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The CFPB section 1071 effective date

Abrigo

The CFPB generally describes it as a request for any of the following: Loans Lines of credit Credit cards Merchant cash advances Credit products used for agricultural purposes Requests for additional credit on an existing loan are not counted as originations for the purpose of determining a covered financial institution.

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Revolutionizing the Way We Pay: The Top Payment Industry Trends You Need to Know in 2023

Perficient

In fact, according to The Business Research Company’s 2022 Payment Security Global Market Report , the payment security market is expected to reach $43 billion by 2026. A biometric payment is a point-of-sale technology that authenticates payments by pairing a payment card with a physical identifier of the cardholder.

Industry 471
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Consumer Credit Update for 2Q 2023

South State Correspondent

Home equity lines of credit (HELOCs) and bank card usage are up 24% and 17%, respectively. These are cash flow management tools that send a signal of future problems. We should see a slight increase in production in 2025 and 2026 driven by lower rates. The number of cards in the wallet is almost a full card at just shy of 3.

Trends 195
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Recap of Money 20/20 USA 2023 and 10 Banking Thoughts

South State Correspondent

As can be seen, the conference largely revolved around payments, artificial intelligence, fintech partnerships/management, regulation, and fraud/identity in its various forms. Generative AI: Traditional AI was ever-present in touted solutions regarding fraud, risk management, and the customer experience. Maybe a topic for next year?

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Deep Dive: Making Field-Based Employees More Efficient

PYMNTS

The following Deep Dive highlights how workforce spend management systems, predictive maintenance and enterprise resource planning (ERP) solutions can take away field-based workers’ financial woes, enabling them to focus on their jobs instead. Field-based work is projected to experience significant growth in the coming years.

Tools 100
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Is India’s ATM Disappearing Act A Digital Payments Boon?

PYMNTS

Chalk it up to “unviability of operations” in the wake of new regulatory guidelines, mandating upgrades that focus on the actual management of the physical cash at those machines. That comes as eCommerce is slated to be worth as much as $200 billion by 2026 , according to Morgan Stanley estimates, growing at 30 percent, compounded annually.

ATM 187
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Construction Is Trying — Really — To Move Away From Paper

PYMNTS

Contractors typically have limited cash flow , and 46 percent of them must use personal savings and credit cards to cover the gaps left by late payments — which can serve to delay payrolls, too, and make it harder to retain labor when unemployment is low. Digital Improvements.

Software 105