Lawsky to Banks: Speed Up Payments Innovation — Or Else
Benjamin Lawsky, New York's top financial regulator, sharply criticized banks for their failure to speed up the payment system, warning that the government may step in if they continue to lag behind.  more »
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The Financial Crimes Enforcement Network, a division of the Treasury Department, has assessed a $1 million civil penalty against MoneyGram International's former chief compliance officer.  more »
Discover's lawsuit this week against Visa stems from years of practices that have their root in the Durbin amendment's debit-routing mandates, and Visa will likely have several ways to counter its rival's allegations.  more »
Despite the many high-profile breaches that occurred over the past year, too many businesses have not adopted strong security practices and as many as a third don't have a clear understanding of where their sensitive data is stored or how it is protected.  more »
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