Legal issues and news

Merchants won an extension to comply with PSD2’s new customer authentication rules, but as new rules for issuers go into effect next week, TSYS is rolling out tools that aim to do double duty.

The Supreme Court may be closer to examining a key restraint on a president's ability to change CFPB leadership.

Credit decisions were a natural place to start with artificial intelligence, but now banks and credit unions are taking the technology to all parts of their businesses.

The company says its exposure involves a participation loan to a business customer for which it was the originator.

Swiss financial regulator Finma said Libra would need a payment system license and would be subject to additional rules to take “bank-like” risks into account. The “highest international anti-money laundering standards” would also need to be applied, it said in a statement on Wednesday.

The unnamed borrower was the victim of an alleged scam by another company.

Speaking during NAFCU's Congressional Caucus, a leader from the U.S. Department of Treasury said credit unions can help the agency improve how consumers are notified in the event of a data breach.

Static fraud prevention has no place in the current digital world, says Accertify's Stuart Mann.

When the former vice president and Massachusetts senator appear together in Houston, they could present two contrasting visions of financial policy within the presidential field.

The former Fox News host told credit union leaders they risk becoming a casualty of the #MeToo movement if they fail to update their sexual harassment guidelines.

Public orders are an effective way to discourage violations of consumer protection law, the bureau's director said at a credit union conference.

It's not on consumers to fix this problem, says NuData Security's Justin Fox, who argues organizations must get more cooperative and proactive to improve authentication.

The six biggest banks are expected to issue disappointing forecasts as rates continue to decline; technology stock mutual funds scored with payment plays.

Enterprise payments remain a complex litany of disparate processes burdened by fraud, labor and errors, says Troovo's Kurt Knackstedt.

Prosecutors are investigating the involvement of Ashton Ryan and another executive in the New Orleans bank's 2017 collapse, a federal judge recently wrote in a decision on a related matter.

U.S. counterfeit card losses have plummeted in the past four years, a signal the challenging EMV migration has made a dent.

There's equal importance on encrypting data and securing the server, says STEALTHbits Technologies' Adam Laub.

Many futurists and pundits predicted email would be obsolete by 2020, replaced by a new, superior communication channel.

The equation is no mystery to those in payments or financial services: Expand your digital footprint, and you expand the opportunities for hackers to damage your network.

With legal questions still lingering, the regulator said it will begin accepting applications from credit unions looking to take advantage of its revised field of membership rule but did not specify when it would take action on those submissions.