CFPB Monitor

JULY 29, 2022

and related entities (collectively, “Harris Jewelry”), a national jewelry retailer that markets and sells military-themed gifts, to resolve their lawsuit which alleged that Harris Jewelry had engaged in unlawful sales and credit practices targeting servicemembers.

National 78

National Retail Regulation New York 78

PYMNTS

JANUARY 28, 2019

Will the ban on the credit card surcharge automatically lead to significantly higher prices when consumers opt for the plastic (via card or digital wallets) at the pump, at the counter … or pretty much anywhere? In New York this month, credit card surcharges got the okay. Maybe, maybe not. As Webster recounted Monday (Jan.

Cards 125

Cards New York Oklahoma Connecticut 125

PYMNTS

JULY 17, 2018

The credit union (CU) market has long argued that rules intended for larger, more traditional banks have unjustly been applied to their industry, stifling their growth and pace of innovation. However, recent changes in regulations could open new doors for the credit union market to more efficiently serve its members.

Hawaii 100

Hawaii Marketing Report Texas 100

Abrigo

MAY 8, 2024

Takeaway 3 Regulators are closely watching expanded uses of AI and generative artificial intelligence. It’s showing up in music and entertainment , education , healthcare , and marketing. That compares to 39% of global or national banks with more than $10 billion in assets. GenAI is seeing varied use cases in banking.

Examples 221

Examples Fraud Resources Risk Management 221

PYMNTS

DECEMBER 4, 2020

Mastercard Intros Mobilized Virtual Cards; Defines Intersection Between Functionality And Security. The virtual card offers a strong value proposition for corporates in the form of enhanced security and control over spend. But without support for mobile wallets, v-card adoption can lag. Top Trackers And Reports.

Cards 151

Cards Data Mobile Survey 151

PYMNTS

JUNE 21, 2019

Seventy-one percent of respondents said credit cards were imperative when deciding the FIs with which they want to do business, for example. percent of all CU members — currently offer some sort of credit card. billion in credit card debt as of March 2019, according to the U.S. percent of credit card debt held by banks.

Cards 102

Cards Omaha Minneapolis National 102

CFPB Monitor

OCTOBER 2, 2020

Chase Card Funding, LLC in holding that the National Bank Act (NBA) preempts claims that the interest charged on credit card receivables assigned to affiliated securitization trusts violated New York usury law. The Madden fix final rule amended the OCC’s regulation at 12 C.F.R.

Cards 78

Cards New York National Exercises 78

South State Correspondent

MAY 13, 2024

The major themes of fraud, artificial intelligence (AI), expansion of instant payments, open banking, and regulation were particularly relevant to your roles as executives, risk managers, compliance officers, and technology leaders. More states require greater disclosure and control over what banks and card processors can charge.

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Conference Payments Fraud Data 195

FICO

JUNE 21, 2022

Credit Card Limit Optimization: Akbank Wins with FICO Analytics. Akbank, one of the largest retail banks in Turkey, has improved the way it makes offers to consumers for new credit cards and credit limit increases by leveraging mathematical optimization and action/effect modelling from global analytics leader FICO. by Nikhil Behl.

Analytics 52

Analytics Cards Strategy Regulation 52

PYMNTS

FEBRUARY 15, 2019

The costs of using some cards is going on the incline, as news is breaking that the nation’s two largest card networks, Visa and Mastercard, are preparing to up the fees charged to merchants to accept network-branded cards. It’s a fact that merchants, of course, do not love.

Cards 224

Cards Course Security Fraud 224

PYMNTS

MARCH 21, 2018

In western markets, eCommerce continues to grow steadily — but, more importantly, it’s taking significant hold in less developed markets, opening up opportunities for brands to secure footholds in new regions. Global merchants who wait until these markets are established will arrive too late. PPRO’s Top 10 Growth Markets.

Marketing 134

Marketing Regional Branding Atlanta 134

Abrigo

JANUARY 22, 2024

What’s more, FinCEN included fraud in its eight anti-money laundering/countering the financing of terrorism (AML/CFT) national priorities in 2021, explicitly linking fraud detection and prevention to AML/CFT responsibilities for the first time. Perform AML investigations that satisfy law enforcement with tips from this checklist.

Fraud 221

Fraud Training Risk Management Software 221

PYMNTS

AUGUST 9, 2018

10), but will now have the additional time to continue to shape rules pertaining to the internet as the market in India takes off. Sharma previously served as the first director general of Unique Identification Authority of India, a government body in charge of India’s national identity card system, which is based on biometrics.

Regulation 100

Regulation social media Apple Mobile 100

PYMNTS

MAY 16, 2020

Credit card giant Visa has filed an application for a U.S. According to various embodiments, cash may be removed from the markets in a frictionless manner and the payment ecosystem may be improved.”. A central entity may be a central bank which regulates a monetary supply,” the company wrote. “A

System 320

System blockchain Regional Security 320

Abrigo

JULY 22, 2022

Cryptocurrency regulation is on the horizon The ups and downs of the cryptocurrency scene have illuminated a need for guidance for traditional financial institutions. A new and unpredictable market. You might also like this whitepaper, "Understanding Cryptocurrency." DOWNLOAD WHITEPAPER. Crypto turbulence.

cryptocurrency 195

cryptocurrency FDIC Regulation Fraud 195

Abrigo

SEPTEMBER 8, 2023

See the regulation and discuss with your institution’s attorney to evaluate your bank or credit union’s specific requirements. Reg CC is the federal requirement for banks and credit unions to make funds deposited to a transaction account available for withdrawal within specific timeframes.

Fraud 195

Fraud Training Regulation Compliance 195

Chris Skinner

MAY 1, 2017

Back in December, I picked up on this new Office of the Comptroller of the Currency (OCC) Ruling to issue national FinTech bank charters. This would enable a FinTech to go through ONE regulator to get to market, rather than the 200 or more they would have go through today.

America 211

America Fintech National Regulation 211

PYMNTS

DECEMBER 8, 2017

They say gift cards are the gift that always fits. Thieves simply walk into Walmart, Target, Home Depot, Lowe’s or another big-name retailer, steal an item, return it at a different store without a receipt and receive a gift card in return, which they can then turn around and sell to a pawn shop or secondary store for a lower price.

Fraud 105

Fraud Cards Tennessee Retail 105

Abrigo

FEBRUARY 9, 2024

real estate market alone. residential real estate market to launder and hide the proceeds of serious crimes with anonymity, while law-abiding Americans bear the cost of inflated housing prices,” said FinCEN Director Andrea Gacki of the N PRM. WATCH NOW Takeaway 1 Real estate money laundering is a serious issue , with a n estimated $2.3

Training 195

Training Fraud Trends Report 195

PYMNTS

NOVEMBER 12, 2019

Meanwhile, Amazon is opening its first branded grocery store , and there are questions about discrimination and the Apple Card. Goldman Denies Discriminatory Apple Card Practices, Says It Will Reassess Limits. China is making privacy allowances for digital currency , which faces a new foe in the U.S. Former U.S.

Apple 101

Apple Cards Tools Branding 101

PYMNTS

MAY 2, 2019

Royal Bank of Scotland is going after the payments market, launching a new unit Thursday (May 2) that will put it in competition with Worldpay , the former unit it was forced to unload. RBS’ new unit will likely be well-received by regulators who are concerned about competition issues in the payments market.

Payments 173

Payments Regulation Analytics National 173

PYMNTS

NOVEMBER 20, 2020

In China, the battle of the regulators versus FinTech behemoth has seemingly been joined. . That delay came following controlling shareholder Jack Ma’s meeting with Chinese regulators. Ant has had a noteworthy business model so far, noted Wu — and the company’s implied valuation coming to market reflected that.

Groups 236

Groups Regulation Policies Meeting 236

PYMNTS

AUGUST 9, 2018

Interchange fees are a controversial topic in many markets around the world, but the debt is often focused on swipe fees charged for consumer payments. A new initiative gaining momentum in Australia would ban interchange fees altogether – and according to reports, the effort includes commercial card swipe fees.

Cards 100

Cards Regulation Payments Marketing 100

PYMNTS

JULY 22, 2016

It’s even more surprising given that 2016 could be the year that regulation begins to really kick in for these lenders — in the U.S., with the latest figures stating that the industry has lent $943 million in the nation to SMEs in just the first quarter of this year. Alternative Lending. MarketInvoice. million funding round.

Lending 100

Lending Regulation Big Data Risk Management 100

CFPB Monitor

MAY 12, 2021

The Fed’s final rule implementing the Durbin Amendment (Regulation II) went into effect in October 2011. It also limited the restrictions that issuers and payment card networks can place on the processing of an electronic debit card transaction. . Proposed Amendment to Regulation II. New Lawsuit.

North Dakota 78

North Dakota Cards Regulation Fraud 78

PYMNTS

JULY 17, 2018

In one case at the state level (and it’s New York, so movement there carries much weight within the financial arena), Bloomberg reported that NY’s financial regulator is challenging what the newswire terms a “fundamental principle” on bank and FinTech relationships that brings interest rate caps into that regulator’s crosshairs.

Fintech 100

Fintech Regulation New York Management 100

PYMNTS

AUGUST 5, 2020

He added that the bad guys aren’t just looking for the card numbers that cybercriminals of yesteryear sought. The fraudsters will keep coming, and merchants who can’t provide protection will find themselves on the wrong side of their legitimate customers (and facing fines from regulators). The New Data Black Market.

Security 267

Security Fraud Data Online 267

PYMNTS

MAY 26, 2017

The National Retail Federation applauded House Republican leaders plan to abandon an effort to overturn debit card swipe fee reform , which the trade group says saved retailers and consumers more than $40 billion.

Cards 100

Cards Leadership Retail Community 100

FICO

NOVEMBER 19, 2020

Our latest UK Credit Market Report shows the continuing impact of COVID-19 on household finances even while furlough and payment holidays remained in place during the month. Cash usage on cards has also increased month on month. Spend on UK Cards Increases Marginally. Average spend is now only 2.9 percent lower than a year ago.

Report 52

Report Marketing Cards Payments 52

PYMNTS

JULY 23, 2020

Regulators in Mexico passed a law governing FinTechs in March 2018, just two months after PSD2 went into effect in the European Union, and others in the region have since followed suit. This steady march toward online banking tools has played a key role in how Brazil’s regulators are structuring its open banking rules.

America 165

America Regulation Regional Tools 165

PYMNTS

AUGUST 15, 2018

Visa and Mastercard have been replaced on Russia ‘s Crimean peninsula, as its largest bank has completed the process of switching all credit cards to Russia’s MIR payment system. On August 14, the process of replacing Visa and Mastercard plastic cards in favor of the Mir payment system has ended.

System 101

System blockchain Cards ATM 101

PYMNTS

JULY 24, 2020

The July Payments Powering the Platform Economy Report examines how international eCommerce platforms work to create transaction experiences that are compelling and secure for users in each market they serve. The collaboration is expected to give Visa’s global merchant and card network access to M-Pesa’s financial services network.

Compliance 152

Compliance Report Payments Security 152

PYMNTS

MARCH 16, 2017

We were surprised to see businesses actively selling into markets because they had a vehicle to receive payments there, and they were actively avoiding other markets because they didn’t know how to get paid there,” Moen said of Flywire’ s conversations with companies revealing their B2B payment pain points. Time For Change.

Marketing 109

Marketing Payments Compliance Innovation 109

NCR

OCTOBER 4, 2017

With the Japanese central bank and financial regulator confirming their support for the new payment system, the bank consortium hopes to have it ready in time for the Tokyo Olympics in 2020. ” Japan is not the only market where work is underway on a digital currency. Image credit: iStock/Getty Images/irfannurd.

National 45

National Groups blockchain Cards 45

PYMNTS

NOVEMBER 23, 2020

The regulation would guarantee that everyone would have equal access to banking services provided by federal savings associations, national banks, and federal branches and agencies of foreign bank organizations. The Office of the Comptroller of the Currency (OCC) has put forward a personal banking rule meant to level the playing field.

Analysis 162

Analysis Digital Banking Report Regulation 162

PYMNTS

FEBRUARY 4, 2019

A series of regulations was established to encourage a safer, more transparent financial services environment following the 2008 financial crisis. Failure to meet AML/KYC requirement challenges can be costly for FIs, too, with regulators issuing heavy fines for lax security practices or failure to devote sufficient resources to oversight.

How To 161

How To Regulation Compliance Meeting 161

PYMNTS

JULY 17, 2019

In an interview with Karen Webster, Trulioo General Manager Zac Cohen took a multi-market look at government and thematic approaches to setting (and settling on) ID infrastructures. The most recently-issued cards feature encryption and chips, containing personal information spanning gender, address and ethnicity. The Big Tech Effect.

Course 185

Course Regional Policies Data 185