Compliance

As the Federal Credit Union Act turns 85, industry figures are working on issues related to executive compensation, UDAAP and more, all while girding for a slowdown in membership and loan growth.

Credit union executives discussed serving the legal marijuana and hemp businesses during NAFCU's annual conference in New Orleans, including vastly different motivations for serving the industry.

Facebook is focusing the initial discussions around its cryptocurrency project as a preemptive strike against the privacy and legal concerns the public and politicians have about the huge social network.

The National Credit Union Administration's controversial risk-based capital proposal could see further delays or changes as thousands of industry professionals head to CU conferences across the country.

A huge portion of European companies will not clear PSD2's regulatory hurdles for digital connections between banks and payment apps, but that hasn't slowed down some companies that see value in open banking and payments.

India’s government has taken drastic steps to encourage and standardize digital transactions, and those moves appear to be paying off.

By making sure their payment processing solution is compliant, they can save themselves the hassle of declined payments and make sure they’re capitalizing on the expansive European e-commerce market, writes Ralph Dangelmaier, CEO and board member at BlueSnap.

Credit unions have a busy week ahead of them in Washington, including more than half a dozen bills that could impact the industry.

PayPal and Mastercard are independently making high-profile moves to shore up gaps in open banking and data compliance, and both companies are downplaying any competitiveness.

Santander Bank and Santander Consumer USA have put many problems behind them in recent years under CEO Scott Powell, but he still has a Federal Reserve enforcement action to resolve and is negotiating with Fiat Chrysler to preserve a crucial auto lending relationship.

It's a multibillion-dollar industry in a state of payments-regulation limbo and as a result, the U.S. cannabis business has mainly operated on a cash basis.

In stark contrast to his predecessor, C. Allen Parker said Thursday he accepts regulators' criticism and suggested that the bank may struggle to achieve revenue growth until it moves past its regulatory woes.

Its CEO says organic growth is preferable, but after spending five years tackling a series of enforcement actions tied to BSA compliance, the Pennsylvania bank has options.

The revised statute provides clarity on director travel, supervisory committees, conservatorship and more.

Even though the General Data Protection Regulation has put data security and privacy top of mind throughout Europe in its first year, it is not likely the U.S. will see a similar federal mandate anytime soon — if ever.

During its monthly meeting, the National Credit Union Administration board also approved a proposal to increase CU access to non-member deposits, a move bankers are already railing against.

A closer look at a new plan from the Department of Labor still finds room for improvement, but is generally seen as markedly better than Obama-era rule that was rejected at the last minute.

More than 5,500 credit unions will receive a dividend this week, the second time in two years the agency has returned funds to the institutions it regulates.

Regulators placed the $3 billion-asset institution into conservatorship less than a year after the New York City-based CU fired President and CEO Kam Wong in the wake of embezzlement charges.

National Credit Union Administration Chairman Rodney Hood’s testimony Thursday was reportedly the first time in three years the agency has appeared before the House Financial Services Committee.