PYMNTS
JANUARY 13, 2021
This week's Commercial Card Innovation Tracker looks at how the industry is driving SMB adoption, from lowering the cost of corporate card acceptance to looping business card products into Apple Pay. FDIC) and the Treasury Department have reportedly launched an inquiry into American Express Co. Chase Business Cards Land On Apple Pay.
CFPB Monitor
NOVEMBER 24, 2020
According to the complaint, the defendants advertised the App “as a high-interest bank account that operates by placing consumers’ funds at unspecified FDIC-insured banks.” Such representations are made on the company’s website and through the Apple App Store and Google Play Store which offer the App for download by consumers.
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PYMNTS
JULY 21, 2019
The South Dakota Trust Charter allows companies to operate on a national level so you can serve clients from every state. And surprisingly, South Dakota is one of the largest holders of institutional assets in the country, more than $3 trillion, according to the FDIC — three times the size of New York, followed only by Ohio.”.
PYMNTS
OCTOBER 17, 2017
An industrial bank is an FDIC-insured depository institution that is generally subject to the same banking laws and regulations as any other bank charter type, with the important exception of the Bank Holding Act of 1956. Square already has an SMB lending arm – Square Capital – which it operates through a deal with Utah-based Celtic Bank.
PYMNTS
DECEMBER 23, 2020
The company offers FDIC-insured bank accounts and a Visa -branded payment cards for teens (aged 13-18) with budgeting features and other financial education tools built in. The teen really only cares about the ability to spend, use Apple Pay, get a cool card and obviously send and receive money. We don't take that lightly.
MyBankTracker
APRIL 27, 2021
FDIC insured. CIT Bank is able to offer accounts with significantly higher savings rates and lower fees because it doesn’t operate any branches. Without these operational expenses, online banks such as CIT Bank often provide more value to consumers. FDIC Insurance. Competitive savings rate. No monthly fee.
Jeff For Banks
MARCH 3, 2018
When I wrote that post in January 2011 there were 7,700 FDIC insured financial institutions. They can be a strategic shift of your franchise, a new product line, or a new operating environment. In the above blog post, I discussed Apple and Bank of New York Mellon. Sticking with the Apple theme, in 2007, they launched the iPhone.
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