Compliance

The Reserve Bank of India says the card brand failed to comply with a requirement to store transaction details locally. The handling of payment information has become a point of contention between the Asian nation and American firms.

The global company says that a quicker-than-expected economic recovery is creating some opportunities to invest in businesses that will generate returns over time.

Income share agreements, which allow college graduates to repay tuition financing as a percentage of their future income, have come under fire lately from consumer advocates for questionable marketing and other potential legal violations. Some hope a partnership between a Virginia bank and an ISA provider will give the product more legitimacy, while others worry it just masks risks for borrowers.

The economic forces driving dealmaking will overcome any regulatory risk posed by the president's call for stricter vetting of bank merger applications — especially among community banks, experts say. The White House push could even nudge some executives to cut deals sooner.

Credit unions have gotten stronger support from their regulators to do business with pot companies, but banking agencies are showing signs of softening just as more states legalize marijuana.

The National Credit Union Administration will distribute the funds to 1,800 credit unions to resolve the failure of three corporate credit unions in the wake of the financial crisis. It is the third such payment the regulator has made within the past year.

The approval broadens Excel’s membership to anyone in Gwinnett, Hall, Forsyth and Fulton counties.

The House has passed legislation that would make financial institutions report credit application data relating to LGBTQ-owned businesses to the Consumer Financial Protection Bureau for the purposes of enforcing fair lending laws.

U.S. regulators blocked the card network's attempt to buy Plaid last year for antitrust reasons. Its bid to acquire Tink, a similar company based in Sweden, may have a better shot given European officials' desire to promote open banking.

A European Union regulation that promotes data sharing among banks and third parties is making it easier for neobanks like Tide and Monese and other companies to help small merchants track their cash flow and access credit.