South State Correspondent

MARCH 21, 2023

ERC gave eligible businesses a refundable tax credit of up to 50% of $10,000 for qualified wages paid per employee. Community banks can now white label this same product to onboard and process employee retention tax credits for the bank’s small business customers AND prospects. In 2020, the U.S.

Taxes 195

Taxes Community Bank Community Operations 195

PYMNTS

OCTOBER 8, 2019

Cyberattacks continue to rise, for example, with experts warning that small businesses are especially at-risk. Although hiring slowed in September, small businesses continue to remain optimistic and have even reported some significant benefits resulting from late-2017’s tax reform. 76 percent of U.S. 37 percent of SMBs said the U.S.

Survey 134

Survey Taxes Data Report 134

PYMNTS

APRIL 16, 2020

People took to social media to express their anger, some stating that they’ve had the same bank account for a dozen years and others complaining that their tax payments got deducted but they can’t get a deposit. If you filed last year’s or this year’s taxes we have your information.”. Just be patient, check back later,” says Garcia. “If

Taxes 291

Taxes social media Tools Payments 291

FICO

JANUARY 6, 2019

Government Predictions 2019: Now that we have completed the 2018 election season, people are asking what is in store for 2019. for the next six years, and took 100% of their current tax revenue and allocated it 100% to its pension fund, the state would still be underfunded for their promised payouts.

Security 40

Security Analytics Policies Data 40

PYMNTS

SEPTEMBER 28, 2020

They also need to collect and verify vendors’ details to comply with anti-crime regulations, adhere to tax reporting requirements and deliver convenient digital payments to these suppliers. Preventing crime also includes thwarting tax fraud, and companies must obtain certain details to fulfill their tax reporting responsibilities.

Data 166

Data Management Taxes Meeting 166

PYMNTS

MAY 8, 2020

Consumers sitting down to bet through their computers or phones likely do not want to receive winnings via checks and expect effortless digital payments — even with online gambling platforms’ security measures ensuring winners are properly verified. million in March 2019. million from online gaming since the summer of 2019.

Online 176

Online Industry New Jersey Pennsylvania 176

PYMNTS

OCTOBER 16, 2020

COVID-era fraudsters use scams that range from impersonating tax officials to selling fake PPE on P2P payment apps. A financial fraud attack against FIs or businesses occurred every two minutes on average in 2019, resulting in 59,627 attacks in total. trillion a year. billion) in attacks.

Fraud 222

Fraud Payments Security Data 222

PYMNTS

JUNE 29, 2020

We cannot lift the restrictions without reassuring ourselves that the firm has been able to satisfy all our concerns, for example that all clients’ money is safe,” the Financial Conduct Authority (FCA) said in a statement. “We The United Kingdom’s regulatory authority said Wirecard AG was correcting issues raised by the $2.1

Taxes 223

Taxes Report Financial Technology Digital Banking 223

PYMNTS

SEPTEMBER 12, 2019

The People’s Bank of China announced in March that it plans to create rules for regulating and securing the FinTech sector, for example. . This month’s Deep Dive examines the struggles and strategies involved in securing the FinTech and digital banking space and how AI may be able to help. .

Fraud 189

Fraud Fintech Compliance Regulation 189

Abrigo

FEBRUARY 24, 2020

The number of institutions banking cannabis grew significantly in 2019. It would be impossible to talk about cannabis banking in 2020 without mentioning the Secure and Fair Enforcement Banking Act of 2019 (SAFE Act). Key Takeaways. Despite Federal ambiguity, Illinois State Regulators defined their stances on cannabis banking.

Illinois 195

Illinois Regulation United States California 195

PYMNTS

FEBRUARY 21, 2020

Fraudsters can appear legitimate by impersonating real businesses, for example, searching online for publicly available details like corporate executives’ addresses and phone numbers, and then supplying this information — with some digits or letters changed — on order applications. False Positives and Data Security.

Customer Experience 152

Customer Experience Fraud Millennials Online 152

PYMNTS

SEPTEMBER 24, 2020

The ongoing COVID-19 pandemic and its associated social distancing and stay-at-home orders have pushed untold services online for easier consumer access, with banking serving as a prime example. Social Security numbers. billion in losses in 2019, according to a recent study, although it has declined from $20 billion in 2013.

Video 205

Video Fraud Digital Banking System 205

PYMNTS

JANUARY 24, 2020

Government disbursements can range from child support payments and annual tax returns to pension and retirement fund payouts. The IRS has accepted digitally filed tax documents and issued digital refunds for years, and it received approximately 29 million electronic returns via direct deposit between February 2018 and February 2019.

Payments 130

Payments US Fraud Innovation 130

Alex Jimenez

FEBRUARY 27, 2019

IBM Think 2019 Campus. As noted in a previous post, I attended IBM’s Think 2019 conference in San Francisco earlier this month. The drivers of their move consisted of predictability, security, and speed. A public cloud wasn’t a good solution due to security concerns. As expected, the announcement generated quite a buzz.

blockchain 40

blockchain Conference Security Innovation 40

TrustBank

APRIL 26, 2021

This law passed in 2019 and flew under most people’s radar throughout 2020 because, well, we had a few other things going on in 2020… a pandemic with massive business closures and unemployment, social unrest, a presidential campaign, more social unrest, etc. percent payroll tax on all employee wages, beginning January 1, 2022.

Washington 64

Washington Taxes Idaho Oregon 64

PYMNTS

MARCH 5, 2019

In the February 2019 Payments and The Platform Economy Playbook , a collaboration between PYMNTS and YapStone, the sharing economy was in focus. Expectations can differ from region to region regarding timing of payments, taxes, currencies, regulatory differences – and we look at all of those variables.”.

Regional 148

Regional Mobile Security Fraud 148

PYMNTS

JANUARY 10, 2019

From tax refunds and government assistance to payments made for home service and housekeeping professionals, faster payout solutions appear to be gaining popularity — all around the world. Visa recently partnered with Shieldpay to introduce secure card payments on peer-to-peer (P2P) platforms to the nation’s £120 billion ($151.1

Marketing 156

Marketing blockchain Online Cards 156

PYMNTS

MARCH 9, 2020

Offering an example of the evolving sophistication, the FBI pointed to new spins on the BEC, with one of the most recent involving scammers not mimicking suppliers or corporate executives, but a company’s own CEO to steal funds from the payroll department. billion in 2019.

San Diego 141

San Diego Fraud New York Report 141

PYMNTS

MARCH 12, 2020

They were also told that public tax money couldn’t be used for ransom and that the government would pay them back. Earlier in 2019, for example, fraudsters made off with $29 million from the U.S. The victims were told that the operation was secret and time-sensitive.

New York 141

New York Video Fraud Taxes 141

Independent Banker

OCTOBER 1, 2022

Fraudsters tend to target baby boomers via robocalls about healthcare, taxes or Social Security, but they aren’t immune to social scams. Brandon Koeser, financial services senior analyst with RSM US LLP headquartered in Chicago, gives an example of how scammers can target people based on their ages.

Fraud 133

Fraud social media Millennials Examples 133

Abrigo

MARCH 30, 2020

trillion ‘‘Coronavirus Aid, Relief, and Economic Security Act’’ or the ‘‘CARES Act,’’ financial institutions have a tremendous opportunity to help small businesses in their communities access much-needed capital through the billions of dollars that will be available to help keep companies operating. With the passage of the $2.2

Lending 195

Lending Capital Community Examples 195

PYMNTS

OCTOBER 9, 2019

Filed by Republican and Democratic representatives, the Hotel Advertising Transparency Act of 2019 (HR4489) “would ensure that consumers are shown the full pre-tax price of a hotel room while searching and comparing lodging options for their next trip,” according to a statement from its sponsors. More Pricing Moves.

Las Vegas 101

Las Vegas US Taxes Mobile 101

Abrigo

MAY 10, 2021

While a financial institution often primarily focuses on securing software to originate business loans, a commercial LOS provides scalability when it offers integrated solutions on one platform to manage all stages of the life of the loan. The LOS can also automatically generate annual loan reviews. Best-in-Class LOS Vendors.

System 195

System Lending Analysis Software 195

CB Insights

NOVEMBER 21, 2019

While deals and dollars slowed to Canadian startups in the first half of 2019, early-stage startup activity suggests that there’s more to the story. GET THE ENTIRE 41-PAGE CANADA VC REPORT H1 2019. Canadian VC-backed companies saw funding drop 13% in H1 2019 compared to H1 2018. The 2019 Canadian fintech market map.

Fintech 93

Fintech Marketing US Technology 93

TrustBank

DECEMBER 16, 2021

In 2019, Medicare covered about 61.5 This amount is calculated using your income tax information from two years ago. So, for 2022, your tax information from 2020 will be assessed. Surcharge amounts vary based on your income bracket and how you filed your taxes. As always, this is not intended to be tax advice.

Taxes 52

Taxes Washington Security Maine 52

Abrigo

DECEMBER 20, 2021

Millions of dollars in suspicious activity were not reported to FinCEN in a timely or accurate manner, including those connected to tax evasion, illegal gambling, money laundering, and other financial crimes. . An example cited in the consent order found that a customer with a previous SAR alerted on new activity. Be Prepared.

Resources 195

Resources Texas Analysis System 195

PYMNTS

MAY 12, 2020

based gig workers reported in a 2019 study that they had not received funds for work they had completed. Companies can integrate several features into their accounts payable (AP) processes that help deliver fast and secure invoicing and payments, and third-party accounting tools or even mobile apps can make these processes more transparent.

Tools 131

Tools Study Payments Security 131

PYMNTS

AUGUST 5, 2019

Consumers worldwide appear increasingly receptive to subscription offerings, with a recent survey of those in 12 countries finding the share of adult respondents who have subscription services rose from 53 percent in 2014 to 71 percent in 2019. Many major subscription service players have already taken this payments-localization approach.

Payments 115

Payments Compliance Operations System 115

PYMNTS

DECEMBER 13, 2019

The latest data from PitchBook and London & Partners, for example, found 2019 to be a record year for U.S. for example, the New York Stock Exchange (NYSE) recently filed paperwork with the Securities and Exchange Commission (SEC) to develop an alternative to the initial public offering (IPO), with Nasdaq expected to do the same.

Capital 132

Capital Lending Strategy Community 132

PYMNTS

FEBRUARY 14, 2019

Denny Heck, both Democratic members of Congress from states with legal marijuana — back the Secure and Fair Enforcement of Banking Act of 2019 , or the SAFE Banking Act, as it is more commonly known. Such prohibition could involve limiting FDIC protections for those deposits, for example, or trying to prevent loans to those businesses.

Oregon 230

Oregon Colorado Operations Washington 230

TrustBank

DECEMBER 8, 2022

The BEA calculates the personal saving rate by subtracting taxes from personal income to arrive at “disposable personal income” and then subtracts personal outlays. From 1990-2019, US personal saving began to trend lower, averaging only 6.4% What’s left is an estimate of personal savings. over that 30-year period.

US 52

US Policies Taxes Washington 52

PYMNTS

JANUARY 10, 2019

And taking effect with the dawn of 2019, the Chinese government has put in place new initiatives tied to cross-border trade flows done by digital means into several markets. Platform operators and merchants must conduct due diligence related to everything from intellectual property and tariffs to tax laws and FX rates.

United States 158

United States Regulation Compliance Strategy 158

PYMNTS

JANUARY 1, 2021

Cross-border online sales in the United States as a share of total eCommerce surged by 40 percent in May compared to the same month in 2019, and the rate of growth was six times higher than in the previous month. There was another inconspicuous but remarkable dimension to these trends, however. Credit Union. Digital Identity.

Trends 259

Trends Video Retail Payments 259

BankUnderground

JANUARY 18, 2021

In autumn 1915, Britain sharply increased taxes, broadening the base for the lower middle classes and raising rates for the wealthier to draw in more capital. Ultimately, this effort failed and in February 1917, the securities were ordered to be confiscated. These investors did well.

Capital 145

Capital Retail Taxes Industry 145

Abrigo

JUNE 4, 2019

There are three different CECL effective dates, depending on an institution’s characteristics: PBE that is an SEC filer: December 15, 2019. The sum of these differences (net of applicable income taxes) is the “cumulative-effect adjustment” as of the effective date of the new credit losses standard. the incurred loss method).

Policies 186

Policies Capital Report FDIC 186

PYMNTS

FEBRUARY 13, 2019

Denny Heck, both Democratic members of Congress from states with legal marijuana — back what is called the Secure and Fair Enforcement of Banking Act of 2019 , or SAFE Banking Act as it is more commonly known. Two of the speakers at the hearing — Colorado Ed Perlmutter and Washington state Rep. Cash Dangers.

Oregon 115

Oregon Colorado Operations Washington 115

Fintech Labs Insights

FEBRUARY 22, 2022

For example, we haven’t included Square Block because crypto is currently less than 50% of its revenue ( 47% in Q3 2021). Dec 2019 round. 2019 round (per Fortune). Apr 2019 round. We are not including all crypto companies, only those that have financial services activity as a core part of their offering ( eg., 1 Feb 2022.

Fintech 15

Fintech Bitcoin blockchain Lending 15