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Daily edition for November 03, 2020.

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.

A prosperous decade leading up to the pandemic had left lenders in good shape, but they're worried the economic shock to the state's most vital industry could linger into 2022.

Reflecting the rapid transition to digital payments, PayPal has reported its strongest growth in total payment volume and revenue in its history, coupled with strong growth for Venmo, its P2P app.

The departure of Brad Hu at the end of the year opens the door for Citi’s soon-to-be CEO Jane Fraser to hire someone new to oversee the bank’s massive risk systems overhaul.

Jane Allerman-Rey, the mutual's chief operating officer, will take on the new role in January.

Haegelin spent several decades in the credit union movement, including helping found the nonprofit Credit Unions for Kids.

Customers say the Beam savings app is down and the company isn't returning their money. The situation is putting third parties like Huntington and Dwolla in the firing line, though they say they're not at fault.

Aissatou Barry-Fall, a 30-year veteran of the credit union, has been promoted to chief executive.

Kleber Santos will be responsible for building a more inclusive workforce and designing products that meet the needs of a broader, more diverse range of customers.

Payment rates for auto lenders and credit card issuers have remained strong despite a spike in unemployment. Whether these trends continue into 2021 will depend largely on the actions of Congress and the pace of medical advances.

On Jun. 30, 2020. Dollars in thousands.

On Jun. 30, 2020. Dollars in thousands.

On Jun. 30, 2020. Dollars in thousands.

A Democratic victory in Tuesday's election would likely produce new leaders at the CFPB and OCC who could take bank regulation in a sharply different direction. Here are some names potentially under consideration.

Refinitiv, a global risk intelligence firm, has agreed to buy Giact, a company founded by a brother-and-sister team in Allen, Texas, in 2004 to enhance payment fraud protection and identity verification for banks and corporations.

Members of Niagara Mohawk Power Corp. Troy Employees Federal Credit Union recently voted to merge with Albany-based CAP COM.

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.

Myra Toeppe, who had been serving as acting director since January, will take on that role permanently.

Credit is tightening to 2008 levels at a time when small businesses need help the most, former SBA chief Karen Gordon Mills says.