On October 11, 2017, a draft bill of National Institute of Standards and Technology (NIST) Small Business Cybersecurity Act was approved the U.S. House of Representatives....
A consortium of U.S. trade interests has brought court action against the beleaguered federal consumer protection regulator in an attempt to strike out its incoming arbitration rule.
U.S. financial firms are grappling with legal uncertainty as the Senate dithers over the Consumer Finance Protection Bureau’s controversial arbitration rule, dividing their energies between...
U.S. legal experts have praised efforts to bring the country’s anti-money laundering regime into the 21st Century, after a draft bill suggested widespread reforms to transaction monitoring and...
A recent memo suggesting that the Consumer Financial Protection Bureau (CFPB) could have brought a $10bn penalty against Wells Fargo for recent violations has come to light....
Federal regulators are telling U.S. financial institutions, especially those located in south Florida and Texas, to be aware of Venezuelan officials trying to move or hide illegal assets.  
Legal experts are advising U.S. lawmakers and financial institutions to turn their regulatory attention to a more intelligent focus on smaller transactions, rather than singling out only large...
On September 6, 2017 the U.S. Federal Reserve published a report titled "Strategies for Improving the U.S. Payment System: Federal Reserve Next Steps in the Payments Improvement Journey", which...
Payment processor Square is formally applying to be established under the Industrial Loan Charter (ILC) in the U.S., a form of banking license, prompting mixed reactions from commentators.
Although the new faster payment system in the United States has been touted as an industry-led effort from its inception, a new paper makes clear that authorities will maintain a firm involvement...
Federal authorities have revealed that a Utah-based criminal enterprise used shell companies to exploit acquirers and card schemes, processing more than $3m obtained through telemarketing scams.
The U.S.’ largest bank has promised to repay nearly $1m to users of its online bill payment service, after a new review showed last year’s cross-selling scandal was more widespread than initially...
David Sapenaro was named as the new director of payments strategy at the U.S. Federal Reserve last week; in this exclusive interview with PaymentsCompliance he lays out the authority’s vision for...
Reputational risk could pose a regulatory threat to payment providers, legal experts have warned, after multiple firms took steps to disassociate themselves from political tensions in the U.S.
American Express has been fined $1m and ordered to pay $95m in redress to consumers after being accused of providing inferior card terms in Puerto Rico, the U.S. Virgin Islands and other territories.
Operation Choke Point has been ended by the Trump administration, but legal experts are doubtful its absence will ease compliance obligations on banks and payment processors.

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