Compliance

The agency's Semiannual Risk Perspective pinpointed compliance and operational risk as potential problems for big banks while it outlined a different set of challenges for midsize and community banks.

A new version of Point-to-Point Encryption (P2PE) guidelines to be published by the PCI Council today will allow retailers—for the first time—to be able to create and seek certification for their own P2PE system, addressing a longstanding retailer concern about the earlier rules locking them into certain vendor relationships.

NCUA has banned four individuals from working for a federally insured financial institution.

The Federal Housing Administration's new loan defect "taxonomy" may give lenders better clarity on the quality assurance reviews of FHA loans, but it's not a shield from possible enforcement action by the Department of Justice and other regulators.

Meta Financial Group in Sioux Falls, S.D., parent of MetaBank and Meta Payment Systems, is raising capital to fuel a future acquisition, and has renewed a significant prepaid card issuing relationship with NetSpend.

Alabama One CU file suit against the state regulator and other state officials alleging a conspiracy against the $613 million credit union.

One key test of banks' latest living will submissions, the first batch of which are due Wednesday, is whether the public portions of their plan are understandable to the public. If they aren't, regulators are ready to take tough action against institutions.

Payment technology provider Cayan says it has become one of fewer than 20 American companies to earn Level 2 EMV certification from standards governing body EMVCo.

Western Union says it will suspend money transfer services in Greece as the country deals with the government's decision to shut down all banks and the stock market for six business days.

Though the bulk of NCUA Debbie Matz's speech was scripted at NAFCU's annual conference, there were a few surprises.

Chris Myklebust will become commissioner of the Colorado Division of Banking. In his previous job, he approved a charter for a CU to serve the state's legal marijuana industry.

The CFBP says it has not made any change to the definition of "creditor" under the Truth In Lending Act new rules regarding TRID even though CUNA said it found a discrepancy relating to exemptions for small lenders.

House Democrats wanted to talk about anything but allegations of employee discrimination at the CFPB raised by recent news reports.

A senior civil rights official at the Consumer Financial Protection Bureau is poised to tell Congress Thursday that the agency willfully disregards the process for handling internal employee complaints of discrimination and has repeatedly retaliated against staff who spoke out.

TRENTON, N.J. — The Garden State will soon have a new banking commissioner.

The percentage of funds that NCUA annually transfers to its operating budget from the National Credit Union Share Insurance Fund to cover expenses of the agency — known as the "overhead transfer rate" — is subject to notice and comment requirements under federal law, according to a legal analysis by NASCUS.

Bank of the Orient in San Francisco has received a federal cease-and-desist order because of shortcomings in its compliance with anti-money-laundering rules.

According to the agency's 2014 Annual Report, NCUA failed to meet all of its targets — in some cases even losing ground — for increasing the number of females, minorities and persons with disabilities at all levels of the organization, including management.

Cumbersome regulations for prepaid products proposed by the Consumer Financial Protection Bureau could reduce consumer-friendly market competition, discourage innovation and effectively cut off many Americans’ participation in the digital economy.

The Canadian Senate Banking, Trade and Commerce committee has issued a report encouraging "a light regulatory touch — almost a hands-off approach" to regulating digital currencies.