Compliance

GOP staff said the bill was intended to steer clear of provisions that would have automatically delayed or derailed the bill. But Democrats already were saying it went too far. Following is a complete guide to what’s in the bill.

It's been just over one year since the Financial Crime Enforcement Network first provided instructions to banks on how they can both accept marijuana business dollars and still comply with the law. Yet few banks have opened their doors.

CFPB and Justice are taking a renewed interest in redlining, the practice of lenders charging more for products or excluding altogether minorities within certain geographic areas — and their findings may be surprising.

As more U.S. banks issue EMV-chip credit and debit cards, consumer education remains a challenge, particularly if consumers overlook the paper inserts that come with their new cards.

A group of small banks and credit unions could not persuade a judge to block the settlement Target and MasterCard reached last month that would reimburse banks on the card network $19 million for losses related to the retailer's breach.

Opening the door for banks to offer non-branded PIN debit cards and even mobile wallets, the Debit Network Alliance is developing its own application identifier for routing transactions from EMV-chip cards.

The celebration that accompanied China's loosening card regulations is premature. It's wishful thinking that Visa and MasterCard easily be able to capture a percentage of the humongous China market.

Senate Banking Committee Chairman Richard Shelby announced Friday he was pushing back a planned vote on regulatory relief until May 21, a week after it was initially scheduled.

Visa Inc., the world's largest payments network, is in preliminary talks to buy former subsidiary Visa Europe Ltd. in a deal that may be valued at as much as $20 billion, people with knowledge of the matter said.

WASHINGTON — All 10 Democrats on the Senate Banking Committee sent a joint letter Friday that said they plan to oppose a regulatory relief bill scheduled for a panel vote next week since Republicans have not yet provided legislative language to all members.

While startups across the globe focus on building new payments technology, countries may fare better by recycling their old technology when building a national infrastructure for faster payments.

The good news is that EMV is very effective at preventing the use of counterfeit credit/debit cards at the point of sale (POS), commonly referred to as card-present (CP) fraud.

Payments technology tester and certifier Fime will serve a one-year term to represent the technical associates program on the EMVCo board of advisors.

A statement by a foreign regulator that it might penalize banks that drop businesses due to heightened supervisory risk has spooked U.S. institutions who worry domestic agencies could follow suit.

The regulators have spelled it out: If a bank wants relief from onerous compliance requirements, a path to get there is to use simple, basic practices for credit risk management.

Ocwen Financial failed a test to determine whether it had notified borrowers of missing or incomplete documents for loan modifications in a timely manner, according to the national mortgage settlement monitor.

Internal Revenue Service examiners are conducting bank-like exams of virtual currency firms for possible anti-money laundering violations, Financial Crime Enforcement Network Director Jennifer Shasky Calvery said May 6.

The CFPB found that more than 26 million consumers are effectively "credit invisible" because they have no credit record and another 19 million are "unscored" because they have an insufficient or stale credit history. But it's unclear how the CFPB plans to tackle the issue.

Digital currency firm Ripple Labs just made history—but not the kind it's been hoping for.

U.S. authorities have fined the San Francisco startup $700,000 over violations of the Bank Secrecy Act, according to the Financial Crimes Enforcement Network's Tuesday press release.