Compliance

Following its own economic downturn that required bailouts by Saudi Arabia, Kuwait and the United Arab Emirates, Bahrain’s governors hit on an economic recovery plan that includes turning the tiny nation into a global payments hub.

The Evergreen State is the latest to make a push to modernize the rules governing state-chartered credit unions.

Amazon Go is caving to rising pressure from cities and states banning cashless stores and planning to introduce cash-acceptance to a model whose entire premise was about eliminating the friction of checkout with a seamless, card-based checkout.

China signaled its intent to ban cryptocurrency mining, dealing a fresh blow to an industry buffeted by tumbling virtual currency prices, stiff competition and waning investor interest.

Along with amendments to the Bank Secrecy Act, the Taxpayers First Act could help credit unions maintain their tax-exempt status.

Hood was recently confirmed to the board after having previously served with the regulator from 2005 to 2010. He takes over for Mark McWatters, who often generated controversy.

Because various aspects of the General Data Protection Regulation were made public two years before they became official law, European lawmakers naturally felt it gave companies plenty of time to get data security compliance in place. But it appears most companies either lost track of time or haven't solved the compliance puzzle yet.

Since Wells Fargo’s phony-accounts scandal broke in 2016, the bank has appeared contrite in public. In private, it’s a different story.

The speed of technological change is forcing Britain’s retail payments authority Pay.UK to redesign its core infrastructure.

Visa’s proposal to buy Earthport — which already survived a brief bidding war with Mastercard — is getting a closer look by the U.K.’s antitrust watchdog group.

FIS’s $43 billion agreement to acquire Worldpay and Fiserv’s $22 billion deal to buy First Data are largely closing the gaps between financial technology and merchant acquiring. But these mergers are only the first of many steps.

The National Credit Union Administration liquidated the $21 million-asset institution after determining it was "insolvent with no prospects of restoring viable operations."

The bank's decision to select its general counsel as successor to Tim Sloan, albeit on a temporary basis, focused attention on its frayed relationships with the Federal Reserve and the OCC.

U.S. lawmakers are not enthusiastic about the cashless trend being driven by the likes of Amazon Go, sweetgreen, and numerous other merchants of all sizes.

MoneyGram is investing more time and technology in helping law enforcement agencies spot the scammers moving money on its network.

The new Apple Card wasn't just one product of many announced at the Steve Jobs Theater on Monday — it was the glue that binds all of Apple's new services together.

Sweden will likely push through a proposal to force banks to keep offering cash to customers who require it as the Nordic nation grapples with how to balance the rapid transformation into a cashless society.

Robust public discussion from a diverse array of stakeholders has informed regulators working to reform the Community Reinvestment Act, but it has also included some misleading claims, writes a top OCC official.

The head of the agency said she wants FDIC staff to be proactive with banks that show visible problems, but not “focus more on seeking out dirt than on whether the home is clean.”

Despite some significant advancements in the past two years, rifts are already developing in the U.S. move to faster payments.