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Fed Sees Possible Path To ‘Direct Issuance’ Of Digital Dollars

PYMNTS

Cleveland Federal Reserve President Loretta Mester said in a speech this week that a digital dollar could conceivably be a form of money transfer that would enable the Fed to disburse money to all individuals in America. Notably, China’s central bank is already developing and testing a national digital currency in the Asian nation.

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Rocket Mortgage Parent Plans $3.3B IPO

PYMNTS

The company is offering 150 million shares for $20 to $22 each, according to the Tuesday (July 28) filing with the Securities and Exchange Commission (SEC), Bloomberg wrote. Detroit-based Rocket Companies, which owns the Dan Gilbert -founded company Rocket Mortgage , is seeking an initial public offering (IPO) for $3.3

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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.

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Google Pay Adds 29 US Banks To Mobile Payment Service

PYMNTS

First National Bank of Milaca. Greater Cleveland Community Credit Union. Lamar National Bank. Security Bank (NE). First Bank of Boaz. First Central Credit Union. Grand Savings Bank. Greenleaf Wayside Bank. Hatboro Federal Savings, FA. Hometown Community Banks. Iowa Falls State Bank. Journey Federal Credit Union.

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Payroll Fraud Could Cost KeyCorp $90M

PYMNTS

In a K-8 filing, KeyCorp, which is based in Cleveland, said the fraud involved a “business customer” and that it was discovered “on or about” July 9. Regional banking firm KeyCorp disclosed a massive instance of fraud on Tuesday (July 16) that could potentially cost $90 million, according to a report by CNBC. Shares fell on the news.

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Oracle’s three modes of Progressive Transformation

Celent Banking

Suncorp in Australia has started the process of moving off its Hogan core by focusing on unsecured lending; its next stop will be secured lending. KeyBank , based in Cleveland, announced at Open World that it intends to use non-core systems components of Oracle Banking Platform (“OBP”) to enhance and modernize its mobile and online channels.

Cleveland 165
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Visa’s PayWorks Acquisition, Amazon’s Prime Day Top This Week’s News

PYMNTS

Cleveland-based regional banking firm KeyCorp disclosed a massive instance of fraud that could potentially come at a cost of $90 million. The country’s digital economy push comes as the government has also digitalized the national ID card, which every citizen who is older than 16 must wield. and closed at $204.87.

Cleveland 128