Compliance

More than seven months after the EMV liability shift, the majority of U.S. retail locations still haven’t upgraded their payment terminals to accept chip cards, with some small and midsize businesses citing the difficulty of getting their equipment tested and certified by appropriate organizations.

National Credit Union Administration will form an internal working group to review its examination process, including the frequency of exams, says new Chairman Rick Metsger.

Small-scale financial services companies such as storefront lenders and local money transmitters which use technology should have a choice of whether they are regulated by a state or federal regime.

The Consumer Financial Protection Bureau has charged a Mississippi company with refusing to disclose check-cashing fees to consumers, deceptively pressuring borrowers into taking out multiple payday loans and keeping overpayments.

In the latest salvo in a long-running feud over the costs of processing payments, Wal-Mart Stores Inc. sued Visa Inc.’s U.S. unit on Tuesday, saying the company wants the retailer to use a less-secure method for verifying debit cards in order to route transactions through its own networks to boost profits.

Industry representatives swiftly rejected a call from the Treasury Department that new legislation is needed to protect small-business owners.

Wal-Mart Stores Inc. sued Visa Inc.’s U.S. unit, saying the company wants the retailer to use a less-secure method for verifying debit cards in order to route transactions through its own networks.

Hillary Clinton's campaign goes on the offensive against presumptive Republican nominee Donald Trump's financial policy positions, arguing he would put the financial system at risk if elected president.

The Treasury Department on Tuesday capped off a nearly yearlong inquiry into the burgeoning marketplace lending industry with a policy paper that recommends increased transparency and customer protections while also highlighting the sector's potential for expanding credit access.

State officials in California have asked top online lending firms a series of probing questions regarding their compliance with laws and regulations dealing with referral fees, bank partnerships, fair lending and other sensitive issues.