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Coronavirus Refunds: Cleveland Indians Unveil Credit, Reimbursement Options

PYMNTS

The Cleveland Indians unveiled credit and reimbursement options for fans along with their new schedule for this year in an announcement. Coronavirus Baseball Cleveland Indians COVID-19 credits News refunds sports

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Cleveland Fed Pulls P2P Lending Report for ‘Revision’ Over Questions on Data

Bank Innovation

The Federal Reserve Bank of Cleveland has taken a report on P2P lending offline due to questions regarding the report’s underlying data. Released earlier this month, the report — which is now under revision, according to the Cleveland Fed — concluded that the P2P lending industry is similar to that of “predatory loans,” and that […]. Compliance Exclusive Lending Payments Risk Social Media Cleveland Fed lending Marketplace Lending Association P2P Lending research

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Coronavirus Refunds: NFL Details Reimbursement Procedure; Cleveland Cavaliers Provide Refund Options

PYMNTS

The Cleveland Cavaliers are offering refund options for fans who hold single-game tickets for a 2019-2020 season that is suspended as of now, Cleveland.com reported. Coronavirus Basketball Cleveland Cavaliers Football NBA News NFL Roger Goodell

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First Financial Bank President to Join Federal Reserve Bank of Cleveland Board

Banking Exchange

Archie Brown has been president and CEO of First Financial Bank since 2018 Community Banking Feature3 Feature Human Resources Management. 1Community Banking

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FedNow is necessary, Fed digital currency is not: Mester

Payments Source

The Cleveland Fed president dismissed concerns about the central bank's faster payments system competing with The Clearing House's network, while saying that a national digital currency is less of a necessity in the U.S.

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New Study Suggests Online Lenders Target Vulnerable Consumers

PYMNTS

The Federal Reserve Bank of Cleveland issued new research on the online lending market showing that borrowers end up in more debt than consumers who don’t utilize this method of borrowing. According to a news report in American Banker covering the study published last week, the Cleveland Fed said it found consumers who take out loans via the internet, either from a peer-to-peer lender or via a marketplace, likely could have utilized a traditional bank.

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Why Two-Thirds Of SMBs Find Themselves Dissatisfied With Online Lenders

PYMNTS

On that score, online lenders have been successful, according to a just-released study from the Cleveland Federal Reserve. That, according to the Cleveland Fed, is the good news.

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Online Lending And A Tale Of Two Fed Studies

PYMNTS

The recent release of a study by the Cleveland Federal Reserve has managed to increase the decibel level of that debate. Cleveland’s Dark Outlook. The Cleveland Federal Reserve Bank captured a lot of headlines with the release of its online lending study – particularly due to its use of the words “predatory” and “needs additional regulation.” Online consumer lending – in a variety of forms – has grown explosively over the last decade.

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Online Catering Platforms Help Restaurants Reach Offices

PYMNTS

To help make this happen, ZeroCater recently notched $12 million in a Series B funding round with Cleveland Avenue as a lead investor, according to Crunchbase. Delivery Cleveland Avenue Corporate Catering Custom Catering food delivery News Restaurants Retail ZeroCaterCompanies often face a dilemma when it comes to corporate catering: They want to order breakfast, lunch, dinner or snacks for their employees, but the process can be complicated.

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Mezu trumpets privacy with new mobile P2P app

Payments Dive

As consumers become more conscious about which companies they share sensitive information with, a Cleveland-based company has launched a mobile person-to-person app that adds a level of anonymity its co-founder and CEO believes is missing from the market

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KeyCorp raises community investment plan to $40 billion

American Banker

The Cleveland company is more than doubling an earlier commitment in order to support racial equity and environmental sustainability. Diversity and equality Climate change CRA Regional banks KeyCorp

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Cleveland Fed's Mester on TBTF, Fintech and Interest Rates

American Banker

In a wide-ranging interview with American Banker, Cleveland Fed President Loretta Mester talks about what should be kept in the push to deregulate banking regulation, as well as her view on reforming the Fed, ending "too big to fail," the future of Basel and the effect of a Trump administration on financial services.

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KeyCorp set to roll out digital bank for doctors

American Banker

The Cleveland company will launch the service in March to broaden relationships its Laurel Road student loan refinancing unit has built with health care professionals.

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Full-Service Branch Access Unaffected Despite Industry Consolidation

Banking Exchange

Report by the Federal Reserve of Cleveland studied whether bank consolidation had impacted customer access Retail Banking Financial Trends Duties Branch Technology/ATMs Customers Feature3 Feature Financial Research.

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5 Questions With… KeyBank Consumer and Digital CIO Kim Snipes

BankInovation

The Cleveland-based bank had a digitally driven calendar year, partnering with Laurel Road for an online lending platform in March 2021 and acquiring payments fintech XUP Payments in November 2021. Technology investment at KeyBank is nothing if not dynamic.

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BofA Will Add 500 New Locations and Redesigns Old Ones With More Tech

Bank Innovation

With these branches, the bank will also move into Cincinnati, Cleveland, and Columbus, Ohio. Bank of America will open 500 new branches in the United States over the course of the next four years, the bank announced today. It will continue to make investments for both physical and digital growth, according to CNBC, and will.Read More. Exclusive Mobile Bank of America BofA branch banking JPMorgan Chase Mobile banking

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PayPal gets cryptocurrency license; Fed official warns on monetary policy risks

American Banker

The New York State “Bitlicense” will allow customers to use bitcoin to make online retail purchases; Cleveland Fed chief says persistent low rates may encourage risky behavior

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Citizen developers pose opportunities, risks

BankInovation

However, fully entrusting citizen developers to integrate software such as Salesforce into core systems is risky, Tracie Cleveland […]. Citizen developers could prove essential for financial institutions (FIs) looking to ramp up automation efforts while avoiding compliance pitfalls.

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KeyBank Takes Equity Stake in Payment Cycle Firm BillTrust

Bank Innovation

Cleveland-based KeyBank announced a partnership with cloud-based payment cycle management firm BillTrust, with KeyBank taking an equity stake in the firm, the companies said yesterday in a statement. Terms of KeyBank’s equity investment were not disclosed. This is the latest in a series of fintech partnerships for KeyBank, according to the company, and will allow […]. Exclusive Online Payments Automation BillTrust cloud services invoicing KeyBank payments the Cloud

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Third Federal's CRA rating stuck at 'needs to improve'

American Banker

For the second time in three years, the Cleveland thrift has received a low score on its Community Reinvestment Act examination for making too few home loans in low-income communities. Compliance OCC CRA M&A

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Former KeyCorp CEO Henry Meyer dies at 70

American Banker

Meyer was credited with guiding the Cleveland company through the financial crisis and returning it to profitability. He died this week at his home in Florida. Beth Mooney M&A KeyCorp Consumer banking Commercial banking

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P2P player wants to mimic cash's anonymity

Payments Source

A Cleveland startup’s play in the crowded and noisy P2P market is to nudge the transaction as close to digital version of paper money as possible — without Venmo’s social tools or Zelle’s email model. P-to-P payments Digital payments Personally identifiable information Customer data Data security Data privacy

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Ohio Firms Team To Put PPE Into Vending Machines

PYMNTS

The companies said all the kitting will be done in Cleveland. CLEANLIFE and D & S are both in Cleveland, Ohio.

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Upscale restaurant chain hit by POS breach: Krebs

Payments Source

Cleveland-based Select Restaurants Inc., a national chain of upscale restaurants and bars, has experienced a breach exposing customers’ payment card data through point of sale technology, according to data security expert Brian Krebs. Data security Point-of-sale

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Biden's pick to lead HUD is Ohio Congresswoman Marcia Fudge

American Banker

Fudge, who has served in the House since 2008, represents most of the majority-Black areas of Cleveland as well as part of Akron. Affordable housing Joe Biden HUD

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KeyBank upgrades relationship banking with human-digital approach

BankInovation

The Cleveland-based bank, which has $156 billion in assets, is using banker-led consulting sessions, complemented by proprietary algorithms, to connect customers with relevant solutions. KeyBank is embracing a human-digital strategy.

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What's in, what's out as KeyCorp resets consumer strategy

American Banker

The Cleveland company will exit indirect auto lending and close branches so it can devote more resources to mortgages, student loans and other relationship-driven, digital-friendly businesses. Digital banking Mortgages Student loans Earnings Branch network KeyCorp Consumer banking

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Colleagues Come Together to Donate Over $20,000 to Support Those in Hunger Around the World

Perficient

Cleveland Food Bank. According to Feeding America and the USDA, in 2019, more than 35 million Americans struggled with food insecurity; and this number has risen to nearly 50 million people during the COVID-19 pandemic. . Coming Together to Support Food Security.

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KeyCorp looking to accelerate pace of branch closings

American Banker

Chris Gorman, the Cleveland company's chairman and CEO, said at an industry conference that an ongoing shift to digital channels provides an “opportunity to continue to ramp up" efforts to shutter physical locations.

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US DOJ Charges 14 With $28M In PPP Fraud

PYMNTS

Levy, 50, of Bedford, Ohio; and Abdul-Azeem Levy, 22, of Cleveland, Ohio. 46, of Cleveland, Ohio; and Bern Benoit, 44, of Burbank, California. The U.S.

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Fed, Central Banks Frame Criteria For Digital Currency

PYMNTS

Last month, Cleveland Federal Reserve President Loretta Mester said in her speech “Payment and the Pandemic” that laying the groundwork for digital currency has been a priority since before COVID-19. .

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KeyCorp Earnings Take Hit from Merger-Related Expenses

American Banker

KeyCorp in Cleveland posted lower profit after merger-related costs cut into its bottom line. breaking_news dealmaking-strategy national-regional

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KeyCorp defends its credit cushion as ample

American Banker

Other regionals set more aside for loan losses than the Cleveland bank did in the second quarter, and its ratio of reserves to total loans is slightly lower, too.

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KeyCorp Shareholders Reject Splitting CEO, Chairman Roles

American Banker

Shareholders at KeyCorp in Cleveland soundly rejected a proposal to separate the chairman and chief executive roles. breaking_news dealmaking-strategy oh national-regional

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Xealth Raises $14M In Series A

PYMNTS

New investors Atrium Health, Cleveland Clinic and MemorialCare Innovation Fund joined McKesson Ventures, Novartis, Philips, ResMed, Threshold Ventures (formerly DFJ Venture), Providence Ventures, UPMC and Froedtert and the Medical College of Wisconsin health network as participants in the round. Medical Director of Distance Health at Cleveland Clinic.

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