Re:
The problem with PCI is that its focus is on protecting acquirer and issuer cardholder data when outside any merchant it is so easy to skim a card or steal cardholder data and then commit fraud.
The real problem is that we are still using magnetic stripes, an obsolete card technology for conducting monetary transactions. We need to move into newer, more secure technologies such as using SIM cards in phones.
Alvaro Lacayo
Credomatic
Federal Reserve Gov. Lisa Cook said in a speech Wednesday night that the central bank's credibility depends on its ability to bring inflation back to its 2% target.
The Spanish banking giant is accelerating its U.S. growth plans with the pending acquisition of Webster Financial in Connecticut. The combined entity will be the second-largest foreign-owned bank operating in the country.
The latest directive, which takes effect in March, allows only U.S. citizens and nationals to seek government-guaranteed financing. It's drawing criticism from Democrats in Congress, small-business advocates and some lenders.
Prosecutors allege Curtis Weston and a bank insider used fraudulent loans to fund stock market trades, leaving the bank with $20 million in losses.
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The payment company opened a new office in Dublin to battle rivals like Adyen, Stripe and PayPal.
