Compliance

Visa Inc. has opted to transfer its card transaction processing in Russia to a local payment system rather than pay a security deposit to do business in the country.

Plenty of card issuing institutions have not fully implemented the EMV technology and will not be ready by the card network-imposed October liability shift.

Despite the pending October liability shift, there are many small and mid-sized merchants and merchant service providers that are only starting to learn about the EMV standard and beginning implementation project plans.

Foreclosures and delinquencies may seem like problems from the past, but servicers are still struggling with a massive backlog of distressed loans and a return to normalcy is at least two years away, if not longer.

HSBC has spent billions of dollars in compliance and legal costs, but the damaging scandals keep coming. Renewed attention on the problems at its Swiss private bank could fuel the debate about whether banks this size are too big to manage.

The Ohio Department of Commerce announced that Robert W. Rutkowski has been named deputy superintendent for credit unions. Rutkowski will begin serving his new post Feb. 23.

A recent research paper found that community banks' assets, along with market share in most types of commercial lending, have fallen since the Dodd-Frank Act was passed. The report is giving advocates of smaller institutions more data to rally around.

Fidelity Investments and Federated Investors are walking clients through major changes in the $2.7 trillion money fund business as banks fear another blow to funding.

Gary Patton Hall Jr. hid underperforming and at-risk loans from the Federal Deposit Insurance Corp. and the bank's loan committee, the Federal Bureau of Investigation said in its indictment Thursday.

Sen. Elizabeth Warren said small financial institutions have continued to be profitable despite new rules under the Dodd-Frank Act while raising fresh warnings about unnecessary changes to the financial reform law in the guise of regulatory relief.

Top executives from Bank of America, U.S. Bancorp, American Express, Visa, MasterCard, Microsoft and Apple are expected to participate as part of a White House summit on cybersecurity issues in California on Friday.

The FDIC welcomed seven new members to a committee on Wednesday that will provide recommendations on policy and regulatory issues affecting community banks.

WASHINGTON — Federal bank regulators made a tool available on Wednesday to help banks calculate capital requirements for securitization exposures.

The central bank is floating the concept of using the Internet to facilitate the direct clearing of transactions between financial institutions, which would likely diminish its own role in the U.S. payment system.

There's an almost endless list of reasons for payment companies to avoid doing business in Russia, but the opportunities are just as vast.

In unusually expansive comments, Consumer Financial Protection Bureau Director Richard Cordray provided new details Tuesday about proposals due soon from the agency while offering insights into an internal battle over easing a key mortgage rule.

The Senate Banking Committee's first look at regulatory relief for small institutions provided key insights into how the panel is likely to tackle the topic legislatively this year, suggesting it could be a long and contentious debate.

WASHINGTON — U.S. Sens. Jerry Moran (R-Kan.) and Heidi Heitkamp (D-N.D) have introduced a bill aimed at alleviating the regulatory burden related to privacy notices.

The creation of a new cybersecurity agency is the latest move by the Obama Administration to combat the increasing threat of cyber-attacks.

Mozido LLC is buying its way into China, giving it a head start as big companies like Apple also eye the country's payments market.