Compliance

Consumer groups said that the Consumer Financial Protection Bureau was too soft in its prepaid card plan, arguing that it should have required more on upfront disclosures, banned overdraft charges, and completely severed prepaid cards from being tied to other types of credit.

For payment technology developers, the stakes couldn't be higher as the FCC develops new rules that could support or eliminate net neutrality, a system in which Web access is equal for most users, regardless of size.

ARLINGTON,Va. — NASCUS kicked off its inaugural cyber security symposium last Thursday, and judging from attendance, there will be a repeat performance next year.

Alibaba's cooperation with Apple may start with offering Apple Pay in the Chinese market through an intermediary to skirt regulatory hurdles, Alibaba Vice Chairman Joseph Tsai told a Chinese-language news wire.

Uber, the ubiquitous black-car company that popularized the use of mobile apps to book rides, will switch to a two-tiered payment system to continue operations in India.

The Consumer Financial Protection Bureau is set to go beyond industry expectations when it unveils a long-awaited proposal Thursday that would establish new requirements for prepaid cards.

Square Inc. may have more incentive than other acquirers in urging merchant clients to accept EMV-chip cards, but its pricing strategy could deter some from adopting the secure technology.

Nacha CEO Janet Estep discusses how her organization polices bad actors on the automated clearing house network, why it doesn't single out specific merchant categories as risky, and how nudging the industry toward "push" payments will help.

Visa Inc. and MasterCard Inc., facing pressure from Canada’s federal government, agreed to lower credit-card transaction fees for the nation’s merchants by about 10 percent.

During the past week, consumer and industry groups have lobbied the agency in different directions, with consumer groups arguing the agency did not go far enough and lenders saying it went too far in seeking more data from lenders.

WASHINGTON — Federal regulators released a document summarizing their general findings from recent cybersecurity assessments at community-size financial institutions.

The New York Department of Financial Services will likely institute an on-ramp for new Bitcoin businesses — and possibly any other kind of money transmitting startups — as a way for them to launch without being burdened by costly licensing requirements.

New York may offer transitional licenses to small virtual-currency firms and startups to let them grow before facing the full burden of new regulation, the state’s top financial watchdog said.

NCUA said in a press release Friday that it has barred three former credit union employees from working at a federally insured financial institution.

As regulators heighten their scrutiny of Bitcoin businesses, several digital currency supporters are looking for business models that do not subject them to the cumbersome requirements they would face as money services businesses or money transmitters.

The "marriage" that Apple's CEO and Alibaba's founder are hinting at could create a mobile wallet with a global reach that well exceeds that of most banks, telcos and other mobile-wallet developers active in either company's home market.

What initially appeared to be a listening session by a key federal regulator about access to checking accounts has sparked concerns that the agency may be seeking to go much further in dictating how and when credit unions and banks open accounts for consumers.

The Fed's hotly-anticipated road map outlining plans to speed up the U.S. payment system will call for the creation of several industry-led task forces and recommend building a new infrastructure to facilitate real-time payments.

ALEXANDRIA, Va. — NCUA is set to receive more than $17,000 in fines from 44 credit unions that have agreed to civil money penalties as a result of filing late second-quarter call reports.

The Apple Pay effect on m-commerce should result in more attention for mobile-heavy Bitcoin transactions, but virtual currencies are still being held back by unclear regulations, according to payment executives.