Compliance

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.

NCUA cites safety and soundness concerns at the $107 million-asset credit union.

Despite some mixed signals, the Chinese government has shown a willingness to loosen restrictions on imports. That would be good news for international payments players.

Finra now has punished just one person associated with JPMorgan's admitted nationwide fiduciary violation of its clients: a whistleblower.

The deal had been held up by U.K. regulators over concerns about competitive balance.

Reader reactions to criticism of Jamie Dimon, the House GOP ganging up on Richard Cordray, a bank's decision to part with Excel to measure credit losses, and more.

China-based Ant Financial is preparing to fight for MoneyGram despite a rival bid from Euronet Worldwide, based on signals the company sent today in an open letter to the money-transfer company’s management, employees and customers.

Such reinstatements are unusual, and could signal a more aggressive approach by the government to protecting whistleblowers in the financial services sector.

The New York Credit Union Association hailed the rule change for increasing parity with other institutions in the state.

Although the Dodd-Frank Act made some positive changes, the weight of its regulations is killing small banks, Bank of America CEO Brian Moynihan said Tuesday.

American Express Co. must produce information to U.S. tax authorities seeking the identities of Dutch residents with debit or credit cards linked to bank accounts outside the Netherlands.