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Mastercard’s Threat Scan Helps Banks Detect Vulnerabilities

PYMNTS

As weaknesses in authorization systems can be exploited by online thieves, financial services firms are more vulnerable to hackers and get hit 300 times more often than other businesses, according to the Boston Consulting Group. Threat Scan is part of our multi-layered security strategy to secure the payments ecosystem,” said Johan.

Boston 177
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State Street Agrees To Pay $35M To Settle SEC Charges

PYMNTS

The Securities and Exchange Commission (SEC) announced that financial services company State Street has agreed to pay more than $35 million to settle charges that it fraudulently charged secret markups. Treasury securities. Levenson, director of the SEC’s Boston regional office, the department which investigated the overcharges.

Boston 101
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SEC Charges Founder Of Mozido With Defrauding Investors

PYMNTS

The Securities and Exchange Commission (SEC) announced news on Monday (April 2) that it charged Michael Liberty, the founder of Mozido , the FinTech startup, with scamming investors out of their money. The prospect of investing in a non-public startup company may hold considerable allure, but buyers need to understand what they are buying.

Boston 126
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EU Bankers Weigh Risks, Rewards of CBDC – and Cash’s Staying Power

PYMNTS

The ECB commentary, we contend, solidifies at least some regional approaches to CBDCs, but retail use cases may be gaining favor. He said that a wholesale CBDC, “restricted to a limited group of financial counterparties, would be largely business as usual.”.

Boston 227
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What Serving The Internet’s ‘Underserved’ Means For Payments

PYMNTS

Think of access to reliable internet service, perhaps, as roughly similar to access to reliable and secure financial services — without both, the larger worlds of payment and commerce can indeed suffer. “In communities. Expensive Cities. And the DSL network might be overloaded, or not in very good shape.”. We are tech agnostic,” Winrich said.

Payments 131
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Efficiency now: 8 smart strategy tips

Independent Banker

During the pandemic, the Fed bought up massive numbers of mortgage-backed securities, with banks enjoying unprecedented sales levels and gain on sales margins. The days of people coming in to cash their Social Security checks—those are pretty much gone. Recruiting is easier in some regions than others. Strengthen controls.

Strategy 135
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The community banks standing by hospitality customers

Independent Banker

The Coronavirus Aid, Relief, and Economic Security (CARES) Act provided an important backstop for Small Business Administration (SBA) 7(a) loan holders, as it required the SBA to take care of loan payments for about six months in 2020 and make partial payments in 2021. New loan demand returns.