Compliance

Federal district court in Virginia finds plaintiff had so standing to sue – again.

Groups representing banks, credit unions, the housing industry and others argue in favor of a bill requiring the CFPB to issue timely guidance on its rules.

Cross-border payments firm Payoneer is seeing growth in Asia from local marketplaces, digital platforms, and merchants selling internationally. It is also benefiting from a rise in payments from India to foreign marketplaces and contractors.

Acting CFPB Director Mick Mulvaney held a roundtable with credit union leaders from the plains states, including discussions of how the bureau would seek input form CUs now that its advisory boards have been shuttered.

With increasing numbers of alternative providers gaining licenses to provide payment services aimed specifically at businesses, Beck predicts the pressure on the banks to offer faster and cheaper services is going to substantially increase.

The Patriot Act, for example, requires all U.S. businesses to comply with regulations issued by the Office of Foreign Assets Control. Those that fail to comply, knowingly or inadvertently, are susceptible to significant fines and even legal action, writes Peter Shore, general manager of Transpay.

Circle Internet Financial Ltd., one of the world’s most valuable cryptocurrency platforms, is looking to make a big leap into the highly regulated realm of U.S. banks and brokerages.

Visa's management faces an unwelcome choice: It can share more information about internal shortcomings or mistakes that caused payments to shut off temporarily, or get summoned to Parliament for a politically-infused public questioning.

The Atlanta bank had previously failed compliance metrics in five straight quarters before passing them last year, according to the settlement's monitor.

The European Union’s General Data Protection Regulation could serve as groundwork for future U.S. rules, so analysts suggest credit unions at least begin working toward compliance.

Trade association combines with state leagues to defend credit unions against ‘predatory’ suits.

What advantages will this new system bring to the U.K. payments market? The U.K. has traditionally struggled to find ways to break the major banks’ monopoly on payments.

To improve bank oversight, policymakers should eliminate overly complex rules in favor of principles-based regulation.

As more small to medium-sized businesses look to international e-commerce markets to boost sales, differences in tax laws can cause complications for sellers—and an opportunity for payment gateway companies offering workarounds.

There are forward-looking regulations that govern the landscape of how personal data gets collected, processed, analyzed, stored, retained, monetized, and accessed by any organization that collects data in the EU. Its goal is the protection of individual privacy and will require a multi-year strategy, according to Bassim Alkhafaji, a partner at Andra Capital.

Payment gateway provider Pelican Group has launched PelicanPay, a new unit of the company, to focus on providing European-wide Payment Services Directive connectivity, payments and financial crime compliance services.

Heartland Payment Systems LLC sued its former top executive, Robert Carr, claiming he used his girlfriend to trade on inside information.

Bittrex Inc., a Seattle-based cryptocurrency exchange that lets users swap nearly 200 different digital coins, said it forged banking agreements that will allow some customers to trade in U.S. dollars.

Speaking at an industry conference Thursday, Wells Fargo CEO Tim Sloan left open the possibility that employees intentionally falsified important regulatory documents.

There’s renewed focus on the relative importance that capital and liquidity should play in regulation, but the discussion misses another measure that should rank higher in bank evaluations.