Payments Dive

JULY 5, 2023

The move, if true, would mark a 180-degree turn after Goldman and the tech giant extended their partnership until 2029 in October.

Apple 243

Apple Report Cards 243

CFPB Monitor

JULY 5, 2023

The CFPB announced that on July 11, 2023 it will host a hearing on medical billing and collections, with a focus on medical payment products, such as medical credit cards and installment loans. In addition to Director Chopra, the hearing will include agency officials from the White House, the U.S. Department of Health and Human Services, and the U.S.

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Cards Payments 148

Payments Dive

JULY 5, 2023

Fidelity National Information Services had planned to spin off the merchant processing business Worldpay, but multiple news reports suggest control may be sold instead.

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Report National 195

CFPB Monitor

JULY 5, 2023

The CFPB recently issued its annual fair lending report covering its fair lending activity in 2022. In the report’s discussion of the CFPB’s risk-based approach for prioritizing fair lending supervisory and enforcement activity, the CFPB indicates that in 2022, much of its supervision efforts focused on mortgage origination and pricing, small business lending, policies and procedures regarding geographic and other exclusions in underwriting, and the use of automated systems and models. .

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Lending Report Policies System 137

Speaker: Nancy Wu, Head of Sales and Customer Success at SkyStem

Join us for an enlightening webinar as we delve into the transformative realm of modern accounting practices. In today's digital age, the convergence of outsourcing and automation has revolutionized how businesses manage their financial operations. In this webinar we will explore the synergistic potential of these two strategies to streamline processes, enhance accuracy, save cost and drive strategic decision-making.

US

Payments Dive

JULY 5, 2023

Just 40% of consumers feel confident in the security and safety of their debit cards, J.D. Power said.

Security 221

Security Survey Cards 221

BankInovation

JULY 5, 2023

Michigan State University Federal Credit Union developers are investigating how to use AI in its software coding. The $7.45 billion credit union has several teams, including managers, vice presidents and developers, exploring AI use cases through its innovation lab, The Lab, Ami Iceman-Haueter, chief research and digital experience officer at MSUFCU, told Bank Automation News.

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Software Michigan Innovation How To 98

TheGuardian

JULY 5, 2023

This live blog is now closed, you can read more of our UK political coverage here Yesterday Sajid Javid, the Tory former health secretary, called for the creation of a royal commission to consider the future of the NHS. He argued that this would take the debate about the future of the service out of the realm of party politics, and, in an article in the Times , he said that in private politicians believed that the NHS was unsustainable in its current form.

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Course 91

CFPB Monitor

JULY 5, 2023

Community Financial Services Association of America (CFSA) has filed its brief with the U.S. Supreme Court in which it asks the Court to affirm the Fifth Circuit panel decision in CFSA v. CFPB. In that decision, the panel held the CFPB’s funding mechanism violates the Appropriations Clause of the U.S.

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America Community 78

Jack Henry

JULY 5, 2023

In today's age, technology modernization provides a plethora of benefits to consumers, financial institutions, businesses, and yes, even fraudsters and cybercriminals.

Strategy 78

Strategy Fraud Technology 78

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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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CFPB Monitor

JULY 5, 2023

On June 30, 2023, the U.S. Supreme Court announced long-awaited opinions in two cases challenging the Biden Administration’s authority to proceed with its plan to forgive approximately $430 billion in federal student loans. Most significantly, in Biden v. Nebraska , the Court held that the state of Missouri had standing to challenge the federal action, and that the Biden Administration’s loan cancellation plan was not authorized under the Higher Education Relief Opportunities for Students Act o

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Nebraska Missouri 78

BankUnderground

JULY 5, 2023

Ambrogio Cesa-Bianchi, Ed Hall, Marco Pinchetti and Julian Reynolds The remarkable stability of US inflation dynamics in the pre-Covid era had led many to think that the Phillips Curve had flattened. However, the sharp rise in inflation that followed the Covid-19 pandemic ignited a debate on whether the Phillips Curve had steepened and, in particular, whether its slope depends on some particular macroeconomic conditions.

Policies 87

Policies Exercises US Maine 87

CFPB Monitor

JULY 5, 2023

Nevada’s Governor recently approved amendments to Nevada laws that concern the ability of employees of Installment Loan Company licensees to work from remote locations and the collection of medical debt. The amendments become effective on October 1, 2023. Senate Bill 355 (“SB 355”) permits employees of Installment Loan Company licensees to work from remote locations. .

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Nevada Company 78

American Banker

JULY 5, 2023

The Federal Reserve's instant-payments rail may cut into card issuers' credit and debit card volume over time, but it could also help smaller institutions expand their services.

Cards 94

Cards Payments 94

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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 Monitor

JULY 5, 2023

Last week, the CFPB added a set of Frequently Asked Questions to the compliance resources on its website for its small business lending rule implementing Dodd-Frank Section 1071. The CFPB also published a slide deck for a webcast it held titled “Determining institutional coverage pursuant to the small business lending rule.” .

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Lending Resources Compliance 78

William Mills

JULY 5, 2023

In spite of what feels like a slowdown in funding, as of 2023 the fintech sector is valued at nearly $179 billion worldwide. For early-stage fintechs attempting to break into the marketplace, it's critical to ensure that companies are aware of who they are, whether their solutions can help, and if they are trustworthy. When it’s all said and done, a great solution means little if an organization has a track record of being unreliable.

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Fintech Company 80

CFPB Monitor

JULY 5, 2023

Last Friday, the U.S. Supreme Court granted the SEC’s petition for certiorari in Jarkesy v. Securities and Exchange Commission , a case in which the respondents are challenging the constitutionality of the SEC’s use of administrative law judges (ALJs). The outcome of the case could have significant implications for the use of ALJs by all federal agencies, including the CFPB, FTC, and federal banking agencies.

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Security 78

BankInovation

JULY 5, 2023

What if a bank’s compliance software could relay messaging in natural language? That’s the question anti-money laundering fintech Lucinity is hoping to answer with Luci, its new generative AI-powered co–pilot for financial institutions.

Compliance 52

Compliance Software Tools Fintech 52

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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.

Lending

CFPB Monitor

JULY 5, 2023

The Federal Financial Institutions Examination Council (FFIEC) recently announced the release of the 2022 Home Mortgage Disclosure Act (HMDA) data. The CFPB also released a summary of the data. The FFIEC advises that the Snapshot National Loan-Level Dataset that it released contains the national HMDA datasets as of May 1, 2023, and that key observations from the Snapshot include the following: • The number of reporting institutions increased by about 2.63% from 4,338 in 2021 to 4,460 in 202

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Data National Report Lending 78

BankInovation

JULY 5, 2023

Square has teamed up with American Express to launch business credit cards to its customers. The launch is in beta phase with an unknown number of Square’s merchants using the card.

Cards 52

Cards Data Fraud Management 52

CFPB Monitor

JULY 5, 2023

On June 29, 2023, Connecticut’s Governor signed into law Substitute Senate Bill No. 1033 which makes significant changes to the state’s Small Loan Act. The new law takes effect on October 1, 2023. The primary changes are as follows: New APR calculation (Section 1, subdivision (2), Revising 36a-555(2)). Under the current law, the APR is calculated under the provisions of the federal Truth-in-Lending Act and associated regulations. .

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Connecticut Lending Regulation 78

American Banker

JULY 5, 2023

The Home Loan banks are failing to serve huge numbers of Americans because of their reliance on outdated credit scoring models.

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Community Bank Community 69

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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.

Lending

CFPB Monitor

JULY 5, 2023

The internet is a powerful tool that has made many everyday activities like shopping, entertainment and seeking services more convenient, but that’s not the case for millions of users with disabilities who are being shut out by difficult-to-use, non-accessible websites. Just as physical spaces should be easy to navigate for all, the same goes for digital spaces on the World Wide Web.

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Tools 78

Image Works Direct

JULY 5, 2023

Digital marketing is a powerful tool for businesses of any size to reach and engage potential customers and members. When used strategically, digital ads can be an effective way to increase brand awareness and drive account openings.

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Branding Tools Marketing 36

The Paypers

JULY 5, 2023

Personal finance app Fintonic has developed OpenInsights, its new division specialised in designing advanced Open Banking services and data analysis for companies and financial entities.

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Analytics Data Analysis Company 36

American Banker

JULY 5, 2023

As President Biden tries to revive a key campaign promise to provide widespread debt relief to student-loan borrowers after a Supreme Court setback, legal experts warn that he's likely to encounter a fresh wave of lawsuits challenging his authority to act without congressional approval.

Policies 36

Policies Lending 36

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