article thumbnail

RTP Picks Up Pace With Corporates, While CBDCs Raise Banker Doubts

PYMNTS

Our customers need financial technology tools that align with their personal and business needs,” Wells River Savings Bank Chief Financial Officer and Chief Operations Officers Judy Lavely said in the announcement.

Vermont 157
article thumbnail

FDIC issues final rule on brokered deposits and interest rate limits applicable to less than well capitalized institutions

CFPB Monitor

The final rule, which includes material differences from the FDIC’s proposal, becomes effective April 1, 2021, with full compliance extended until January 1, 2022. The national rate is currently calculated as a simple average of rates paid by all depository institutions and branches that offer and publish rates for specific products.

FDIC 78
Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

Young Consumers Love to “Buy Now, Pay Later” – Here’s What to Know About the Explosive Fintech Trend

Perficient

Lauren Saunders, Associate Director of the National Consumer Law Center, said in the hearing that even for products “clothed in shiny fintech garb,” more consumer protection measures need to be in place for BNPL products and asserted that many of their “abusive profit models may be built on late fees from struggling consumers.”.

Fintech 474
article thumbnail

NEW DATA: Behind Germany’s Obsession With Cash

PYMNTS

That’s the sixth-highest cash share of countries in Western Europe, higher than that of neighboring nations like Belgium (15.4 What’s more, PYMNTS research expects the total use of cash to continue to drop through 2022 at a rate of 1.4 percent), France (7 percent) and the Netherlands (7.1 So, why the preference for physical currency?

Data 115
article thumbnail

10 Top Banking Podcasts You Should be Listening to

Abrigo

Banking Transformed Banking Transformed by the Financial Brand’s Jim Marous has new episodes several times a month and features executives from financial institutions, financial technology firms, authors, consultants, and other experts in the banking industry. keep me informed. Asset/Liability. Fraud Prevention.

Community 195
article thumbnail

Closing the gate: House adopts ENABLERS Act amendment to 2023 NDAA

CFPB Monitor

On July 13, 2022, the House of Representatives (the “House”) adopted an amendment to the 2023 National Defense Authorization Act (“NDAA”) offered by Maxine Waters (D. There is a national election coming up, so the amendment’s passage is hardly a pre-ordained conclusion.

article thumbnail

SWIFT Warns India Of ‘Unprecedented’ Rise In Corporate Loan Defaults

PYMNTS

In a statement at the time, the FI’s CEO, Rana Kapoor, said the B2B payment landscape was in the midst of a “tectonic shift with the influx of new financial technologies revolutionizing the way banking services are offered to corporate and retail customers.” ” Banks Need to Multitask.

Lending 100