Compliance

WASHINGTON – The Senate introduced a bill this afternoon that would bar credit unions and banks from reordering customer payments so as to create the most overdrafts, a practice known as batching.

The federal government says it may build databases of credit card transactions, hotel records and Internet searches as part of counter security measures.

The Federal Trade Commission's recent lawsuits against two independent sales organizations for alleged violations of the Telemarketing Sales Rule may be the "tip of the iceberg" of regulatory action against the acquiring industry.

ALEXANDRIA, Va. – NCUA Board Chairman Debbie Matz on Thursday said while she is pleased with macroeconomic developments and their positive effects on credit unions, she has several concerns.

ALEXANDRIA, Va. – NCUA on Thursday announced a realignment of the agency’s regional supervision of federally insured credit unions in nine states, effective Jan. 1, 2014.

ALEXANDRIA, Va. – The NCUA Board at next week’s monthly meeting will discuss proposed standards for assessing the diversity policies and practices of credit unions.

After years of government and telco-backed testing of contactless mobile payments in France, a major bank is ready to provide a significant boost to the country's Near Field Communication project.

American Express does not expect the discount rate it charges merchants to fall under the jurisdiction of regulations being considered by the European Union to place caps on interchange fees.

AUSTIN, Texas – The Texas CU Department on Wednesday said it will start telling state chartered credit unions their state CAMEL code beginning in September.

Banks and payment card providers would face caps on the transaction fees they can demand from retailers under European Union plans to rein in charges that have been attacked by regulators as anticompetitive.

For the past two weeks, Visa, MasterCard and Discover have been meeting with each other and with regional debit networks to hammer out the business agreements necessary to route debit transactions on EMV-chip cards in the U.S.

WASHINGTON – The Senate this evening finally voted to confirm Richard Cordray to a five-year term as director of the Consumer Financial Protection Bureau, 17 months after President Obama bypassed intransigent Senate Republicans and appointed Cordray to an abbreviated recess appointment

Have you ever imagined starting your own bitcoin exchange? Soon, Vancouver-based Bex.io will make that possible by deploying exchange functionality under a Software as a Service (SaaS) model.

Kipochi, an African online service launched this month, is looking for a way to connect the digital currency Bitcoin to M-Pesa, Kenya's widely-used mobile payments system.

Businesses that provide payments services to companies that collect or use consumer data should closely watch the FTC’s recent lawsuits against two processors and fully assess the legal risks that might be associated with their business relationships.

Payments and marketing are getting closer than ever, and several companies are blurring the line between where the payment ends and where the pitch begins.

JPMorgan Chase, reporting a 31% increase in its second-quarter net income driven by investment banking, also reported that its credit-card business is stabilizing.

Bitcoin exchange Coinbase will offer instant purchases for users that supply identity information, with others having to wait four days for transactions to complete.

WASHINGTON – Senate Majority Leader Harry Reid threatened yesterday to pursue the so-called nuclear option as soon as Tuesday and bypass the Senate minority’s ability to filibuster presidential appointments, in an effort to move to a vote on the nomination of Richard Cordray to a five-year term as director of the Consumer Financial Protection Bureau.

WASHINGTON – A bipartisan group of senators proposed legislation that would reinstate the Depression-era Glass-Steagall Act, separating commercial banking from investment banking.