Compliance

Ellen Richey has become the new chief legal officer at Visa, where she will be responsible for legal functions as well as oversight of the card network's compliance and audit teams.

Retailer Target Corp. is investigating a massive data breach that may have affected the card data of millions of bank customers, according to security blogger Brian Krebs. The breach of credit and debit card records is said to have begun on or around Black Friday 2013, the day after Thanksgiving.

ALEXANDRIA, Va. -- NCUA issued a draft version of its strategic plan for the 2014-17 that included a set of priorities the agency hopes to achieve during that time.

The spread of Bitcoins is now prompting regulators in Scandinavia to draft new rules in an effort to prevent virtual money from slipping into a legal gray zone.

WASHINGTON -- NCUA is collaborating with the federal bank regulators in a 10-year review of rules, the Government Accountability Office said in report.

MasterCard is tightening the screws around the use of prepaid cards as a way to pay employees. Some issuers will find its demands are straightforward and achievable; others may consider discontinuing the product.

As payment companies add more mobile applications to accept transactions and speed processing, authentication will become more complex, says Todd Wilkinson, CEO of Datacard, which plans to bolster its identity technology for government and financial services clients via its acquisition of Entrust.

Discover Financial Services has begun testing a mobile payment system using biometric technology at its Riverwoods, Ill., headquarters.

Discover Financial Services has joined the Fast Identity Online Alliance, or FIDO, a group of companies working to develop new standards for online authentication.

Online bill pay technology developed with small business users in mind is lacking. But new offerings could provide companies with greater functionality, while also helping financial institutions reduce risk and build stronger customer relationships.