Compliance

Total System Services' prepaid unit, Netspend, will pay consumers who bought its cards up to $53 million to resolve a Federal Trade Commission suit alleging that the company misled consumers about accessing funds.

There's been a lot of funding flowing into technology that targets the spending of Chinese travelers as they visit other countries. But this narrow use case isn't the only opportunity for investment and innovation.

Chinese billionaire Jack Ma’s latest U.S. expansion plan is facing rising political obstacles.

Nearly 40 current and former congressional Democrats — including the namesakes of the Dodd-Frank Act — challenged the notion that Congress may not dictate the organization of federal agencies.

Merchants storing and batch processing payments offline in the U.K. are opening the door for fraudsters to potentially use contactless cards that have been reported lost or stolen for several months after a bank cancels them.

Australia's government says the country's large banks cannot collectively bargain with Apple over terms of support for Apple Pay, ending a public battle between Apple and the banks that has lasted at least a year.

The subprime auto lender funded loans through a group of car dealers that it knew had track records of high default rates and fraud, authorities in Massachusetts and Delaware said.

If the European Commission's revamped Payment Services Directive had a goal of enticing more innovation and, thus, more startups to enter financial services, Modulr Finance Ltd. CEO Myles Stephenson got the message.

The U.S. Supreme Court ordered closer scrutiny of a New York law that bars merchants from imposing surcharges on credit card purchases, giving a group of retailers a partial victory by saying the measure might violate their free-speech rights.

The settlement, which requires judicial approval, will cover customers' fees and other costs related to about 2 million unauthorized accounts.

Ocwen Financial is a step closer to the day when it can resume purchases of mortgage servicing rights.

Large merchants are re-energized in their conflict with Visa and Mastercard on the issue of swipe-fee costs, following the U.S. Supreme Court’s refusal to reinstate a class-action settlement that deeply divided many of the plaintiffs.

The U.S. Supreme Court refused to revive a $5.7 billion settlement of retailer claims that Visa and Mastercard improperly fixed credit card swipe fees, in a rebuff that could mean years of additional litigation.

Mastercard has hired Sandra Arkell as its new executive vice president, corporate controller and principal accounting officer.

Banks are asking Hong Kong property agents to stop accepting China-issued UnionPay cards, as mainland authorities escalate their crackdown on capital flows out of the country.

The regulator said that Santander has not made sufficient progress in complying with a 2015 enforcement order.

Card issuers are sounding the alarm about the Consumer Financial Protection Bureau's final prepaid rule, claiming that without fixes the agency has opened the door to potential fraud on unregistered cards.

Coinbase has received approval from the New York State Department of Financial Services to offer trading of the digital currency ether, along with other products.

David Cotney, former Massachusetts banking commissioner, will guide compliance for the New Jersey bank, a critical partner for many fintech startups.

When acquiring a payments company, there are numerous federal rules that have to be followed. As the environment gets more complex, here's how to stay compliant.