Compliance

The online small-business lender has also announced the hiring of a new U.S. head of capital markets.

Payment companies have lots of emerging regulations. Regtech can bring together different stakeholders to ease compliance.

Financial firms say the database is unreliable and would like to see it removed from public view. But the industry would also lose access to competitive insights that can be gleaned from the massive trove of consumer complaints.

The third conservatorship in as many business days, the $236 million CU is the latest to fall prey to taxi medallion loan problems.

The $201 million-asset CU has seen delinquencies rise from just $1.2 million at the end of 2015 to nearly $11 million at the end of March 2017.

A proposal on the agency’s overhead transfer rate would simplify how state- and federally chartered CUs pay for examinations by evenly splitting the costs of safety-and-soundness and insurance-related concerns.

Compliance, security and data analytics were the themes at this year’s New York FinTech Innovation Lab demo day.

Regulators cited "unsafe and unsound" practices at the credit union, which has assets of more than $76 million and turned a small profit in each of the last two years.

The message to banks is loud and clear: A vendor’s mistake is your mistake. You can outsource a function, but not the responsibility for mishaps.

While Morgan Stanley is high on the blockchain technology that underpins bitcoin, analysts at the investment bank are a bit more cautious when it comes to the surge in the price of the virtual currency.

IBM is set to announce new tools on Wednesday aimed at reducing the compliance burden of financial institutions and sifting through the mounds of data they collect by using Watson, its cognitive computer.

Digital banking services should solve consumers' problems and offer them advice, and they must rely on artificial intelligence and other cutting-edge technology, bankers from TD, RBC and Bank of the West said.

The legal marijuana market has had difficulty establishing banking relationships, given the disparities in local and federal regulation of cannabis sales. SinglePoint Inc. is developing a bitcoin-based option to address this concern.

The bank agreed to improve anti-laundering controls deemed "unsafe" by the Fed, including oversight of so-called mirror trades that may have helped foreign customers hide large sums of money.

Big-box retailers have beat back banks’ latest attempt to kill a legislative provision that has cost lenders billions of dollars in lost revenue. Known as the Durbin Amendment, the measure was included in the 2010 Dodd-Frank Act to limit how much money banks can charge retailers when consumers use their debit cards.

Of those penalized, 11 had assets of less than $10 million and only one had assets of more than $250 million.

Target Corp. agreed to pay $18.5 million to settle state lawsuits over a 2013 hack of its database when the personal information of millions of customers was stolen, according to New York Attorney General Eric Schneiderman.

Apple Inc. and Visa Inc. are facing claims by Universal Secure Registry, a small Boston-area company, that their mobile-payment partnership infringes four of its patents.

The U.K.’s Payment Systems Regulator is escalating its inquiry into the role banks play in preventing money-transfer scams where consumers are tricked into sending funds to fraudsters.

U.S. payment companies frustrated by Chinese regulations blocking direct access to its vast consumer market could get a break under the terms of a new U.S.-China trade deal.