Compliance

PayPal wants to clear the way for its users to buy, sell, hold — and shop with — cryptocurrency, but some obstacles may prove costly to overcome.

Visa’s $5.3 billion acquisition of Plaid has raised competition concerns at the U.S. Justice Department, which is nearing a decision about whether to sue to block the deal, according to two people familiar with the matter.

Less than a year after Curve launched its cross-border P2P service to solidify its mobile banking app, the London-based company says it is expanding into Lithuania to establish a post-Brexit European base.

The 2020 election could draw the most voters in history, along with a record haul for campaign contributions, with fundraising thus far favoring Democratic candidates both generally and in the finance and technology industries, which cover most financial institutions and payment firms.

Compliance can't be a bolt-on solution. It's critical to build it in from the start, across your people, technology and partnerships, says Hummingbird's Joe Robinson.

USAA Federal Savings Bank’s downgrade shows how customer mistreatment stemming from flaws in internal controls can hurt Community Reinvestment Act scores. Some want consumer compliance to carry more weight in the CRA calculus.

PayPal isn’t the first company to open its platform to cryptocurrencies, but its technique is more hands-on than most payment providers.

Gary Cohn, former head of the Trump administration’s National Economic Council and onetime top executive at Goldman Sachs, says technological changes will continue to make it harder for smaller financial institutions to compete and force many to be sold.

With the U.K. careening toward a no-deal Brexit in the midst of a health crisis and economic downturn, the government is suggesting a breakup with the EU could defray the costs of cash usage and access.

The $85 million penalty and the bank's "needs to improve" rating on its Community Reinvestment Act exam were tied to alleged violations of the Military Lending Act and Servicemembers Civil Relief Act.

CEO Charlie Scharf disappointed investors by failing to provide either a detailed road map for long-term expense reductions or say when he might release such a plan.

Riding a technology wave that helps attract more customers and generate more revenue sounds appealing enough — but with contactless payments, there isn't always a clear upgrade path for stores that have relied on older terminals.

Examiners are skilled at spotting trouble but often do too little to correct it, as the latest revelations about Citi once again show. Prompt supervisory intervention is essential to protecting the integrity of the financial system.

CEO Michael Corbat and CFO Mark Mason dodged questions from analysts about how much time and money Citigroup expects to spend to address recent enforcement actions.

Payments provider B4B Payments has been authorized to become an e-money institution in the U.K., and is seeking a license in Lithuania so the company can advance its prepaid card business throughout Europe.

EMV specifications body EMVCo has started a pilot program to evaluate consumer mobile devices for contactless payment acceptance, enabling vendors to have smartphones and tablets evaluated for possible use by merchants to accept payments without attached card readers.

Compliance startup Shujinko is launching software designed to automate the cloud security compliance process for businesses, saying it makes the security audit far simpler and faster for businesses.

The agency had raised concerns in the Obama administration about kickbacks in the marketing pacts between mortgage lenders and other providers, but the agency's recent guidance says the deals are legally viable.

The company's mistaken payment to Revlon creditors and other lapses are said to have contributed to Citi's recent leadership shake-up. On Wednesday, the OCC and Fed ordered the company to fix its risk management problems.

Longtime finance entrepreneur Jackie Reses, who led Square Capital for the last five years, is leaving the company at the end of the month. Square has not yet named a successor.