Compliance

Technology is rapidly changing payments, turning it into something that more closely resembles a layered ecosystem like an electrical grid than a traditional financial service.

The Consumer Financial Protection Bureau announced Tuesday that it's seeking public comment ahead of a second study on the credit card market that could pave the way for new regulations or enforcement actions.

The Consumer Financial Protection Bureau announced Tuesday that it's seeking public comment ahead of a second study on the credit card market that could pave the way for new regulations or enforcement actions.

A top Justice Department prosecutor said the U.S. is prepared to punish banks for violating criminal settlements, an unprecedented move designed to crack down on repeat offenders.

An expected rush of refinancings of Federal Housing Administration loans could force some mortgage servicers to take writedowns in the first and second quarters, but they have more incentive than ever to keep borrowers in the FHA program instead of letting rivals lure away their customers.

As the implementation of new anti-fraud measures for debit and credit cards looms, community banks must work with their processors and sharpen their customer service skills to ensure a smooth transition.

Innovation must be tamed. Let it run wild and risk serious economic consequences, not to mention hefty fines.

Hencorp Becstone Capital in Miami has agreed to pay $3.8 million to settle allegations that it provided inaccurate statements and claims to the Export-Import Bank.

Washington — CUNA officials continue to insist NCUA lacks statutory authority to implement a two-tiered risk-based capital rule.

When it comes to protecting sensitive payment data, call centers are often the forgotten operation, and card data leaks out unintentionally. Protected data spoken in one cubicle can be overheard by 20 nearby reps, along with any customers on the phone with those reps.

WASHINGTON — NCUA is working to streamline the exam process and reduce the burden for credit unions, according to Larry Fazio, director of the agency's Office of Examination and Insurance.

Apple Pay and cryptocurrencies such as Bitcoin have a lot of appeal for banks looking to stay at the cutting edge of digital payments. But security and compliance risks are part and parcel of these innovations.

For the past two years, acquirers and processors have taken aim at the lengthy EMV chip-card certification process as a major stumbling block for U.S. merchants preparing to upgrade from magnetic stripe technology in time to avoid a shift in fraud liability.

Banks can expect to incur higher costs in several areas during the implementation of a settlement agreement to improve the accuracy of credit reports. But they might benefit in the long run by getting better information on borrowers.

Lucrative sale of a subprime lending unit. Big credit card deal. Clear business plan. It's looking like a good year for Citi — provided it passes the CCAR stress test this week and fills a key executive post.

Seeking a uniform process for card-not-present transactions in the Single Euro Payments Area throughout Europe, the European Payments Council has created a blueprint for an interoperable card and terminal infrastructure.

The European Parliament on March 9 voted in favor of capping interchange fees for domestic and cross-border transactions, a move that many European banks anticipated.

Industry groups are urging the Pentagon to soften its proposed expansion of a rate cap on loans sold to service members, but banks face opposition from dozens of advocacy groups that favor tougher restrictions.

The Federal Reserve and JPMorgan Chase were far apart last week in how much revenue the company would be making after the kind of economic shock envisioned in the Dodd-Frank stress test. The gap has JPM observers cautiously awaiting the results of this week's CCAR test.

Banks have spent a lot of money in order to comply with stress-test requirements. But they will only realize the value on their investments if they integrate stress-test tools and results into their daily decision-making process.