Compliance

Bitcoin enthusiasts are expressing confusion and surprise after Casascius Coin, which encodes a digital bitcoins onto physical coins, halted operations after receiving notification from the Financial Crimes Enforcement Network that it is subject to the department's oversight.

ATM owners and operators will watch closely and provide support from the sidelines as the new Debit Network Alliance seeks to resolve the industry's nagging EMV debit routing issue at the retail point of sale.

MasterCard released new standards that require companies that use payroll cards to provide educational resources, increased fee transparency and allow free access account information.

WASHINGTON — Mandatory arbitration, a flash point for consumer advocates, is much less common at credit unions for credit cards and checking accounts disputes than at big banks, the Consumer Financial Protection Bureau reported Thursday.

The Debit Network Alliance, formed this week through the collaborative effort of ten PIN debit networks, is seeking the membership and cooperation of other industry players, including the major card brands.

The Federal Financial Institutions Examination Council on Wednesday issued final guidance aimed at helping, credit unions, banks and other financial institutions manage risks related to social media.

A new company has formed to tackle the pressing issue of routing EMV debit transactions in compliance with federal mandates, a task the payments industry has undertaken for nearly two years.

MasterCard Inc. said its board of directors approved an 83 percent dividend increase and a 10-for-1 stock split.

DB Networks has joined the Payment Card Industry (PCI) Security Standards Council.

The FTC's goal of compensating victims of merchant fraud is laudable. But effectuating that goal through a "crackdown" on processors and ISOs, which effectively makes them insurers of merchant fraud, seems misguided.

Monitise is starting with a relatively simple mobile money deployment in Hong Kong, with plans to turn it into a major payments business throughout China.

BtcQuick, a Bitcoin exchange, has deployed miiCard's identity verification service to comply with Know Your Customer and Anti-Money Laundering requirements and help deter fraud risk.

JPMorgan Chase is warning 465,000 holders of prepaid cash cards that their personal information may have been accessed by hackers who attacked the bank's network earlier this year.

The Federal Reserve Board says it followed a proper system for establishing debit interchange caps and fully abided by the Durbin Amendment's requirement for merchants to have two unaffiliated networks to choose from for routing debit transactions.

American Airlines and US Airways have argued that the combined airline will be good for "competition, consumers and choice." But just days before the merger's closing, changes that the airlines have made to a popular credit card reward may end up having the opposite effect.

The Fed's vision of a vastly improved payments system within 10 years is getting a chilly reception from a group representing the nation's largest banks.

China's central bank barred financial institutions from handling Bitcoin transactions, moving to regulate the virtual currency after an 89-fold jump in its value sparked a surge of investor interest in the country.

WASHINGTON — John Farmakides, president and CEO of Lafayette Federal Credit Union, testified before a Congressional subcommittee Thursday morning about impediments to credit union business lending.

Several Canadian banks have taken on the challenge of managing and protecting their customers' usernames and passwords across banking and government sites. U.S. banks are invited to join a similar pilot starting in the U.S.

WASHINGTON – The NAFCU Board on Wednesday met with the Federal Reserve to discuss credit union issues and present the findings of its “2013 NAFCU Report on Credit Unions.”