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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.
Since fraud liability shifts to the least compliant party after the network-mandated EMV migration dates, it is critical that financial institutions migrate all channels, including ATMs.  more »
While PayPal deals with Consumer Financial Protection Bureau probes related to its consumer credit products, one of the company's founders is forging ahead with a company he created to develop its own consumer credit service for e-commerce.  more »
FinTech Forward
Starbucks' Mobile Pay Updates Win Over New Audiences
The ubiquitous coffee chain is making new inroads with its mobile payments app, and its success underscores how nonbanks can outdo banks at their own game and should be watched closely by banking industry participants.  read more »