Wed.Nov 23, 2022

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Fiserv adopts new executive severance policy

Payments Dive

The payments company’s board adopted the executive severance policy this week even though it opposed a similar shareholder proposal in May.

Policies 195
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Major funds exposed to companies allegedly engaged in Uyghur repression in China

TheGuardian

Report finds stock indexes provided by MSCI include companies using forced labour or constructing surveillance state in Xinjiang Many of the world’s largest asset managers and state pension funds are passively investing in companies that have allegedly engaged in the repression of Uyghur Muslims in China, according to a new report. The report, by UK-based group Hong Kong Watch and the Helena Kennedy Centre for International Justice at Sheffield Hallam University, found that three major stock ind

Company 106
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Transactions: American Express, Square partner on credit card

BankInovation

American Express and digital payment platform Square are teaming up to launch a credit card for Square merchants on the AmEx network. The expanded partnership will better support small businesses by organizing expenses and managing cash flow, according to a release. “Our brands will offer a credit-card product specifically designed for Square sellers, backed by […].

Cards 98
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CFPB expands consumer complaint access to local governments

CFPB Monitor

In a recent blog post , the CFPB announced that it has started sharing consumer complaint data with local governments through its Government Portal. The Government Portal gives local, state, and federal government agencies access to more granular information about consumers’ complaints and companies’ responses than the public is able to view through the CFPB’s public-facing Consumer Complaint Database.

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Why is CRE Lending Stuck in the Past? Top 3 Reasons for Digital Resistance

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.

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Simmons Bank leverages ID verification solution

BankInovation

One of the first banks to leverage a new secure ID validation process for digital account opening from core provider Jack Henry and AI-powered identity verification platform IDScan.net is $27 billion Simmons Bank. The partnership on Jack Henry’s OpenAnywhereTM platform aims to deliver a frictionless mobile onboarding experience for Jack Henry clients, with ID scanning […].

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From Our Dinner Table to Yours, Happy Thanksgiving!

Image Works Direct

From turkey to turnkey, the holidays are what you make them. However you spend your Thanksgiving, we hope you know how appreciated you are. At image.works, we are grateful for our loyal clients. Here, you always have a place at our table! If you’re looking for turnkey marketing solutions for the new year, we’re here… but not on the following days.

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This week’s podcast episode: Mortgage redlining: a look at ongoing challenges for banks and non-banks, with special guest Abby Hogan, regulatory attorney and former analyst in the Office of Fair Lending and Equal Opportunity, Consumer Financial Protection Bureau

CFPB Monitor

We first review the origins of mortgage redlining and discuss the concept of reverse redlining and new theories of redlining. We then look at a wide range of topics including: the application of redlining enforcement to non-banks; the use of the Equal Credit Opportunity Act and Fair Housing Act to challenge redlining; activity at state level targeting redlining; the types of evidence regulators will look for when examining for redlining or bringing an enforcement action; potential penalties for

Groups 78
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Credit Union Executives Society CEO John Pembroke dies

American Banker

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CFPB highlights accuracy problems in two reports on tenant background screening reports

CFPB Monitor

The CFPB recently released two reports concerning tenant background checks. One report, “ Consumer Snapshot: Tenant Background Checks ,” discusses consumer complaints received by the CFPB that relate to tenant screening by landlords. The other report, “ Tenant Background Checks Market ,” looks at the practices of the tenant screening industry. Consumer Snapshot.

Report 78
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Register Now: Sneak Peek Into Close Automation SkyStem Web Demo

Technology is rapidly changing the way accountants perform and manage month-end activities. Spreadsheets, email, and shared drives no longer have to slow us down. Join us as we present a "sneak peek" recorded demo of SkyStem's month-end close solution – ART. In under four weeks, your team can start reaping the benefits of month-end close automation by vastly reducing spreadsheets, cut down on reconciliation work, speed up the month-end close, and better manage your remote team.

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Sikorsky Financial Credit Union to merge with small Connecticut peer

American Banker

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Department of Education and Federal Student Aid Seeking Whistleblowers to Report Potential Violations by Institutions of Higher Education

CFPB Monitor

Having stood up and promoted the whistleblower program at the CFPB , it appears that Richard Cordray may now be taking similar steps at Federal Student Aid (“FSA”). On November 10, the Department of Education (“ED”) and FSA issued a bulletin inviting whistleblowers to provide information about potential violations of the Higher Education Act (“HEA”) and its implementing regulations.

Report 78
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Latest global banking news

American Banker

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Banks, fintechs both want more transparency for Fed master accounts

American Banker

Fintech 80
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Top 10 Benefits of Automating Loan Modifications for Commercial Lenders

Get ready for the wave of $1.2 trillion in commercial debt maturing in the next 24 months with GoDocs' ModDocs® platform. Traditional loan modifications are slow, expensive, and prone to errors, which put lenders at risk. But with ModDocs®, you can enjoy an innovative solution that eliminates attorney fees, allows on-the-fly loan modifications, and ensures compliance.

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ESG in its DNA: Berkshire Hills CEO on investing in the underbanked

American Banker

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Banks, payment companies invite more techies to their labs

American Banker

Company 50
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Most Fed officials saw slower pace of hikes 'soon' as appropriate

American Banker

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LGBTQ neobank wants to help its members navigate family planning

American Banker

Fintech 48
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Finding “The One:” The Ultimate Guide to Selecting Financial Software

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

As finance and accounting practitioners, you are expected to complete daily operations as well as to manage next generation tools and resources to support a business that is growing in complexity. Having the right software can be critical in juggling and meeting those high expectations. The path to the right software, however, is paved with challenging decisions.

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Latest banking news

American Banker

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Goldman Sachs to pay $4 million SEC penalty in ESG fund case

American Banker

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Placing blame for inflation and a likely recession

American Banker

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Data shortcomings at Citigroup flagged in Fed, FDIC resolution plan review

American Banker

FDIC 48
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2024 Lending Outlook: Innovations and Evolutions in the Financial Sector

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.

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Warren, Whitehouse ask DOJ to hold Bankman-Fried accountable for FTX collapse

American Banker

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CFPB, FTC defend service members' right to sue under Military Lending Act

American Banker

Lending 37
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Holiday fraud is ramping up. So are banks' efforts to thwart it.

American Banker

Fraud 37