Compliance

Everything's in place for mobile payments to supplant plastic cards in the U.S. — except for a compelling reason for the transition.

Despite legal cannabis category's regulatory complexity — or perhaps motivated by it — a new breed of merchant acquirers is slicing through the thick government red tape to process cannabis payments, one state at a time.

The advent of Faster Payments services plus Europe’s PSD2 have heightened concerns among banks about increased fraud risks. This has created opportunities for firms such as New York/Israel’s BioCatch and San Francisco’s BehavioSec, both of which develop technology around behavioral biometrics analysis.

State Treasurer John Chiang says that Wells Fargo is keeping patterns of abuse hidden from view by resolving customer disputes through private arbitration.

A more open approach to banking will bring major changes, with quality data on banking services and IT security now becoming a significant factor for consumers in selecting a provider.

Since his 2016 campaign, Donald Trump has loomed over the international payments system with a series of threats that are proving increasingly empty.

The Troy, Mich., company is operating unfettered by regulatory orders for the first time in a decade, and its CEO says Flagstar now has the flexibility to pull the trigger faster on deals and accelerate its diversification beyond mortgages.

At the recent CU Leadership Conference in Las Vegas, credit union representatives offered their ideas for the next round of reg relief.

Seven months have passed since the U.K.’s biggest banks were mandated to release open APIs for their customers’ account information under open banking and European Union PSD2 regulation. The process was completed by mid-April, but it fell short of creating a truly open system for data sharing.

Bank of America and several other large U.S. financial services companies, as part an effort organized by the Thomson Reuters Foundation and Western Union, have published resources to help smaller banks spot signs of forced labor and kidnapping.