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Top News In Payments: The Fed Takes A Closer Look At Big Tech; Goldman CEO Denies Apple Card Credit Bias Claims

PYMNTS

Goldman CEO Denies Claims Of Apple Card Credit Biases. Richard Ashton, deputy general counsel for litigation, enforcement and system matters, said at a conference that the Federal Reserve is mulling an audit of the governance structures and compliance policies of tech firms. South Dakota Decision. Wayfair case.

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Wells Fargo’s Q2 Disappoints After Scandals

PYMNTS

Second-quarter net income was impacted by a $481 million one-time expense resulting from a key Supreme Court decision related to online sales, South Dakota v. The bank has been in recovery mode in recent months, as federal regulators launched a series of investigations into consumer and commercial practices at the lender. .

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Sizzle Or Fizzle: Facebook, Online Lending, Cash – And The Twilio Surge

PYMNTS

This week it was Minnesota, and then yesterday Walmart really got warmed up and announced the expansion of their new payments service in: Michigan, Virginia, the Carolinas, Indiana, Iowa, Kentucky, Nebraska, North Dakota, South Dakota, Tennessee, Louisiana, Missouri, Mississippi and Washington, D.C. Costco Card.

Lending 101
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Ballard Spahr Submits Comment Letter to OCC in Support of Proposed True Lender Rule

CFPB Monitor

93a, the OCC is generally “authorized to prescribe rules and regulations to carry out the responsibilities of the office.” Citibank (South Dakota), N.A., The OCC clearly has the authority to adopt the Proposed Rule. Under 12 U.S.C. § 12 U.S.C. § 1 (emphasis added). As the Supreme Court instructed in Smiley v.

FDIC 78