Compliance

Last year, IdentityMind Global's banking partners began asking the anti-fraud and risk management provider to build an anti-money laundering system for the Bitcoin startups among the bank's clients. IdentityMind Global has now completed development on this AML technology.

CUNA is asking the House Financial Services Committee to "thoroughly examine" NCUA's proposed risk-based capital rule and direct the agency to make significant changes to address "serious deficiencies" in the proposal.

WASHINGTON — The House Financial Services Committee is scheduled to hold a hearing Tuesday morning with senior regulatory officials to explore the costs of recent rulemakings and other agency actions.

Bitcoin ATM providers and virtual currency exchanges may be subject to Texas licensing requirements, according to regulatory guidelines issued by the Texas Banking Commissioner on April 3.

BTC China and OKCoin, two of China's largest Bitcoin exchanges, suspended some money transfer services after it was reported that the central bank tightened controls on the digital currency.

Sens. Mark Warner, D-Va., and Mark Kirk, R-Ill., unveiled legislation on April 2 to increase fraud protections for debit card customers.

Payments technology provider Fidelity National Information Services (FIS) and its NYCE debit network have secured a licensing agreement with Visa to use the card brand's EMV debit application identifier (common AID) technology.

WASHINGTON — When Harry Douglas Lane was called upon to speak at a Consumer Financial Protection Bureau forum last year, he appeared to be just another person in the crowd.

Many times, it seems, the best way for a company to learn whether it was compliant with the Payment Card Industry data security standard is to experience a data breach.

The recent IRS ruling on how Bitcoin and other virtual currencies are taxed brings the U.S. in line with regulations in Canada, Australia, Finland, Norway and Sweden.

Russian President Vladimir Putin has called for a national payment system, according a report of an address he delivered Thursday to the Russian parliament.

WASHINGTON — Credit union executives are growing more dissatisfied with the examination process, according to the latest numbers from CUNA on CEO exam satisfaction.

A road map for regulation of virtual currency is beginning to emerge as more states appear willing to issue licenses for entities offering exchange and other services.

Lawmakers keep trying to move legislation aimed at strengthening data security even if they are still not finished upbraiding retailers for recent breaches.

MasterCard Inc. is planning its first bond sale on record with a $1.5 billion issue.

While the world waits to see what Russian President Vladimir Putin does next in Ukraine and how Western governments respond, businesses with interests in Russia are already preparing for the economic implications of current events.

The U.S. government will treat Bitcoin as property for tax purposes, applying rules it uses to govern stocks and barter transactions, the Internal Revenue Service said in its first substantive ruling on the issue.

NCUA, along with five other federal agencies, Monday released a proposed rule around implementing minimum requirements for state registration and supervision of appraisal management companies (AMCs) that serve as intermediaries between appraisers and lenders.

The banking industry's victory on debit card interchange fees seems likely to be the decisive turn in a high-stakes legal dispute with retailers.

American Express Co. paid Chief Executive Officer Kenneth Chenault $24.4 million for 2013, an 11 percent increase over the previous year.