Compliance

The Federal Trade Commission should take more steps to police the acquiring industry and halt fraudulent practices, says Robert Carr, longtime CEO of Heartland Payment Systems Inc.

Many payments companies see a conflict between innovation and regulation, with each side perceiving the other as out of touch with their needs, particularly when it comes to new technology.

WASHINGTON-Credit unions remain leery about proposed federal guidelines for social media, saying-among other complaints-requirements to include disclosures on federal deposit insurance would take up too many of the 140 characters that Twitter limits for tweets.

MADISON, Wis.-As the Consumer Financial Protection Bureau wraps up implementing its voluminous mortgage rules in January, credit unions should not expect any respite from the compliance burden.

WASHINGTON-Though the first 24 months under the Durbin Amendment were not as difficult as many credit unions had predicted, what really has the movement concerned is the next two years.

Fort Smith Dixie Cup FCU staff pay attention to their membership and the transactions that flow through their office for signs of elder financial abuse.

Even though the U.S. payments industry's regulatory environment can be difficult for startups, there is plenty of investment being made in the market for new disruptive technologies.

Security can be an expensive, time-consuming investment for small merchants, and most have a mindset that security hacks won't happen to them. But independent sales organizations must take an active role in protecting even the merchants that don't want to be protected.

The Chinese market has long been tough for foreign companies to break into, but over the past five years the cultural and political environment has changed in a way that presents some fresh possibilities.

WASHINGTON – Credit unions are criticizing proposed federal guidelines for social media, saying – among other complaints – requirements to include disclosures on federal deposit insurance would take up too many of the 140 characters that Twitter limits for tweets.

ALEXANDRIA, Va. – NCUA on Tuesday said it is making a variety of changes to its examinations process, including a requirement that its examiners follow up with credit unions on all issues raised in a document of resolution (DOR) within 120 days after the exam.

Ukash provides its online payments services in 55 countries with more than 420,000 locations worldwide. But it has so far steered clear of the U.S.

The governors of Washington and Colorado called on NCUA and bank regulators last week for guidance on their states' newly-legal marijuana trade, as legislation in Congress to legalize pot banking is stalled.

A New York law banning merchants from surcharging customers to make up for credit-card swipe fees was halted by a federal judge who ruled the statute is unconstitutional.

The only way for the payments industry to thwart future hackers is to create a system that can adapt quickly to unanticipated threats – but many companies still struggle with the costs of handling their basic security needs.

WASHINGTON – The governors of Washington and Colorado called on NCUA and bank regulators yesterday for guidance on their states’ newly-legal marijuana trade, as legislation in Congress to legalize pot banking is stalled.

Credit card issuers are charging less in penalties and doing a better job of disclosing previously hidden fees, according to a report by the Consumer Financial Protection Bureau.

Several political candidates have begun accepting bitcoins for campaign contribution—but the future of this practice hinges on a Federal Election Commission decision coming by October 28.

WASHINGTON – The Department of Housing and Urban Development announced it has reached agreements to settle two Fair Housing Act complaints against CMG Mortgage Insurance Company, the nation’s largest provider of private mortgage insurance to credit unions, over coverage for a borrower on maternity leave.

New York's top banking overseer said any regulation of the nascent Bitcoin industry has to include transparency on who does the trading of the virtual currency, and if that hurts a business dominated by anonymous transactions, "so be it."