Thu.Jun 17, 2021

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Bond Market Forecast for Second Half of 2021

SWBC's LenderHub

The municipal bond market took a wild ride in the first half of the year to near-historic levels of richness versus Treasuries that is rarely seen, and the environment is ripe for the second half of the year to take it even further. The outperformance of municipals in the first half can be attributed to many factors, such as inflation, rising tax rates and an imbalance of supply and demand.

Marketing 139
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Juneteenth bill creates Truth in Lending Act issue

CFPB Monitor

The bill signed into law by President Biden on June 17, 2021 to create the Juneteenth National Independence Day results in an important change under the Truth in Lending Act (TILA) and Regulation Z. Under TILA and Regulation Z, there are two definitions of “business day.” One definition is “a day on which the creditor’s offices are open to the public for carrying on substantially all of its business functions.

Lending 122
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Four Reasons Digital Communications Will Rule in Our Post-Pandemic World

Jack Henry

To say we’re living in unprecedented times would be an understatement. Thanks to a global pandemic, it seems like just about everything has changed, from social norms to travel to where and how we work. While we’re not out of the woods yet, we do seem to be settling into new ways: a post-pandemic world, if you will. And thanks to the latest technology, many businesses, including banks and credit unions, have the tools to adapt and even thrive in a remote world.

Tools 88
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US central bank digital currency faces congressional scrutiny

BankInovation

The design of a potential U.S. central bank digital currency (CBDC) remains a topic of debate, as made clear at a Tuesday hearing of the U.S. House Committee on Financial Services?Task Force on Financial Technology. Witnesses at the virtual hearing discussed the need for a CBDC and noted the automation possibilities that might accompany a digital dollar issued by the Federal Reserve.

US 98
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Digital Transformation: Accelerating ROI and Growth in Commercial Lending

Now is the time for lenders to prioritize their digital transformation initiatives in preparation for the lending rebound. Rising competition and ever-increasing customer demands for speed and efficiency are forcing financial institutions to embrace digital transformation. This shift can feel overwhelming—where do you begin? This infographic illustrates automation demands and shows you how loan document automation serves as an essential step to increase profits and provide the best lending exper

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The Big Tech In Fintech Report: How Facebook, Apple, Google, & Amazon Are Battling For The $28.2T Market

CB Insights

The adoption of fintech apps has skyrocketed throughout the Covid-19 pandemic, spurring further growth and investor interest in this category. Fintech had one of the most successful quarters in history in Q1’21 , with record deals, funding, exits, and mega-rounds. . Eager to turn the ongoing fintech boom into an advantage, big tech companies (Facebook, Apple, Google, Amazon) have been taking a number of strategic steps to grow their market share in financial services.

Google 100

More Trending

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D.C. federal district court stays CSBS lawsuit while OCC reviews framework for chartering national banks

CFPB Monitor

The D.C. federal district court hearing the lawsuit filed by the Conference of State Bank Supervisors (CSBS) seeking to block the Office of the Comptroller of the Currency from granting a national bank charter to Figure Technologies Inc. has entered an order staying the lawsuit. On June 15, CSBS filed an Unopposed Motion to Stay Litigation in which it referenced Acting Comptroller Hsu’s testimony to the House Financial Services Committee last month in which he indicated that the OCC is currentl

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JPMorgan buys digital wealth firm Nutmeg for UK expansion

BankInovation

JPMorgan Chase & Co. agreed to buy U.K. digital wealth manager Nutmeg Saving and Investment as it seeks to expand its mobile banking service for retail investors in the country. Nutmeg has more than 140,000 customers and manages over 3.5 billion pounds ($4.9 billion) of assets, according to a statement from the U.S. bank Thursday. […].

Retail 98
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Nevada and New Mexico State Medical Debt Collections Laws to Take Effect July 1, 2021

CFPB Monitor

State legislatures in New Mexico and Nevada enacted laws this session targeting medical debt collections. Both laws have been signed by the states’ Governors and take effect July 1, 2021. New Mexico Patients Debt Collection Practices Act . The New Mexico Patients Debt Collection Practices Act places a number of requirements on health care facilities and debt collectors and buyers.

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The buy now, pay later trend heats up

BankInovation

The buy now, pay later (BNPL) boom, which uses technology and alternative credit risk evaluations at points of sale for instant credit decisioning, is a trend JPMorgan Chase is taking seriously, CEO Jamie Dimon said Monday. “Buy now, pay later in the United States, I think, is about $50 billion. It’s growing unbelievably rapidly,” Dimon […].

Trends 98
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The State of Automation in Financial Services 2024 Report

In this report, you’ll find a comprehensive analysis of survey responses from executives at banks, credit unions, and insurance companies concerning their organization’s current and future use of automation. The report’s key insights include: Which types of automation are saving organizations the most time and money How to overcome the biggest barriers to automation implementation and adoption Why automation investments will continue to grow over the next few years How much you could save in 202

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CFPB to resume examinations for Military Lending Act compliance

CFPB Monitor

In another action demonstrating that a “new CFPB” is in place under the Biden Administration, the CFPB has issued an interpretive rule setting forth the basis for its determination that it has authority to examine institutions that it supervises for Military Loan Act (MLA) compliance. In 2018, under the leadership of former Acting Director Mulvaney, the CFPB stopped examining its supervised institutions for MLA compliance on the ground that it did not have the requisite statutory authority.

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15 Indian banks get together to form blockchain trade finance consortium

The Paypers

A consortium of 15 banks have created a blockchain trade finance consortium called the Indian Banks’ Blockchain Infrastructure Co (IBBIC), targeting domestic Letters of Credit.

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This week’s podcast: Websites as “places of public accommodation” under Title III of the Americans with Disabilities Act (ADA): a deep dive into the legal and regulatory issues facing businesses

CFPB Monitor

After reviewing a brief history of the ADA and the U.S. Department of Justice’s (DOJ) interpretation that Title III’s public accommodation accessibility requirements apply to websites, we look at DOJ’s approach to enforcing the ADA during the Biden Administration. We also review recent ADA litigation trends, the 11th Circuit’s landmark Winn-Dixie decision and its likely impact on future ADA litigation, how businesses are approaching ADA compliance in the absence of clear DOJ guidance setting a

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Declining Demographics and the General Cyclicality of Concerns

TrustBank

As a Senior Client Portfolio Manager, I frequently have conversations with people who have concerns about economic issues that “everyone knows will occur.” This happens to be one of the things that keeps life interesting for me and what I enjoy most about this role. The narrative is full of plot twists, as what is often expected to occur frequently does not.

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Why Is CRE Lending Stuck in the Past? Top 3 Reasons for Digital Resistance

Commercial lending is on the verge of a resurgence, but traditional processes are an obstacle. Explore the top 3 reasons for resistance to digital transformation and how overcoming them can pave the way for growth and efficiency. Discover why embracing automation and digital solutions is crucial for success in today's competitive landscape. Discover how GoDocs helps commercial lenders in the digital era with seamless integration and a borrower-focused approach.

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Payment Methods and Fraud: Are Too Many Schemes a Bad Thing?

FICO

In the build-up to Euro 2021, the countries of Europe hold their breath, experience sleepless nights and cold sweats in anticipation of the trials and tribulations of a football tournament. This led me recently to a ‘once in a blue moon’ purchase – England shirts for myself and the family – and I was frankly shocked to see the number of payment mechanisms and BNPL (Buy Now Pay Later) schemes offered.

Fraud 52
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Eagle One Federal Credit Union 60-Month CD Offers Competitive Rate

BankDeals

Eagle One Federal Credit Union (DE, NJ, PA) is currently offering a competitive rate on its 60-month Share Certificate ($500 min). Also available as an IRA Certificate.

NJ 52
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Conotoxia enables multi-currency card payments in Google Pay and wearables

The Paypers

Poland-based multi-currency card payments proider Conotoxia has launched a feature allowing users to make contactless payments with their phone and smartwatch, among other options.

Cards 53
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Banks, consumer advocates unite against tax reporting proposal

American Banker

Taxes 101
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Register Now: Sneak Peek Into Close Automation SkyStem Web Demo

Technology is rapidly changing the way accountants perform and manage month-end activities. Spreadsheets, email, and shared drives no longer have to slow us down. Join us as we present a "sneak peek" recorded demo of SkyStem's month-end close solution – ART. In under four weeks, your team can start reaping the benefits of month-end close automation by vastly reducing spreadsheets, cut down on reconciliation work, speed up the month-end close, and better manage your remote team.

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Axo acquires Denmark-based LendMe

The Paypers

Nordics-based personal finance products distributor and Corsair -backed Axo has announced the acquisition of tech-enabled loan broker LendMe , according to the official press release.

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Sequoia Capital-Backed FamPay Raises $38M For Its Teenager-Focused Payments App

CB Insights

FamPay , a payments platform for teenagers, has raised $38M in a Series A. The round drew participation from Sequoia Capital India, General Catalyst, Elevation Capital, and Y Combinator, among others. How’s the company performing? Bangalore-based FamPay provides a mobile payments card and app for teenagers under parental supervision. Parents can set transaction limits.

Capital 41
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Lenders should do more to alert homeowners of flood risks, lawmakers say

American Banker

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Bank of Hope Offers $500 Checking Bonus In Seven States

BankDeals

Bank of Hope is currently offering a $500 bonus when opening a new checking account now through 9/30/2021. Offer available in 54 CA, IL, NJ, NY, TX, VA, and WA.

NJ 40
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Top 10 Benefits of Automating Loan Modifications for Commercial Lenders

Get ready for the wave of $1.2 trillion in commercial debt maturing in the next 24 months with GoDocs' ModDocs® platform. Traditional loan modifications are slow, expensive, and prone to errors, which put lenders at risk. But with ModDocs®, you can enjoy an innovative solution that eliminates attorney fees, allows on-the-fly loan modifications, and ensures compliance.

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An app that helps people with autism navigate challenges of banking

American Banker

Mobile 94
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Templagy raises USD 60 mln for its B2B SaaS platform

The Paypers

Templafy , a B2B SaaS platform that does business document creation, has raised a USD 60 million D round of funding led by Blue Cloud Ventures.

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How Europe's open banking law is helping small businesses

American Banker

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Gr4vy completes its PCI Level 1 certification

The Paypers

Gr4vy , a US-based payments platform, has announced the successful completion of its PCI Level 1 certification.

US 48
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2024 Lending Outlook: Innovations and Evolutions in the Financial Sector

As we step into 2024, the lending landscape evolves rapidly with technology, regulations, and market dynamics driving change. For banks and financial institutions to stay competitive and meet the evolving needs of their customers, these drivers must be understood and engaged with. Lenders can anticipate significant transformation fueled by technological advancements, regulatory shifts, and changing consumer behaviors.