Compliance

Rep. Donald Payne, D-N.J., recently introduced the Payment Choice Act in the U.S. House of Representatives to prohibit retail businesses from refusing cash for payments.

Apple’s aggressive posture when it makes moves in retail and payments has drawn a lot of pushback and controversy, but its setback in the Supreme Court could be the most dire threat yet to the growth of Apple Pay.

Apple's App Store was a game changer for mobile payments. But Apple's ecosystem was also very much a digital Wild West, with app developers and Apple itself sometimes running afoul of regulators and legal authorities.

Wells Fargo creates unit to satisfy regulatory demands; U.S. Bank employee fired after blowing whistle on sales scheme, lawsuit says; what BBVA's new U.S. CEO has on tap; and more from this week’s most-read stories.

The industry has long complained that gathering the data is confusing and costly but two plans issued by the CFPB could help lighten the burden for a significant portion of credit unions.

Democratic presidential candidate Bernie Sanders and Rep. Alexandria Ocasio-Cortez accused banks of acting as “modern-day loan sharks” and called on Congress to enact a federal limit of 15% on credit card interest rates.

It is designed exclusively to address concerns of regulators who have complained about the bank's lack of progress in recovering from a series of scandals.

A new study shows credit unions are confident about their ability to comply with recent changes to FinCEN guidance, but a closer look shows some concerns linger, especially regarding training front line staff.

A proposal to give the Consumer Financial Protection Bureau jurisdiction over credit unions with $10 billion or more of assets has sparked a war of words between the longtime foes.

The credit unions, all of them small institutions, will pay a total of $4,069 in penalties for tardy submission of Q3 2018 all reports.

There’s no clear winner yet in the “war on cash,” so investment is flowing into technology that’s designed to accommodate a wide set of payment options that can still take cash along for the ride.

The California company was issued a consent order after it failed to meet the conditions of a January 2018 informal agreement.

Wells Fargo & Co. said it expects to refund certain fees paid on debit-card accounts as it reviews disclosures that may have confused customers.

Transaction fraud, attacks, compliance and political uncertainty are a toxic mix, argues Ian Stone, CEO of Veualta.

The announcement comes after several news reports that Stephen Moore would not back down from his anticipated nomination to serve on the Fed despite growing concerns from Republican senators.

The Department of Financial Services has created a statewide financial protection division focused on corporate compliance and consumer issues, in line with steps taken by New Jersey and Pennsylvania.

Director Kathy Kraninger said the agency will emphasize a confidential supervisory process instead of just doling out public enforcement actions. But skeptics worry this will let companies escape punishment.

Rachel Bryant specializes in risk management, and she applies that framework not only to her job duties, but also to her career path.

The debt collection proposal is expected to address how debt collectors can use text messages and emails to track down debtors.

Banks need to ensure those building new business are driven to look for evidence of illegal activity.