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Facebook Faces Billions In Possible GDPR Fines

PYMNTS

The impact of Europe’s General Data Protection Regulation ( GDPR ) continues to take shape roughly five months after taking effect, and Facebook could be on the hook for billions of dollars in fines tied to a data breach of about 50 million user accounts. Crypto Regulations.

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Consumer Lending: Should Banks Do It?

Jeff For Banks

When I first read Standards Needed for Safe, Small Installment Loans from Banks, Credit Unions by the Pew Charitable Trusts that encouraged financial institutions to get back into small ticket consumer lending, I thought “what are they nuts!” Ever since we formed our company in 2001, this has been the case. Real estate secured.

Lending 60
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Predicting the Next Banking Crisis Is a Fool’s Game. Not Learning From the Last One: Equally Foolish

Jeff For Banks

The old borrow short, lend long strategy. Second, this can be accomplished only if the industry does not have too much influence over its regulators and if the regulators have the ability to hire, train, and retain qualified staff. Third, the regulators need adequate financial resources. percent of all jobs in 2001 to 11.3

FDIC 78
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A Decline in Personal Savings

TrustBank

By the 1990’s, improvements in technology and further changes to securities regulations made it easier for corporate customers to access financial markets directly. Adding to the observation is the fact that from roughly 2001-2006, a devastating housing price bubble formed due to lax lending standards.

US 52
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Why Regulation Won’t Fix Credit Reporting Agencies

PYMNTS

The credit bureaus were included in the CFPB’s scope of oversight in 2012, and she’s asked the agency to let her know what additional power it might need to better regulate the credit reporting agencies going forward. Senator Elizabeth Warren (D – Mass.) I’m sure they are quite busy making their list and checking it twice.

Report 202
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Everything You Need To Know About What Amazon Is Doing In Financial Services

CB Insights

Through trial and error, the company has set up key financial pillars across payments, cash deposits, and lending. Amazon Lending. Jeff Bezos has been more forward about Amazon’s desire to build out its lending arm than other financial service offerings. Today, Amazon has expanded its business lending to the US and UK.

Cards 101
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Top 5 Total Return to Shareholders: #3 ESB Financial Corporation

Jeff For Banks

It converted to a public company through a Mutual Holding Company conversion in 1990 and performed the second step conversion in 2001. ESB does traditional mortgage lending, with some commercial real estate too, funded by retail deposits with a heavy dose of CDs. Since its humble beginnings, it has grown to 24 offices and $2.0