Compliance

For U.S. banks, the days of playing defense with respect to the billions of dollars they collect when consumers swipe their debit cards may finally be over.

NCUA needs to work harder to prove its legal authority to issue a risk-based capital rule, to show that the rule is really needed and to make it the least intrusive and best possible for the credit unions they regulate and insure.

Industry stakeholders are hunkering down to go through NCUA's revised proposed rule on risk-based capital, but at first blush, response has been largely positive, even though the two primary CU trade groups still believe the rule simply isn't necessary, revised or not.

U.S. travelers may soon be able to hop on flights to Havana, but it will take much more time for the banking industry to feel the full impact of the Obama administration's new rules on economic links with Cuba.

The former head of the bankrupt Mt. Gox Co. bitcoin exchange was originally believed by U.S. investigators to be the secret mastermind behind the Silk Road online drug marketplace, an agent who infiltrated the website told jurors at the trial of the man prosecutors now accuse of running it.

The Obama Administration's issued looser rules Thursday for transactions in the small island nation, but banks still face impediments.

Under pressure from Congress and credit unions, the NCUA significantly dialed back its proposal to institute risk-based capital requirements, raising the threshold of which institutions must comply and softening other provisions.

The Consumer Financial Protection Bureau said Wednesday that it was seeking comment on a so-called "safe student account scorecard" that colleges could use to see how financial institutions structure the fees, features and "sales tactics" of financial products to students before forming a partnership.

A federal agency's plan to tighten membership rules for Federal Home Loan banks would hurt community banks and credit unions — and could endanger the financial system, according to a broad array of stakeholders, including state regulators, lawmakers and institutions.

The Consumer Financial Protection Bureau is considering releasing a tool that would show schools exactly how much financial institutions will charge borrowers for providing certain account services on campus.

NCUA has announced that Consumer Financial Protection Bureau Director Richard Cordray will take part in a town hall webinar with NCUA Chair Debbie Matz on Tuesday, Feb. 10 at 3:00 p.m.

Regulators want banks to police MSBs for illicit activity, but they do not view all such businesses as high-risk, said David Cohen, Treasury's top AML official.

It’s taken the U.S. years to embrace, but the migration to Chip and PIN payment technology and its associated “liability shift” will finally happen in 2015.

Regulators want banks to police MSBs for illicit activity, but they do not view all such businesses as high-risk, said David Cohen, Treasury's top AML official.

As banks look to cuts costs and improve efficiency, many are actively trying to reduce the number of times they "touch" a loan file. The goal: get the application right the first time so it doesn't have to be sent back to the underwriter for time-consuming and costly fixes.

Processor First Data is working more closely with long-time partner Underwriters Laboratories to speed up the EMV testing process and certify the chip-card technology in the U.S.

The White House rolled out several more cybersecurity provisions on Tuesday, including a proposal to better coordinate information sharing between the government and the private sector around cyberattacks and emerging threats.

The Consumer Financial Protection Bureau is launching a toolkit on Tuesday that will help consumers shop for a mortgage by finding the best rates in their area based on data the agency gathers from lenders.

The Consumer Financial Protection Bureau is launching a toolkit on Tuesday that will help consumers shop for a mortgage by finding the best rates in their area based on data the agency gathers from lenders.

The Federal Deposit Insurance Corp. is attempting to clarify its policy regarding brokered deposits after a persistent flood of inquiries from bank and others about what meets the definition.