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Online Lending And A Tale Of Two Fed Studies

PYMNTS

Online consumer lending – in a variety of forms – has grown explosively over the last decade. The recent release of a study by the Cleveland Federal Reserve has managed to increase the decibel level of that debate. Cleveland’s Dark Outlook. So how did one branch of the Fed end up on such a different page from their counterparts?

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Google Pay Now Supports Cards From 13 More US States

PYMNTS

Ahead of the Fourth of July holiday, Google Pay has rolled out mobile support for cards from 13 U.S. Services like Google Pay must come to an agreement with a credit union or bank before they can support a consumer’s debit or credit card, 9to5Google reported. In December, Google Pay added about 30 new U.S.

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Bank of America To Update Branches In Response To Customer Behavior

PYMNTS

It will also upgrade 16,000 ATMs with new features like paying with phones and the ability to pay credit card bills. As more and more people are handling routine transactions online, banks have been slowly reducing the number of branches they have. There’s also a plan to install 2,700 new ATMs.

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Google Pay Adds 29 US Banks To Mobile Payment Service

PYMNTS

Greater Cleveland Community Credit Union. Also in September, Australia’s ANZ bank added Google Pay for its personal Visa credit and debit card users. The system lets customers make online or in-store payments, all using the mobile app. Community Bank of the Bay. Community First Credit Union (OH). Evans Bank. Federated Bank.

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How Banks Have Adapted Their Digital Banking Systems To Serve Customers During The Pandemic

PYMNTS

Branch visits are vital to customers’ financial lifestyles, despite mobile and online banking’s growing popularity. One bank working to ensure its in-branch systems match its online capabilities is Cleveland, Ohio-based KeyBank , which operates 1,197 branches across the country and handles more than $137 billion in assets.

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Is ‘Embedded Regulation’ The Key To Stablecoins’ Success?

PYMNTS

Among the potential and evolving use cases: private stablecoins can conceivably be adopted as a means of payment for online purchases, peer-to-peer and micro-payments and a range of potential future. Bitcoin and other offerings have not yet evolved into real alternatives to sovereign monetary activities, but stablecoins present challenges.

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Community banks most likely to approve small business loans

Abrigo

Over the first half of 2014, these banks, with an approval rate of just under 60 percent, beat out large national banks (31 percent), large regional banks (45 percent) and online lenders (38 percent). The most popular financing products for which small businesses applied included lines of credit, business loans, credit cards and SBA loans.