Compliance

The European Union’s General Data Protection Regulation could serve as groundwork for future U.S. rules, so analysts suggest credit unions at least begin working toward compliance.

Trade association combines with state leagues to defend credit unions against ‘predatory’ suits.

What advantages will this new system bring to the U.K. payments market? The U.K. has traditionally struggled to find ways to break the major banks’ monopoly on payments.

To improve bank oversight, policymakers should eliminate overly complex rules in favor of principles-based regulation.

As more small to medium-sized businesses look to international e-commerce markets to boost sales, differences in tax laws can cause complications for sellers—and an opportunity for payment gateway companies offering workarounds.

There are forward-looking regulations that govern the landscape of how personal data gets collected, processed, analyzed, stored, retained, monetized, and accessed by any organization that collects data in the EU. Its goal is the protection of individual privacy and will require a multi-year strategy, according to Bassim Alkhafaji, a partner at Andra Capital.

Payment gateway provider Pelican Group has launched PelicanPay, a new unit of the company, to focus on providing European-wide Payment Services Directive connectivity, payments and financial crime compliance services.

Heartland Payment Systems LLC sued its former top executive, Robert Carr, claiming he used his girlfriend to trade on inside information.

Bittrex Inc., a Seattle-based cryptocurrency exchange that lets users swap nearly 200 different digital coins, said it forged banking agreements that will allow some customers to trade in U.S. dollars.

Speaking at an industry conference Thursday, Wells Fargo CEO Tim Sloan left open the possibility that employees intentionally falsified important regulatory documents.

There’s renewed focus on the relative importance that capital and liquidity should play in regulation, but the discussion misses another measure that should rank higher in bank evaluations.

The $1.9 trillion-asset bank is under pressure to provide investors more information about when it expects to resolve the numerous headaches that have arisen in the wake of its phony-accounts scandal.

We need to rethink how we acquire and manage consumer data, and any business using enterprise software needs to be accountable for how information is being processed, transported or shared, writes Chris Wong, CEO of LifeSite.

Industry consolidation can help boost bank profitability in the short run, but it’s no panacea for the industry’s bigger problems.

The bank sought to evade the consequences of compliance failures including weak scrutiny of transactions that could be tied to North Korea, the N.Y. banking superintendent said in demanding access to communications between the bank and its new supervisor, the OCC.

Volcker 2.0 could bring significant relief for the industry, but will likely fall short of what many had hoped.

Several U.K. businesses have shifted their stance on credit card acceptance in the wake of a new EU law that became effective Jan. 13 — with some providers putting an end to their credit card acceptance altogether.

One expert on call reports offered more than a dozen examples of how credit unions can avoid making common mistakes when filing 5300s with NCUA.

The rules that govern data are changing rapidly, creating confusion for the companies that use blockchain to support payments, as well as potential investment opportunities for third parties that can ensure compliance.

Due diligence in the sometimes shadowy universe of digital money often means trying to unscrew the inscrutable.