Compliance

The regtech firm Arachnys, which in 2010 entered a field dominated by established data providers, recently raised $10 million after gradually building a collection of 23,000 data sources that helps bankers protect themselves from money launderers and other criminals.

California will be the first state requiring public companies to meet gender quotas for their boards of directors, and women in the payments industry see the move as positive — with some caveats.

An examination of industry sales tactics conducted after the Wells Fargo scandal found that credit card accounts (not checking or savings) were the largest source of account openings without customer permission.

Visa Inc. and Mastercard Inc. agreed to pay as much as $6.2 billion to end a long-running price-fixing case brought by merchants over card fees, the largest-ever class action settlement of an antitrust case.

The nation's fifth-largest bank on Monday rolled out a three-month consumer loan that is far less expensive than the typical payday loan. The move comes as regulators are encouraging banks to reach out to the subprime market, which they largely abandoned.