Compliance

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.

New legislation in the Mountain State could clear the way for credit unions to accept funds legal pot shops' license fees.

With the National Credit Union Administration board at full strength for the first time in years, here are three areas where the panel can make a big difference for CUs early on.

Legislation banning shops from refusing to accept cash has moved swiftly this year. But this trend is running head-on against retail models like Amazon Go, which are built from the ground up to operate without cash.

Bank technology giants FIS and Fiserv are spending nearly $66 billion between them in just the past few weeks to add a broad swath of payments technology — including a few key nuggets that will help them go toe to toe with fintechs.

Given the size of the deal — which includes about $9 billion of Worldpay’s debt on top of a $34 billion bid — the pressure’s on to build a global powerhouse that can counter other major fintech mergers announced in the past weeks. FIS must also emerge as a nimble rival to the startups that threaten the old order.

Mastercard Inc. is concerned that India’s strict data localization rules could compromise its ability to detect frauds and money laundering in the domestic payments system.

Revised legislation would exclude credit unions from Community Reinvestment Act requirements, but could make the National Credit Union Administration the de facto enforcer of how CUs meet the needs of underserved markets.

Federal regulators normally hesitate even to name specific institutions, but the Office of the Comptroller of the Currency appears to be taking a different tack with Wells.

The U.S. is considering sanctions that would effectively prohibit Visa Inc., Mastercard Inc. and other financial institutions from processing transactions in Venezuela, an administration official said, a step aimed at cutting off funds to Nicolas Maduro’s regime.

After forming a series of high-profile partnerships with various payments service providers, China's UnionPay International has declared its plan to challenge Visa and Mastercard’s duopoly of the U.K. card industry.

The regulator's governing body has been short-handed since former chairman Debbie Matz stepped down in April 2016.

The National Credit Union Administration board held its monthly open board meeting Thursday – likely board member Rick Metsger's last hearing with the panel before two new members join.

After more than two years of successful operation in delivering Same-Day ACH payments, Nacha's request to add a third processing window has been delayed by the Federal Reserve, which says it has to obtain public comment on the concept.

Jenifer Swallow has been here before, feeling the excitement of being in in an industry that was about to change commerce forever.