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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

President Barack Obama is warning about the potential negative impact that technology can have on society. President Barack Obama is warning about the potential negative impact technology can have on society. Goldman CEO Denies Claims Of Apple Card Credit Biases. South Dakota Decision. Former U.S. Wayfair case.

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Young Consumers Love to “Buy Now, Pay Later” – Here’s What to Know About the Explosive Fintech Trend

Perficient

Afterpay does not perform a hard credit check on users, but it can still affect credit if users have a credit card as the form of payment connected to their Afterpay account or if they fail to pay back their loans. Notable merchant partners include Best Buy, Home Depot, and Target.

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Apple Watch Earns Pro QB $5K Scolding From NFL

PYMNTS

Apple has added 12 new universities to its contactless student ID program, which allows students to pay for things and gain entry to locked doors, and acts as an alternative to a physical ID card. The students can store money on the digital cards, and use them in places like the cafeteria or the college bookstore to buy supplies.

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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. Sloan noted that the bank is also committed to improving the customer service experience by using technology to give customers more control over their accounts. .

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June’s Top 12 Mobile Pay Moments

PYMNTS

While Apple Pay also recently launched in Singapore, Samsung Pay joins the region with its signature niche: the MST tech that makes Samsung Pay usable at virtually anywhere merchant credit cards are accepted. “New advancements in technology have the potential to transform the payments landscape,” said Mark Ryan from FICO.

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

CFPB Monitor

Citibank (South Dakota), N.A., The Proposed Rule, if adopted, would significantly benefit all parties involved in these arrangements, including their ultimate beneficiaries – the borrowers – by removing risks created by those who would undermine the ultimate goals of the National Bank Act. As the Supreme Court instructed in Smiley v.

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MetaBank, Fiserv To Issue Preloaded Visa Cards For Stimulus Payments

PYMNTS

Treasury will allow two financial technology companies to issue prepaid Visa cards loaded with coronavirus stimulus payments. Reuters reported its sources confirmed MetaBank of South Dakota and Wisconsin-based Fiserv got the go-ahead following lobbying of the Internal Revenue Service (IRS) by payment industry groups.