Opening the door for banks to offer non-branded PIN debit cards and even mobile wallets, the Debit Network Alliance is developing its own application identifier for routing transactions from EMV-chip cards.

The celebration that accompanied China's loosening card regulations is premature. It's wishful thinking that Visa and MasterCard easily be able to capture a percentage of the humongous China market.

Senate Banking Committee Chairman Richard Shelby announced Friday he was pushing back a planned vote on regulatory relief until May 21. The move came just after panel Democrats said they would oppose the bill because they had not yet seen it.

Senate Banking Committee Chairman Richard Shelby announced Friday he was pushing back a planned vote on regulatory relief until May 21, a week after it was initially scheduled.

The Consumer Financial Protection Bureau and the Department of Justice are taking a renewed interest in redlining, the practice of lenders charging more for products or excluding altogether minorities within certain geographic areas — and their findings may be surprising.

Visa Inc., the world's largest payments network, is in preliminary talks to buy former subsidiary Visa Europe Ltd. in a deal that may be valued at as much as $20 billion, people with knowledge of the matter said.

WASHINGTON — All 10 Democrats on the Senate Banking Committee sent a joint letter Friday that said they plan to oppose a regulatory relief bill scheduled for a panel vote next week since Republicans have not yet provided legislative language to all members.

Trading of securities backed by Fannie, Freddie and Ginnie is down sharply since the beginning of the year. Bankers' concerns about capital and rates are among the reasons, and the problem may ultimately make the underlying market for mortgages less liquid.

While startups across the globe focus on building new payments technology, countries may fare better by recycling their old technology when building a national infrastructure for faster payments.

The good news is that EMV is very effective at preventing the use of counterfeit credit/debit cards at the point of sale (POS), commonly referred to as card-present (CP) fraud.

Payments technology tester and certifier Fime will serve a one-year term to represent the technical associates program on the EMVCo board of advisors.

WASHINGTON — Sens. David Vitter, R-La., and Elizabeth Warren, D-Mass., introduced legislation Thursday that would make several changes to the Federal Reserve Board and its powers.

A statement by a foreign regulator that it might penalize banks that drop businesses due to heightened supervisory risk has spooked U.S. institutions who worry domestic agencies could follow suit.

The regulators have spelled it out: If a bank wants relief from onerous compliance requirements, a path to get there is to use simple, basic practices for credit risk management.

Ocwen Financial failed a test to determine whether it had notified borrowers of missing or incomplete documents for loan modifications in a timely manner, according to the national mortgage settlement monitor.

Internal Revenue Service examiners are conducting bank-like exams of virtual currency firms for possible anti-money laundering violations, Financial Crime Enforcement Network Director Jennifer Shasky Calvery said May 6.

Four former officers of Wilmington Trust have been charged with fraud by the Securities and Exchange Commission, which accused the bankers of intentionally understating past-due loans in 2009 and 2010. Two of the bankers face criminal charges.

While the penalty is a blow to Ripple Labs, it could have significant implications for the industry at large and its efforts to legitimize itself in the eyes of regulators and banks. Here's how:

The CFPB found that more than 26 million consumers are effectively "credit invisible" because they have no credit record and another 19 million are "unscored" because they have an insufficient or stale credit history. But it's unclear how the CFPB plans to tackle the issue.

Digital currency firm Ripple Labs just made history—but not the kind it's been hoping for.