Compliance

The Department of Justice is looking into whether the two dozen banks that facilitated bribes allegedly paid to FIFA officials knew they were doing so. The case is also a test of how much liability banks have over illegal payments they allow.

Financial messaging organization Swift opened its KYC registry to fund distributors and custodians Thursday.

The recent sniping between NCUA Chairman Debbie Matz and board member J. Mark McWatters may have garnered attention, but former board members and others suggest this could actually be a good thing for credit unions.

Merchants expect that payment card fraud will migrate to e-commerce as the U.S. gets more protection at the physical point of sale through EMV chip cards. That means chargebacks, already a problem in physical retail, will escalate in e-commerce as well.

RALEIGH, N.C. — With NCUA mandating last year that all federally insured CUs with assets of $10 billion or more begin "stress tests" this year, State Employees' CU (SECU) here has published results of its own internal stress testing.

The Consumer Financial Protection Bureau is increasingly brandishing a post-crisis tool allowing it to label activities "abusive," but whether financial services firms are closer to understanding the term is still up for debate.

The state has moved against the Embassy Suites hotel chain after one of its hotels was breached, affecting about 17 customers.

California officials are considering a wide range of options to regulate digital currencies such as Bitcoin.

Lawmakers on the Senate Banking Committee may still stand divided on regulatory reform, but Thursday's markup points to ongoing desire for a way forward.

The Federal Reserve Board is taking public comment on whether to require member banks to move to same-day payments after an industry group voted to mandate faster payments among the nation’s 12,000 financial institutions.

WASHINGTON — The Senate Banking Committee approved a broad regulatory reform bill Thursday on party lines, with lawmakers on both sides of the aisle vowing to continue negotiations this summer.

ATMs have long been a target of fraudsters hoping to steal a large amount of card data from unsuspecting consumers, and the problem looks like it can only get worse before it gets better.

Visa Inc. isn't expecting a near-term financial boost from processing domestic card transactions in China, even though the doors have finally opened up to do business in the massive Chinese market.

It took a long time, but the U.S. banking industry has finally embraced the concept of speedier payments.

The Consumer Financial Protection Bureau has cited PayPal for illegally signing up consumers for online credit.

The plan calls for the implementation of two new same-day settlement windows by March 2018. Fees that banks and credit unions will pay each other to cover the cost of the upgrades have been decreased.

If Verifone wants to benefit from the major card brands' efforts to operate in China, it must confront a virtual army of independent sales organizations already selling low-cost payment terminals.

In a move foreshadowed by Alibaba Group Holding's initial public offering in the U.S., the China-based e-commerce giant's Alipay division has received a U.S. money transmitter license.

No bank has fully disclosed what it spends on the Federal Reserve's Comprehensive Capital Analysis and Review, in part because the figure is hard to isolate. It's a key piece of information missing in the debate over banks' regulatory burden.

MasterCard Inc. is poised to receive an antitrust complaint from European Union watchdogs probing card-payment fees, according to three people with knowledge of the case.