Compliance

SecureKey is developing new payments technology that will allow consumers to use their mobile devices to enable fast authentication at the point of sale.

As payments technology evolves, some are urging the Federal Reserve Board to take a leadership role in establishing guidelines and standards — whereas others are quick to argue against the notion.

Visa Inc. and MasterCard Inc. won a tentative court ruling they don’t infringe a patent owned by SmartMetric Inc., a technology development company that seeks $13.4 billion in damages.

WASHINGTON – NCUA and the banking regulators on Tuesday issued a new directive saying if credit unions or banks suspect financial exploitation of one of their elderly members/customers they can report the suspected abuse without violating the consumer’s privacy under Gramm-Leach-Bliley.

Nacha, the electronic payments association, is advocating security as a reason to adopt faster processing — a move that would require a change in the association's rules that has thus far proven elusive.

U.S. banks and merchants face many obstacles in preparing for EMV chip-based cards at the point of sale — and the Web is no less reluctant to change.

Few people ever sympathize or even empathize with federal and state regulators when it comes to compliance.

In addition to NCUA's proposal to stress test large credit unions, the agency is also rolling out new initiatives related to investigating fraud.

The U.S. Federal Reserve’s rules for debit-card transaction fees and processing will remain in place while the central bank appeals a decision throwing out the regulations, a judge said.

Groupon Inc. lost a bid for dismissal of a lawsuit complaining the company misled investors about its financial performance before its initial public offering in November 2011.