Compliance

Nearly four years ago, business owner Andy Brice decided to switch to a more expensive provider for payment processing.

The House approved a bill Monday evening to modify the calculation of certain "points and fees" under the Consumer Financial Protection Bureau's qualified mortgage rule.

WASHINGTON — For the first time in weeks, both chambers of Congress are in session, and they're taking a hard look at regulatory relief efforts.

WASHINGTON — As NCUA sifts through more than 2,000 comment letters on the risk-based capital proposal, CUNA and NAFCU hope the agency pays close attention to a letter the regulator received Wednesday from leaders of the Senate Banking Committee.

MasterCard has launched a new Shariah-compliant debit card in Malaysia.

Bitcoin entrepreneur Erik Voorhees will pay more than $50,000 to settle charges by the Securities and Exchange Commission that he failed to register a stock offering.

WASHINGTON — The Senate Banking Committee approved a bill Tuesday to reauthorize the Terrorism Risk Insurance Act for seven years.

Visa Inc., the world's biggest bank-card network, said Byron H. Pollitt Jr. plans to retire as chief financial officer within the next 12 months.

Visa Inc. has announced a new specification for reloadable prepaid providers focused on simplifying fees and disclosures.

Merchants seeking a court ruling that would cause the Federal Reserve Board to re-establish debit cap fees at a lower rate want more time to consider bringing the case to the Supreme Court.

Fifth Third Bancorp of Cincinnati expects to report an $81 million gain in the second quarter after selling shares of payment processing firm Vantiv.

Now that the risk-based capital rule comment period is over, and a record number of letters reached NCUA, the credit union community's two main trade groups say the agency faces the tough task of reviewing and responding to the collective points.

At least three credit unions on NCUA's first-quarter call report late-filer list believe they are off the hook and won't face civil money penalties.

Of the 104 federally insured CUs that missed the April 25 call report filing deadline the $120 million Animas CU in Farmington, N.M., was the tardiest, submitting its report 22 days late.

ROYAL OAK, Mich. — Is NCUA's proposed rule regarding associational common bonds a reaction to banker arguments that some CUs make it too easy for consumers to join?

Visa Inc. and MasterCard Inc. said they'll keep working in Russia after President Vladimir Putin’s government agreed to consider easing demands that were made on the payment systems after the U.S. imposed sanctions.

Five years after the enactment of major reforms to the U.S. credit-card market, industry opposition has quietly faded into acceptance. Bankers certainly aren't celebrating the 2009 legislation, but they're not condemning it, either.

ALEXANDRIA, Va. — Despite the threat of civil money penalties for submitting late call reports, and NCUA issuing warning letters after the January deadline, more than 100 CUs still filed late as of the April 25 filing date.

WASHINGTON — Despite over 1,000 letters reaching NCUA Wednesday morning, CUNA and NAFCU contend the risk-based capital rule comment period has been too short and may lead to a final rule that would negatively impact credit unions.

Jumio is working with the European Bitcoin exchange Safello to provide faster verification of customers.