Compliance

Heartland alleges in a lawsuit filed Jan. 29 that Mercury Payment Systems is using deceptive trade practices to compete against it.

ALEXANDRIA, Va. -- The National Credit Union Administration appointed Lynn Markgraf to serve as Associate Regional Director for Programs in its Region I office.

MasterCard Inc.'s fight with the European Union over curbs on transaction fees suffered a blow after an adviser to the bloc's top court backed regulators who capped its rates on cross-border credit-card payments.

Merchants can't pass the blame for data breaches onto financial institutions because protecting consumers is a shared responsibility where both sides have to meet their responsibilities.

It's still unclear what New York's planned "BitLicense" actually is, but the New York Department of Financial Services says its license is meant to encourage Bitcoin businesses to operate and innovate in the state.

WASHINGTON -- Consumer Financial Protection Bureau Director Richard Cordray told members of Congress Tuesday that the agency's qualified mortgage/ability-to-pay rules will not crimp credit union home lending to low- and moderate-income members.

New York's financial regulator today said that the state will propose regulations for oversight of virtual currencies such as Bitcoin this year.

Does Bitcoin require its own set of regulations, or can businesses that trade in the virtual currency and payment system be policed effectively under existing rules?

ALEXANDRIA, Va. -- The National Credit Union Administration's new risk-based capital calculator received more than 2,200 unique visits the day it was launched last week and a total of 5,400 through Friday.

Authorities arrested the former CEO of a defunct Bitcoin exchange company on charges of conspiring to launder more than $1 million for users of the online drug market Silk Road.

Payment processor First Data has agreed to pay JPMorgan Chase millions of dollars to settle a hiring dispute, the Wall Street Journal reports.

WASHINGTON -- CUNA slammed NCUA over proposed requirements for contacts with federal credit unions -- labeling the rule unnecessary, unjustified and driven largely by a desire for "examiner convenience."

Retailers are letting Congress know they support federal efforts to thwart cybercrime, while voicing their support of chip-based EMV smartcards combined with PIN authentication as a defense against future breaches.

WASHINGTON -- After reviewing the proposed new rule on risk-based capital introduced at Thursday's NCUA's board meeting, CUNA is not changing its stance that credit unions do not need reform that increases their capital burdens.

Large international money transmitters would have to follow the same federal remittance rules that apply to banks under a Consumer Financial Protection Bureau proposal released today.

ALEXANDRIA, Va. -- NCUA approved a strategic plan for the next four years during its first board meeting of 2014 Thursday, including outlining priorities for the agency through 2017.

BIRMINGHAM, Ala. -- With NCUA's proposed new risk-based capital rule due out Thursday, credit unions are anxiously waiting to see if the agency gets it right.

WASHINGTON -- NCUA's warning that it could fine credit unions by as much as $1 million a day for filing late call reports is under more fire.

While it is easy to vilify Target for its recent data breach, the card networks' refusal to take on real card security makes the retailer a victim along with consumers.

NCUA released a list of regulations Tuesday it will review this year, noting that the agency is currently accepting public comments on the substance and clarity of each rule.