Payments Dive
FEBRUARY 21, 2024
While both Mastercard and Visa will be impacted by Discover Financial Services’ plan to be acquired by card issuer Capital One, the former is likely to bear the brunt of the blow.
CFPB Monitor
FEBRUARY 21, 2024
As previously reported , in 2023 bills were introduced in the U.S. House of Representatives (H.R. 4198) and the U.S. Senate (S. 3502) to amend the Fair Credit Reporting Act (FCRA) to curtail the practice of trigger leads with mortgage loans. While the goals of the bills are the same, the language of the bills differ.
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Payments Dive
FEBRUARY 21, 2024
While the $35 billion acquisition is expected to prompt antitrust concerns related to consumer card lending, regulators may see competition benefits in the card network arena.
CFPB Monitor
FEBRUARY 21, 2024
On February 14, 2024, the Minnesota Bankers Association and Lake Central Bank (the “Plaintiffs”) filed their memorandum in opposition to the Federal Deposit Insurance Corporation’s (FDIC) motion to dismiss their challenge to the FDIC’s supervisory guidance on NSF fees. In June 2023, the Plaintiffs filed a complaint seeking declaratory and injunctive relief under the Administrative Procedures Act (APA) against defendants FDIC and Chairman Martin J.
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Discover the key benefits of portfolio loans and learn how to streamline your lending process with our infographic, "5 Things Lenders Need to Know About Portfolio Loans & Their Documentation." Find out how portfolio loans can maximize borrower potential by consolidating multiple properties under a single loan, reducing paperwork, and lowering closing costs.
Payments Dive
FEBRUARY 21, 2024
Three senators, including Elizabeth Warren, asked Zelle owner Early Warning Services to provide detailed information about its fraud reimbursement policy.
Community Banking Brief brings together the best content for Community Banking professionals from the widest variety of industry thought leaders.
American Banker
FEBRUARY 21, 2024
The credit card lender's blockbuster acquisition of Discover is not guaranteed to get across the finish line. But co-founder and CEO Richard Fairbank appears to see the rewards that would come from controlling a payments network as outweighing the potential downside.
William Mills
FEBRUARY 21, 2024
In our previous blog , we explored the fundamental role that lead generation plays in the growth of fintech companies. As we continue the conversation, we’ll be diving deeper into some of the tactics and tools that empower fintechs to stay ahead in this highly competitive landscape.
American Banker
FEBRUARY 21, 2024
The combined company could streamline card payments in a manner similar to American Express' "three party network" — while also doing more with artificial intelligence and other technologies.
BankInovation
FEBRUARY 21, 2024
U.S. Bank is using technology company Pagaya to leverage its AI-driven underwriting for personal loans to consumers. Pagaya’s AI-powered credit decisioning platform will conduct a secondary review for consumers who are usually locked out of the credit market, according to the bank’s Feb. 15 release. Pagaya provides U.S.
Speaker: Brian Muse-McKenney, Chief Revenue Officer & Matt Simester, Cards and Payments Expert
In today’s world of social media, dating apps, and remote work, businesses risk becoming irrelevant or getting "ghosted" if they fail to meet the evolving needs of Gen Z consumers. In this new webinar, Brian Muse-McKenney of Episode Six and Matt Simester of Payments Consultancy Limited will reveal key considerations banks should factor into their efforts to develop target products for the next generation of bank customers.
American Banker
FEBRUARY 21, 2024
The world's largest credit union said that Dietrich Kuhlmann, a retired rear admiral and currently the institution's chief operating officer, would succeed retiring CEO Mary McDuffie on March 1.
BankInovation
FEBRUARY 21, 2024
HSBC plans to increase spending in 2024 as the bank invests in technology and its people. Costs are expected to grow to $31.2 billion, up 5% compared to 2023 due to higher technology spend and an increase in staff compensation, according to the bank’s fourth-quarter 2023 earnings release.
American Banker
FEBRUARY 21, 2024
Some analysts said that the Capital One-Discover deal would undercut the reasoning behind the Credit Card Competition Act — authored by Sen. Dick Dubrin, D-Ill. — which aims to spur competition for Visa and Mastercard.
BankInovation
FEBRUARY 21, 2024
Allison Baller, Federal Reserve Bank of Boston vice president and head of industry readiness for FedNow, will speak at Bank Automation Summit U.S. 2024. Baller will join the panel “Strategies for automating real-time payment processes” on Tuesday, March 19, at 3 p.m. CT.
Speaker: Gary Dmitriev
Our upcoming webinar aims to demystify the process of selecting and implementing automation tools for financial institutes. This session will provide your roadmap for vetting potential solutions, focusing on due diligence, vendor assessments, and aligning technology with strategic goals. We’ll also address the critical issue of innovation fatigue, offering tips on maintaining enthusiasm and momentum for new initiatives.
American Banker
FEBRUARY 21, 2024
London-based global money-transfer firm TerraPay has hired Ruben Salazar Genovez, the longtime global head of Visa Direct, in a new role as the startup's president; U.K. challenger bank Revolut has added a tool that uses machine learning to flag payments for fraud; and more.
Realwired Appraisal Management Blog
FEBRUARY 21, 2024
What happens if a Chief Appraiser doesn’t run a world-class department? What’s the impact on your bank? What great looks like (WGLL – pronounced wiggle) for Chief Appraisers involves the intricate task of orchestrating appraisals efficiently while mitigating risks. Most Chief Appraisers want a well-run appraisal department but do they execute on that promise?
American Banker
FEBRUARY 21, 2024
The American Bankers Association's latest credit conditions indices show that economists at major banks are feeling more confident about commercial lending in 2024 — but they stop far short of a ringing endorsement.
TheGuardian
FEBRUARY 21, 2024
Bank’s profits rise 57% but it says there is ‘significant uncertainty’ over liability amid FCA investigation Business live – latest updates Lloyds Banking Group has been forced to put aside £450m for potential fines and compensation for motor finance customers, after the UK regulator opened an investigation into whether consumers had been charged inflated prices for car loans.
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American Banker
FEBRUARY 21, 2024
The top five banks and thrifts have combined total deposits of more than $7 trillion as of September 30, 2023.
The Paypers
FEBRUARY 21, 2024
US-based provider of vertically-integrated payment solutions REPAY has announced am improve technology integration for Sage Intacct.
American Banker
FEBRUARY 21, 2024
In implementing Section 1033, the Consumer Financial Protection Bureau is leaving out auto loans, one of the largest sources of consumer debt.
The Paypers
FEBRUARY 21, 2024
UK-based payments platform BVNK has gone live in Europe after receiving its local EMI licence, following the acquisition of System Pay Services in 2023.
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Shifting liability for digital fraud losses represents a significant challenge for financial institutions and payment service providers. In response to the global surge in digital fraud, regulators are introducing policies that transfer the cost of fraud from defrauded customers to financial institutions. ThreatMark’s newly released white paper, "The Liability Shift: Understanding Fraud Losses Responsibility and Mitigation," provides an in-depth analysis of this shift, its implications, and stra
American Banker
FEBRUARY 21, 2024
Acting Comptroller Michael Hsu Wednesday suggested the Financial Stability Oversight Council adopt a "tripwire approach" for systemic risk assessment, using systemic risk metrics to advance designations.
The Paypers
FEBRUARY 21, 2024
Bud Financial has announced its partnership with Fintech Galaxy in order to provide customers in the MENA region with Open Banking and AI-powered services.
Image Works Direct
FEBRUARY 21, 2024
While an Individual Retirement Account (IRA) is useful to accountholders no matter the time of year, all too often it is only on people’s mind at the end of the year or near tax season.
The Paypers
FEBRUARY 21, 2024
UK-based fintech provider Velmie has announced the roll out of its new Business Banking Platform that addresses the challenges of financial service providers and fintechs.
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Most people dread the nearing of the month-end close and reconciliation process, and who can blame them? It's typically a tedious, long, stressful process; but it doesn't have to be. Implementing automation into your month-end process can significantly reduce this headache by automating up to 40% of your reconciliation and saving nearly 30% of your time spent.
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