Compliance

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.

The Consumer Financial Protection Bureau issued a warning to credit card companies that use deceptive marketing to mask hidden charges within promotional interest rates.

Card data security has to become a 24-hour priority for businesses, not just when PCI compliance assessors come around for annual checkups, according to the Payment Card Industry Security Standards Council.

Josh Rossi is best known for starting the first Satoshi Square, a gathering of Bitcoin enthusiasts who trade the virtual currency for cash in New York City's Union Square, in 2013. He has since brought his ideas to new companies and new parts of the world.

Nacha, the electronic payments association, has stepped up scrutiny of the automated clearing house network in an attempt to weed out fraudulent charges.

WASHINGTON — The Consumer Financial Protection Bureau has finalized revisions to its international money transfer rule that will provide certain remittances with a longer exemption.

Despite NCUA handing out of $57,750 in penalties to late Q1 Call Report filers, 75 federally insured CUs have filed their Q2 report late, the agency reported Monday.

Getting payment cards operating under a Single Euro Payments Area framework is the next big hurdle facing those seeking a common system in Europe.

WASHINGTON — The Consumer Financial Protection Bureau has chosen a dozen firms involved in the mortgage industry — including two credit unions — for a pilot program looking at whether electronic fillings can improve the mortgage closing process.

Lamassu Bitcoin Ventures is sending its Bitcoin ATMs to areas that may not be completely welcoming to digital currency, with its newest machine touching down today in the West Village of New York City, the birthplace of the "BitLicense" regulatory concept.

A group of retail trade associations and large retailers wants the Supreme Court to review the Federal Reserve Board's recent cap on debit card swipe fees that merchants say is higher than the fee limit envisioned in the Dodd-Frank Act.