Compliance

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.

WASHINGTON — After three regulatory relief bills sailed through the U.S. House of Representatives last week — two of which were written specifically for credit unions — industry insiders are cautiously optimistic.

Connecticut's top banking regulator on Monday warned investors about the dangers of Bitcoin.

WASHINGTON — With more than 320 members of Congress signing on to a letter to NCUA urging it to extend the comment period and the implementation timeline for its risk-based capital proposed rule, credit unions are hoping the agency will take notice.

ALEXANDRIA, Va. — NCUA did not meet over half of its employment diversity goals for 2013, hitting only 40% of its target achievements in this category, according to the agency's annual report, released Monday.

WASHINGTON — The Financial Stability Oversight Council on Wednesday expanded its transparency policies in an attempt to address criticism that it is a secretive group with minimal oversight.

India launched its new payment system, RuPay, this week to provide a low-cost card network to rival Visa and MasterCard.

Card-not-present (CNP) fraud is generating quite a bit of chatter in financial and payments circles today. Much of the talk centers on the link between greater global use of the EMV standard and rising CNP fraud.

WASHINGTON – It was a big day for credit unions on Capitol Hill Tuesday, as three bills that aim to give CUs some long-sought regulatory relief passed the House of Representatives.

Alibaba Group Holding Ltd., which rode China's emergence as an economic superpower over the past 15 years to become a massive online marketplace for everything from forks to forklifts, filed today for what could become the largest U.S. initial public offering ever.

WASHINGTON — As a bill that could bring monumental changes to Fannie Mae and Freddie Mac works its way through the Senate, some credit union executives are concerned that larger players would have too many advantages at the expense of small lenders.