Compliance

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.

The Bancorp in Wilmington, Del., has again delayed the filing of its 2014 annual report and is also late in submitting its first-quarter results, it said in a news release Friday.

Credit union and banking trade groups sent a joint letter Friday urging members of the Senate Banking Committee to move forward on bipartisan regulatory relief legislation ahead of a markup next week.

The owner of an Ohio-based loan administrator, accused by the Consumer Financial Protection Bureau of deceptive marketing, says he is the victim of a misguided lawsuit by the agency.

All of eBay Inc.'s 15 board members will remain with the company or become new board members of PayPal when it spins off from eBay in the third quarter.

Many payments companies face challenges from complex money transmitter laws that could be simplified if a pending change in North Carolina is adopted by other states.

JPMorgan Chase has to plead guilty to an antitrust charge if it wants to resolve the Justice Department's investigation into its foreign-exchange trading activities, the company said in a regulatory filing Thursday.

State Street Corp. said it expects to face an enforcement action by the Federal Reserve and the Massachusetts Division of Banks after it failed to comply with the Bank Secrecy Act, anti-money laundering rules and U.S. economic sanctions.

The Payment Card Industry security standards council's PCI 3.0 revision, revealed in January, adds requirements that take effect at the end of June, putting unprepared merchants at risk of fines if they suffer a breach.

Vendors that specialize in Bank Secrecy Act compliance can help ease community banks' regulatory burden while strengthening their controls.

PayPal, the payments division that's separating from eBay Inc., will trade on the Nasdaq Stock Market as PYPL, its original ticker symbol before being acquired by the online marketplace in 2002.

The Obama admnistration voiced major concerns Wednesday with a Senate regulatory reform package up for a vote next week in the Banking Committee.

Federal and state regulators said that mobile telephone carriers Verizon Wireless and Sprint have agreed to settle allegations that they bilked consumers out of millions by allowing third parties to "cram" unauthorized charges onto their customers' bills.

Deutsche Bank has hired the former president of the Clearing House Association to take charge of its stress testing process.