Compliance

A federal appeals court panel ruled today that the existing restrictions on debit card swipe fees should largely stand, turning back a challenge by retailers who argued that banks are still earning too much money from the fees.

The National Credit Union Administration will start fining credit unions that file call reports after the April 25 deadline for the first quarter, an agency spokesman told Credit Union Journal Thursday immediately following the agency's March board meeting.

Activist investor Carl Icahn, who has been calling for eBay to spin off PayPal, is now asking for eBay to conduct a partial initial public offering of the payments processor.

QR codes, which are commonly used in mobile wallets to link to a consumer's payment account, can just as easily link to phishing sites, malware and other nasty surprises.

Discover Financial Services awarded Chief Executive Officer David Nelms a 2013 cash bonus that was 38 percent less than the previous year.

MasterCard is requiring acquirers and payment service providers to offer clear fee disclosures as part of an initiative aimed at smaller merchants.

International Bitcoin businesses have been sizing up the African market for some time, but they face massive regulatory hurdles throughout much of the continent.

Treasury's Bank Secrecy Act Advisory Group will include a member of the virtual-currency community to help make regulations "better informed and more effective," David S. Cohen, the undersecretary for terrorism and financial intelligence, said today.

Most banks and payment processors are in no hurry to help marijuana sellers accept credit card payments where the substance can be legally sold, despite a clear opportunity to modernize what is largely a cash-based market.

These 20 women have reached impressive heights in a traditionally male dominated industry and have played a vital role in helping their organizations stay ahead of the curve.

MADISON, Wis. — One of the most visible changes at credit unions in the wake of the Great Recession has been the sharp increase in expectations for credit union directors — especially when it comes to financial education.

Fiserv, which operates the Accel debit network, spent two years evaluating the best way to route EMV debit transactions in compliance with federal mandates – but it abstained from working with the Debit Network Alliance, which is committed to the same cause.

ARLINGTON, Va. — NAFCU has introduced its own risk-based capital calculator the trade association says will help credit unions carefully evaluate the impact of NCUA's proposed capital rule on their operations.

WASHINGTON — Mark McWatters shared insights into what kind of regulator he would be if confirmed to a seat on the NCUA board during testimony before the Senate Committee on Banking, Housing, and Urban Affairs Thursday.

Becoming a licensed money transmitter throughout the U.S. is a time intensive and costly process many Bitcoin businesses are struggling with. But the costs of compliance could be cut substantially with the proactive step of hiring in-house compliance officers.

ALEXANDRIA, Va. — NCUA chairman Debbie Matz has informed CUNA and NAFCU that the comment period for the agency's risk-based capital proposal will not be extended, the trade associations report.

Digital currency exchanges may soon file formal proposals and applications to operate under regulations set by the New York State Department of Financial Services.

MasterCard and Visa have formed a new group to improve efforts in the U.S. to migrate to the EMV-chip cards other security methods.

The Electronic Transactions Association is lobbying Congress to enact a uniform national data breach reporting standard that would replace a welter of contradictory state and local rules.

OLYMPIA, Wash. -- The high-profile addition last year of Washington and Tennessee to the ranks of states that allow some credit unions pay to board members reignited a debate that continues -- is it a good idea or a bad idea?