The U.S. payments industry has long agreed to disagree on the way to properly route EMV debit transactions, stalling the country's shift to chip-based cards. First Data hopes its decision to support and share Visa's technology will finally break the stalemate.

WASHINGTON -- Comments on NCUA's new risk-based capital proposal, now published in the Federal Register, are due May 28, according to CUNA.

Chances are remote that Congress will pass a big bank tax into law this year, but House Republicans' sudden embrace of the idea suggests it has staying power.

Sen. Joe Manchin (D-W.Va.) wants federal regulators to ban Bitcoin.

JPMorgan Chase is the first bank to adopt a new, standardized disclosure box for its prepaid cards that was developed by Pew Charitable Trusts.

Visa Europe Ltd.'s pledge to reduce credit-card fees was accepted by European Union regulators in a settlement that ends an antitrust probe that dates back more than a decade.

Credit unions should expect new Consumer Financial Protection Bureau rules on mortgage closings and credit reports this year, a panel at CUNA's Governmental Affairs Conference warned attendees Tuesday.

WASHINGTON — The Federal Reserve Board will release the results of the latest round of stress testing exercises of the largest U.S. banks next month, the agency said Tuesday.

WASHINGTON -- The NCUA's risk-based capital rule, along with new regulations coming out of the Consumer Financial Protection Bureau, may threaten credit union growth and even the future of some institutions, say a number of CU executives attending CUNA's Governmental Affairs Conference here.

Recently released transcripts of Federal Reserve meetings during the last financial crisis reflect how blind policymakers remained to what was unfolding even at its peak. That suggests the Financial Stability Oversight Council’s efforts to sound an early warning next time around are reminiscent of Charlie Brown hoping Lucy won’t pull away the football.

WASHINGTON -- Citing recent challenges from the economy and those that lie ahead, NCUA Board Member Michael Fryzel told CUNA Governmental Affairs Conference attendees that collaboration will be a key to the continued success of the movement.

WASHINGTON -- Likening his role as an NCUA Board member to that of a CU director, Richard Metsger urged volunteers at CUNA's Governmental Affairs Conference to make sure their credit union remains relevant to members.

Risk is like water, seeking the path of least resistance. If the path is narrowed, risk does not necessarily evaporate, as regulators wish, but often focuses as a more concentrated force. Accepting this alternative concept of risk has far-reaching policy consequences.

The chamber is scheduled to consider legislation this week that would drastically alter the structure of the Consumer Financial Protection Bureau.

Regulators are facing mounting pressure from lawmakers and the financial industry to address ongoing concerns about the treatment of collateralized loan obligations under the Dodd-Frank Act, which critics warn could effectively destroy the market.

Continued focus on this single, but complex Dodd-Frank provision will distract bank managers and regulators from finding ways to make the global financial system healthier.

WASHINGTON -- NCUA is part of a new working group that includes members of law enforcement, intelligence communities and other financial services regulators, to better understand the cyber threats and vulnerabilities facing banks and credit unions.

Prohibiting future ownership of unstable CLOs is probably a good thing. Forcing a select group of banks, however, to sell these assets over a short time is not the optimal solution.

Bankers, industry representatives and other experts largely praise the FDIC's plan to unwind troubled behemoths, but suggest a host of issues that the agency needs to address before it can ensure the end of "too big to fail."

NAPERVILLE, Ill. -- The decision by the Illinois Credit Union League to ban volunteers from its board of directors last year has been panned by some in the community, but a league representative said it was a necessary step approved by delegates.