Compliance

Under the terms of the rule, NCUA could exempt credit unions from some Bank Secrecy Act requirements on a case-by-case basis, provided there are no safety or soundness concerns.

Rapidly spreading coronavirus and an unclear Brexit outcome are bearing down on the U.K., leaving the fate of London as a technology and finance hub in the air as 2020 draws to a close.

Congress’s passage of a measure requiring startup companies — instead of their banks — to identify true owners was arguably the industry’s biggest legislative achievement in 2020. Now the industry is urging lawmakers to revisit proposals that would ease other anti-money-laundering reporting requirements.

When Mastercard and Visa cut ties with Pornhub in December, it was abrupt but unsurprising. The banking and payments industries have had a long and conflicted history with adult content.

The spending plan passed in a party-line vote, but board member Todd Harper's objections indicate he could push for closer oversight if President-elect Joe Biden elevates him to the chairmanship.

When Mastercard and Visa cut ties with Pornhub in December, it was abrupt but unsurprising. The banking and payments industries have had a long and conflicted history with adult content.

Credit union trade groups said the regulator’s spending plan indicates the agency isn't listening to feedback and needs to make further cuts while providing more support for de novos.

Two large deals happened this week in Australia to build scale against international financial services encroachment from card schemes and cross-border financial services — a concern that's cropping up in several nations.

Ride-sharing apps always seem to be racing to be something else — or at least something more — especially given the coronavirus pandemic's impact on travel. With a banking license in Singapore, Grab can add fuel to the strategy.

The company’s noninterest expenses are expected to rise more than $500 million next year, largely because of a revamp of risk management and internal controls mandated by regulators.

Ant Group Co. and a venture led by Grab Holdings Ltd. won licenses to run digital banks in Singapore, paving the way for the technology giants to expand their financial services in the Southeast Asian hub.

Apple Inc. phones face scrutiny from Dutch antitrust regulators who are probing whether users get a free choice of financial apps with contactless payments.

The Accredited Standards Committee X9 is forming a group to study faster and real-time payments activity in the financial industry and eventually recommend new X9 standards and upgrades that would enhance interoperability and adoption.

Visa insists that the Department of Justice, in objecting to its proposed $5.3 billion purchase of Plaid, fundamentally misunderstands the changing role of data in the payments industry.

The agency finalized a policy allowing companies to submit formal requests for clarification on a regulatory issue. The bureau said it will publish the advisory rulings in the Federal Register.

India banned another 43 Chinese apps including some of Alibaba Group Holding Ltd.’s key shopping services, expanding its mobile blacklist to more than 200 applications.

The credit union regulator's November board meeting covered a variety of issues, including the voluntary self-assessment, disagreements on the budget proposal and the possibility of new insurance premiums in 2021.

Among the core changes in the regulation, more national banks will be able to use the agency's expedited review process to approve certain corporate transactions.

Credit unions will have their first opportunity to hear from the federal regulator about its recently released budget proposal and also get an update on the agency's diversity self-assessment.

President-elect Joe Biden’s victory has cleared uncertainty over White House policies that impact fintechs and payment firms, revealing clues as to how the regulatory environment will be different in 2021.