Compliance

The U.S. Justice Department sued to block Visa’s $5.3 billion deal for the data aggregator over concerns that it would harm competition in the global payments market.

One area of certainty in the 2020 election is the momentum for legalizing cannabis, as a string of ballot box victories makes it harder for banks to avoid working with dispensaries and other legal marijuana businesses.

Despite tougher privacy regulations, further safeguards are needed that require consumers' clear consent before personal information is exchanged.

Atlanta-based Bluefin has won $25 million in funding to develop new services and expand its reach.

The company said one of its regulators may impose a civil money penalty related to compliance deficiencies in its advisory business and other areas. The matter echoes a recent fine imposed on Citigroup, one expert says.

In a major break from the Payment Card Industry security standards playbook, merchants and service providers using newer technologies would have the opportunity to rewrite network operation and testing procedures when achieving compliance.

Good communication is integral to facilitating collaboration between departments and offering a reminder that security is not achieved solely within the IT department; rather, it is a team effort, says KnowBe4's Javvad Malik.

As the pandemic and economic downturn take their toll on consumer spending, the card companies are relying on scale, partnerships and subsidiaries to turn consulting, security and fast technology deployment into new and sustainable revenue streams.

Mastercard has rolled out a set of AI-powered tools to thwart fraud and data breaches across banks' ecosystems, particularly to benefit acquirers’ online merchants.

The CrossState Credit Union Association continues to work with lawmakers in neighboring New Jersey to get similar legislation passed there.