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.

MoneyGram has purchased Advanced ChronoCash Services (ACCS) and signed an agreement to acquire MoneyGlobe Payment Institution, both Athens, Greece-based money transfer companies.

Just hours after agreeing to pay $910 million in regulatory fines related to the London Whale trading scandal, JPMorgan Chase agreed Thursday to repay $309 million in restitution to customers harmed by its credit card practices as well as face an additional $80 million more in civil money penalties.

Many banks consider money transmission to Somalia too risky because of concerns about terrorism. But U.S. Bancorp continues to pursue a relationship with Dahabshiil, the largest Somali money transmitter, whereas Barclays dropped the business citing the risk.

The Bitcoin Foundation, a trade group, is urging the Federal Election Commission (FEC) to allow bitcoins to be used for federal political contributions.

COEUR D’ALENE, Idaho – NCUA said today its Office of National Examinations and Supervision is drafting a proposed rule to require annual stress tests at credit unions with assets exceeding $10 billion.

Southwestern Advantage, a multi-level marketing company with a model similar to Avon or Amway, relies on college students to sell its educational materials — raising potential risk issues as a young and inexperienced sales force is tasked with protecting payment details.

Columbus Data Services, an ATM processor, has completed MasterCard end-to-end certification for all Triton ATM products. As a result, CDS is now processing transactions that comply with the EMV-chip card standard on MasterCard networks.