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Illinois Adds Facial Recognition To Driver’s ID Applications

PYMNTS

Now that the traditional swipe credit card is starting to fall out of favor in the face of EMV and mobile payments, software developers are scrambling to develop updated ways of authenticating consumers’ identities at the point of sale. ”

Illinois 108
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Illinois regulator issues proposed Predatory Loan Prevention Act regulations; lawsuits filed to block implementation of Act’s database reporting requirement and for declaration Act does not apply to pawn transactions

CFPB Monitor

In March 2021, Illinois Governor Pritzker signed into law SB 1792 , which contains the Predatory Loan Prevention Act (the “Act”). The new law became effective immediately upon signing notwithstanding the authority it gives the Illinois Department of Financial and Professional Regulation (“IDFPR”) to adopt rules “consistent with [the] Act.”.

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Fintech Deals to Watch: Fall Festivities

Gonzobanker

NYMBUS secured Series D financing (led by Insight Partners), partnered with Hurdlr for small business banking; with Atty Bank, Saint Louis Bank ’s legal community bank; and with Roger, Citizens Bank of Edmond ’s military niche bank. Core10 secured a Series B funding round led by Patriot Financial Partners with JAM FINTOP and the ICBA.

Fintech 103
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Why State And Local Governments Struggle To Shred The Paper Check

PYMNTS

Governments at the state and local level are having trouble meeting this need, however, as they must also balance regulatory compliance standards against the desires of their in-state residents. The state of Illinois is still considering digital disbursements, though innovation remains slow.

Idaho 130
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Figure CEO: Figure Pay, National Bank Charter Will Boost Financial Inclusion

PYMNTS

“You're not dealing with two-day settlement,” he stated, adding that interoperability also has the ability to foster sticky relationships between merchants and consumers, especially consumers who want perks and high reward cards or coupons. Figure, said Cagney, can offer some of its products in New Yok — but not in, say, Illinois.

National 215
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Will EMV shift have an impact on ATM skimming rates?

NCR

Last year, the EMV liability shift for payment terminals saw merchants become responsible for card present fraud conducted on their premises, and this is giving retailers the push they need to adopt tougher security protections. Meanwhile, the shift for Visa payment cards is set for precisely a year later.

ATM 75
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Will EMV shift have an impact on ATM skimming rates?

NCR

Last year, the EMV liability shift for payment terminals saw merchants become responsible for card present fraud conducted on their premises, and this is giving retailers the push they need to adopt tougher security protections. Meanwhile, the shift for Visa payment cards is set for precisely a year later.

ATM 40