Compliance

Mastercard and Worldpay are embarking on a strong push to promote Mastercard's Pay by Bank system, which will likely face a deluge of competition under the updated Payment Services Directive (PSD2), which took effect this year.

India's regulatory approach shows it's serious about supporting myriad international payment technology plays, in contrast to China's doing the bare minimum to satisfy international pressure for openness.

CUNA and NAFCU have asked the bureau to stop publishing consumer complaints and allow NCUA to handle that process for credit unions.

Overreliance on the smartphone risks mistaking device authentication for user authentication.

As technology advances for business-to-business or cross-border transactions, the accompanying messaging standard must evolve at the same rapid pace.

The Canadian government is consulting with the country’s banking industry on opening up Canada’s payments infrastructure to nonbank payment service providers and fintechs, in a far-reaching move to spur innovation and competition.

The New York State Department of Financial Services report recommended putting online lenders on a more equal playing field with traditional firms.

In forming a new task force to protect consumers from fraud, the Trump administration made clear that one of the greatest threats to the public is just emerging: red-hot markets for crypto coins.

The U.S. Securities and Exchange Commission is putting its weight behind allegations of insider trading that Heartland Payment Systems has levied against its former CEO.

Echoing the set of restrictive rules known as GDPR enacted earlier this year by the European Union, the state legislation — which does not take effect until 2020 — will almost certainly be the subject of intense lobbying from business giants that vacuum up all the data.

The U.K.’s Rural Payments Agency has long been renowned for its inefficiencies in processing timely and accurate financial support payments to farmers across the country. But now industry figures expect Brexit will lead to an improvement in performance due to a loosening of the EU-driven bureaucratic regulations.

International banks are also having to adapt to a raft of regional payment and data regulations that impact their operations in certain territories significantly but in others only negligibly, according to Russell Bennett, chief technology officer of Fraedom.

The GDPR doesn’t mandate how data requests should be made, but it does say that organizations handling personal data should be prepared to handle the requests. One would be right to wonder whether companies are as prepared as they should be.

This week's ruling from a U.K. appeals court is the latest of many episodes in a battle between merchants and card brands that has influenced regulations, technology, market strategies and nearly all other aspects of the payments ecosystem.

The Consumer Financial Protection Bureau's practice of "regulation by enforcement" and use of nonbinding guidance materials makes its regulatory efforts "unfair and ineffective" to lenders and servicers, the Mortgage Bankers Association said.

India’s top court refused to overturn a central bank ban on lenders from dealing in cryptocurrencies, a move that effectively outlaws the nascent industry in Asia’s third-largest economy.

The company continues to be restricted from pursuing acquisitions until the Federal Reserve lifts its enforcement order requiring it to strengthen anti-money-laundering controls.

Upon LMPOCU's liquidation, Commonwealth Credit Union assumed membership and all assets of the shuttered institution.

As Nvoicepay expands, the payment automation company is keeping an eye on how it may fall under European data rules that have a knack for requiring compliance even from companies that should be exempt.

Trade associations hail move that would push back implementation of risk-based capital rule to 2021.