Compliance

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.

The NCUA is fully aware of credit unions' concerns about its proposed risk-based capital rule, including discretionary examiner authority to set capital standards and the rule's impact on some shops' business lending.

Visa Inc. and MasterCard Inc. have about six weeks to decide whether a new Russian law requiring them to pay hundreds of millions of dollars to operate in that country is worth the cost. For now, Visa's answer is nyet.

LifeLock Inc. has temporarily pulled its LifeLock Wallet app off the market to address security issues.

WePay's decision to halt a crowdfunding initiative for an adult film actress struck a nerve as payments companies are seen distancing themselves from people in the adult entertainment industry.

ALEXANDRIA, Va. — As comment letters on the proposed risk-based capital rule flood into NCUA, the agency said it may consider delaying the rule's effective date.

ROYAL OAK, Mich. — NCUA's proposal to amend the agency's chartering and field of membership rules could slow indirect lending at some credit unions, say industry insiders.

WASHINGTON — The Senate Banking Committee passed major legislation to overhaul the housing finance system on Thursday, but observers say a quiet death likely awaits it due to a lack of greater support from key lawmakers.

Cal-Bay International is developing a specialized prepaid and loyalty card for licensed marijuana dispensaries.

ALEXANDRIA, Va. — The NCUA remains committed to workforce diversity as a key to success for the organization, despite the agency failing to meet 60% of its own workplace target goals last year.

Discover's Pulse network and MasterCard have agreed to allow card-issuing banks using both networks to use MasterCard's technology to route EMV debit card transactions.