Compliance

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.

The company also said it believes there are no regulatory obstacles that will derail its planned acquisition of Astoria Financial.

In an attempt to show it went all out to help struggling homeowners, the embattled mortgage servicer Ocwen Financial provided an unusual level of detail about foreclosures it says regulators have deemed "inappropriate."

Second settlement of the week pushes recoveries by the regulator from MBS suits to $5.1 billion.

Regulator now has recovered nearly $4.8 billion in various suits related to the mortgage meltdown in 2008.

Money laundering in Latin America is said to be worsening and a corruption probe in Brazil adds to the worries, but Latin American banks are fighting hard to preserve business with U.S. banks.

The beneficial ownership regulation, meant to catch financial criminals, has produced data that is useful in making small-business loans, LexisNexis Risk Solutions says.

In working with correspondent banks in developing countries for more than two decades, INTL FCStone Ltd. spent a fair amount of time collecting market information over the phone and through e-mail from those banks to share with others. It ultimately determined there was a better way to do this.

Sweeping new data-sharing rules require a substantial IT revamp at large financial institutions.

Banking is not a “static” business, and must be allowed to evolve, Comptroller of the Currency Thomas Curry said Friday.

Europe's Payment Services Directive, or PSD2, has almost everything a technology vendor would want. It affects an entire continent, and it involves both sweeping new data requirements and a substantial IT revamp for large financial institutions.

As marijuana legalization spreads throughout the U.S. and the world, companies in the cannabis market must navigate a delicate tangle of new and old regulations. And many payment providers are unwilling to risk working with dispensaries, leading to some inventive workarounds.

Payments and liquidity management provider Dovetail wants to make sure banks in the euro zone have the systems in place to allow business customers to take advantage of new options for sending and receiving payments later this year.

South Korea is already at the forefront of digital payments as home to Samsung Pay, and this week the country will begin discouraging the use of coins in stores.

E-commerce can bring many efficiencies to a retailer's operations, but in the legalized cannabis industry, payments must still be handled offline.

U.S. Rep. Rod Blum spent a day at Dupaco Community CU's Sycamore branch, working the teller line, using the cash dispenser and learning more about the credit union movement.

Jack Ma’s Ant Financial Services Group has deep enough pockets to win the bidding war against Euronet Worldwide for MoneyGram, but money may not be the deciding factor in this deal.