, according to several industry observers.

After clashing with regulators and being blacklisted by many banks and credit unions, many emerging-payments companies are seeking a warmer welcome outside the U.S.

SmartMetric Inc. says it is in the “advanced development” stages of a plastic payment card that will unlock through a fingerprint scan and operate as a digital wallet.

Fraud schemes that rely on social engineering and other attacks to steal sensitive information are especially dangerous this time of year, when the hustle and bustle of the holiday season may lead consumers to let their guard down and skimp on security.

ALEXANDRIA, Va. — NCUA issued three prohibition orders for November, banning the following individuals from participating in any federally insured financial institution:

Banks in Hong Kong have established standards for the creation of a Near Field Communication-based mobile payment infrastructure in the region.

Wearable identity and authentication startup Bionym released software development kit documentation and an online forum to get developers coding apps for its forthcoming wristband, called Nymi, on Monday.

The PCI Security Standards Council's hacker-inspired data mapping plans are crucial to protecting super-interconnected enterprise systems.

RICHMOND, Texas — The National Association of CUSOs said it was cautiously optimistic about the revised CUSO rule NCUA handed down at its November meeting but continues to be concerned about potential "scope creep" in the future.

Rather than simply continuing to absorb the losses from account takeover attacks, institutions should be reevaluating the effectiveness of their authentication methods and increase security to better prevent fraud.