Compliance

Whether it was driven by procedure, policy or politics, NCUA's decision to reissue its controversial risk-based capital rule for comment met with much approbation by credit union executives and stakeholders, even as the industry is still holding its breath to see what the revised proposal looks like.

ALEXANDRIA, Va. — NCUA liquidated Republic Hose FCU in Youngstown, Ohio, Tuesday, the eighth credit union failure of the year.

WM Morrison Supermarkets Plc is leading a group of U.K. retailers seeking to add as much as 1 billion pounds ($1.6 billion) to the amount it's seeking from MasterCard Inc. in an antitrust suit over payment fees.

Ripple Labs Inc., a venture capital-backed challenger to Western Union and Bitcoin, is for the first time gaining access to the U.S. banking system, and security hawks are raising eyebrows.

WASHINGTON — The Consumer Financial Protection Bureau has agreed to ramp up its security policies on data collection in response to a recent Government Accountability Office report that raised nearly a dozen recommendations on the topic.

WASHINGTON — The Consumer Financial Protection Bureau recently appointed eight new members to its Credit Union Advisory Council.

WASHINGTON — New NCUA Board Member Mark McWatters believes a second comment period is needed on the regulator's proposed risk-based capital rule and will not vote for any RBC proposal that does not include one.

WASHINGTON — The Consumer Financial Protection Bureau remains committed to working with the financial services industry to improve the mortgage closing experience for consumers through the use of technology, CFPB director Richard Cordray said.

Pictures and highlights of some of the featured speakers at the trade group's annual Washington, D.C., event.

Credit unions and community bankers took to the Senate on Tuesday to urge policymakers to provide regulatory relief, but it appears any significant change is a long way off.

It's time for the Payment Card Industry Security Standards Council to work with acquirers in providing merchants with "PCI in a box," said Stephen Orfei, the council's new general manager.

Just two days after Apple unveiled its new program designed to speed the adoption and use of mobile payments, Consumer Financial Protection Bureau Director Richard Cordray cited the burgeoning field as a key area of concern.

MasterCard is establishing a foundation for mobile wallets in Europe by requiring the continent's merchants to accept contactless payments by the end of the decade.

The Payment Card Industry Security Standards Council is providing updated guidance for merchants to protect against fraudulent card skimming, which it says costs U.S. businesses and consumers $8 billion a year.

MasterCard Inc. lost its final court challenge to a European Union antitrust order for it to cap fees it sets for cross-border card payments in Europe.

WASHINGTON — NCUA Board Member Rick Metsger said Wednesday he favors doubling the implementation period, which would create a de-facto second comment period on the agency's controversial risk-based capital rule.

MasterCard Inc. won a court clash with European Union antitrust regulators who refused to hand over a study comparing the costs of bank cards with cash.

In Indonesia, Bank Tabungan is partnering with financial services software company Compass Plus to navigate the issuance of EMV-chip cards ahead of its national deadline.

WASHINGTON — Credit unions and community bankers are launching a last-ditch effort to push the Senate this year to pass more than a dozen bipartisan regulatory relief bills that have already cleared the House with support from both parties.

Canadian Finance Minister Joe Oliver is pressing credit-card companies and banks to accept lower transaction fees paid by retailers, which the government claims are among the highest in the world, according to two people familiar with the talks.