Compliance

Board Member Todd Harper was the lone dissenting vote on the rule, saying it was a "bridge too far." Lawmakers and consumer groups have also spoken out against it.

The agency put to rest speculation that it might take the database offline, yet new disclosure statements are meant to combat the notion that a complaint proves a company’s guilt.

The agency put to rest speculation that it might take the database offline, yet new disclosure statements are meant to combat the notion that a complaint proves a company’s guilt.

Congress is in session, but actions at NCUA, FASB and more will dominate the upcoming week in Washington for credit unions.

Even though security vendors and payments providers are telling merchants they are ready to provide compliance for PSD2 on Sept. 14, a significant challenge remains in the learning curve and technology needs for merchants.

Merchants won an extension to comply with PSD2’s new customer authentication rules, but as new rules for issuers go into effect next week, TSYS is rolling out tools that aim to do double duty.

FIS has partnered with ControlScan to give its growing number of payment facilitators’ “sub-merchants” a streamlined path to comply with the Payment Card Industry Data Security Standard.

Brexit, the U.S.-China trade war, and warning signs of a recession are pressuring cross-border supply chains, accelerating the impetus to streamline payment processing for transactions that are still relatively large, recurring and paper-based.

As credit union leaders converge on Washington, here's a look at some of the biggest legislative and regulatory issues facing the industry – and what it might take to move the needle.

Many in the payments industry insist that cash is becoming less important — but that doesn't mean it will ever go away.

One of the world’s largest cryptocurrency exchanges said it has learned a valuable lesson from the push back on Facebook Inc.’s Libra and will take a different approach as it works on a rival project.

The Clearing House has been quite clear that it did not think the Federal Reserve's FedNow real-time settlement service would be necessary. But some of its executives are rethinking that stance.

Processors that rely on cross-border payments to reach new territories are feeling the economic squeeze of the looming Brexit deadline.

Deutsche Bank confirmed that it has tax returns requested by U.S. lawmakers seeking financial information for President Trump and his family. Whose returns are those? That's still a secret.

With lawmakers unlikely to act in the near future to ease financial institutions' regulatory burden, new technologies could be the solution to credit unions’ AML woes.

It's unclear whether the Trump administration can or will declare a national emergency as part of the trade dispute between the U.S. and China, but the discourse alone could disrupt major business relationships that involve American retailers, payment companies and Chinese firms.

Mastercard Inc.’s European unit formally notified Belgian and German data-protection regulators of a data lapse concerning a loyalty program, officials said on Friday.

The Financial Action Task Force’s recent guidance on data privacy regulations should serve as a warning to companies planning to test virtual currencies.

Banks, for the most part, have not advanced their core digital technologies as quickly as payments networks and disruptors ahead of the original PSD2 deadline. And the European Banking Authority has also cited the payments networks for not advancing the 3D Secure 2.0 online authentication model far enough to comply with PSD2 provisions.

More U.S. states are legalizing sports gambling, providing a huge opportunity for payments companies that have been fattened by multibillion-dollar mergers.