Compliance

The payments industry is getting pulled in two directions, as technology and e-commerce promise a borderless future for transactions while political forces apply the brakes.

If acting CFPB Director Mick Mulvaney ultimately prevails in the lawsuit challenging his position, he is expected to continue implementing the most significant changes to the agency in its six-year history.

It will pay $11.5 million to resolve Finra claims that a brokerage unit displayed inaccurate research ratings for hundreds of securities for nearly five years.

The South Korea Financial Services Commission has acted on its concern that the growing popularity and speculation in bitcoin and other cryptocurrencies would become dangerous.

China's central bank has put the brakes on mobile and e-commerce payment schemes in the past, mostly from the standpoint of having a wary eye on third-party players elbowing their way into financial services.

China's Ant Financial Group, the company behind Alipay, was among eight companies that EMV standards governing body EMVCo has named as technical associates to its secure-payment consortium.

The Consumer Financial Protection Bureau on Wednesday launched a rate spread calculator and validation tool for financial companies reporting Home Mortgage Disclosure Act data starting Jan. 1.

Was the president’s recent tweet about enforcement measures against Wells Fargo an articulation of the administration’s approach for holding banks and executives accountable? Or is a tweet just a tweet?

For all of the noise in the payments industry around transitioning to real-time and same-day digital payments — and in the mainstream media around the bitcoin craze — paper checks still persist as the preferred means of disbursement for the majority of business-to-business transactions.

Russia will get a countrywide biometric database for financial services starting next summer, the central bank said.