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Money transfer complaints highlighted in CFPB December 2015 complaint report

CFPB Monitor

Complaints about prepaid cards showed the greatest percentage increase based on a three-month average, increasing about 215 percent from the same time last year (September to November 2014 compared with September to November 2015). The volume of complaints from Idaho, Alabama and Vermont increased by, respectively, 49, 38 and 36 percent.

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The 2022 GonzoBanker Awards

Gonzobanker

As if that wasn’t enough, regulators took a sledgehammer to debit fee income with Reg II changes that will begin reducing card-not-present interchange fees starting in July 2023. In December, the founder and CEO of Crypto Exchange company FTX was arrested in the Bahamas (yah, don’t ask) and charged with fraud and conspiracy.

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Banking Is Only The Beginning: 30 Big Industries Blockchain Could Transform

CB Insights

Ultimately, the use cases for a transparent, verifiable register of transaction data are practically endless — especially since blockchain operates through a decentralized platform requiring no central supervision, while still remaining resistant to fraud. Gift cards and loyalty programs. Cybersecurity. Real estate.