Compliance

A new joint venture with Gas Station TV will help Verifone Systems Inc. expand its services in the coming year, providing more exposure for the terminal manufacturer's merchant clients and a stronger media service for its petroleum clients. In addition, Verifone will expand its role as a software provider.

A number of small banks have disclosed material weaknesses in loan-loss accounting and other procedures. Reasons vary, but a common thread appears to be that accounting firms are facing pressure to beef up their scrutiny of internal controls in financial services.

Users of virtual currencies like bitcoin are backing an industry group to oppose tax authorities’ efforts to collect detailed information about the customers of a popular digital currency exchange.

A trade group owned by the nation's largest banks wants Congress to require state governments to collect information about the true ownership of the companies they incorporate. Such a law could reduce the banking industry’s cost of complying with anti-money-laundering rules.

Connected devices are expanding quickly, as are payment apps. The combination may make following commerce and security mandates harder in the future.

The San Francisco bank also disclosed Wednesday that certain foreign banks that were using its software to conduct trade-related transactions in violation of U.S. sanctions.

Ellen Ford and Robert Miller have been names as members of the Federal Reserve Bank of Boston's First District Comunity Depository Institutions Advisory Council.

Lost in the battle between banks and retailers — which is being fought with renewed vigor in the early days of the Trump administration — is any consideration of how caps on interchange fees have affected consumer spending patterns.

CFPB overreach continues to negatively impact credit unions, who are being punished for behaviors they never engaged in. The easiest way to provide regulatory relief for CUs is to finally exempt the movement from all CFPB oversight.

At its February meeting, the NCUA Board approved a routine measure to reauthorize an 18% interest rate cap on loans, but suggested that it’s time for Congress to make some changes.

In honor of President’s Day, credit union chief executives offer their thoughts on the new commander-in-chief’s performance so far.

The mortgage servicer will pay at least $25 million in cash and provide some $200 million in debt relief to borrowers to resolve a range of alleged violations. But Ocwen will also be allowed to resume acquiring servicing rights in the nation's largest state.

Many customers at Neighborhood National Bank in San Diego offer check-cashing services that draw attention for Bank Secrecy Act compliance.

Ousted CEO John Dee Carruth is continuing his war of words against the state regulator, but he may not have much recourse under a provision of Alabama law.

The financial industry has been bracing for the Trump administration’s planned revisions to Dodd-Frank, but banks are taking aim at another, potentially even more consequential regulatory framework: the rules and procedures around curbing money laundering and financial support of terrorism.

The Consumer Financial Protection Bureau is seeking feedback on the benefits and risks of using alternative data sources, such as rent or utility payments, that would allow lenders to build a credit history for unbanked consumers.

Once again profitable, the Tuscaloosa-based institution has been released from conservatorship.

Some fintech firms are flatly rejecting the Office of the Comptroller of the Currency's creation of a charter for such firms, citing fears that it will come with too many strings attached.

Chief executives at the biggest U.S. regional banks are asking U.S. lawmakers to consider easing capital requirements and repealing part of the Dodd-Frank financial overhaul that caps fees banks charge retailers on debit-card transactions.

The group of Australian banks that want to collectively bargain with Apple over terms of its Apple Pay app have sharpened their focus to an area the technology giant is likely to defend fiercely.