Thu.Aug 04, 2022

Fiserv whittles workforce

Payments Dive

The payments processor cut employees in the first half of the year and shouldered higher severance expense, following a string of acquisitions in recent years

Alt Lending week ending 5th August 2022

Daily Fintech

What we can all learn about markets and speculation from the roller coaster of Crypto The point being made in this piece is that crypto is really only a chimera.

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Gucci expands crypto payment options to ApeCoin, Euro Coin

Payments Dive

More brands have entered the cryptocurrency and NFT markets despite signs of declining consumer interest

XBRL News from Israel, Colombia and Europe

Daily Fintech

Here are the three most relevant developments in the world of structured reporting we became aware of in the course of last week.

How to Choose the Best Automated Documentation System for Commercial Loans

Not all automated loan doc prep solutions are created equal. That is why we have put together a checklist to help you evaluate potential partners and find the best-automated documentation system for your requirements and needs.

FIS reduces 2022 outlook

Payments Dive

The major payments processing company said higher interest rates, increased wages and foreign exchange rates were putting pressure on the business

More Trending

Recession is on the horizon. Is your institution prepared?

SWBC's LenderHub

While there has been discussion for months about the possibility of recession late this year or early next, until early July, this was far from certain. However, recent higher inflation data and monetary policy action has made the probability of recession exceed 90%.

Green Dot expects to benefit from the fintech crunch

American Banker

Payments

FDIC issues advisory on deposit insurance and crypto assets

CFPB Monitor

The FDIC has issued an “Advisory to FDIC-insured institutions Regarding Deposit Insurance and Dealings with Crypto Companies ” to address the agency’s concerns regarding misrepresentations about FDIC deposit insurance by certain crypto companies.

FDIC 78

Bank regulators can't both-sides racial equity in CRA reform

American Banker

Diversity and equality Community banking Regulation and compliance

Digitally Transforming the Engagement Experience for Financial Institutions

Customer experience has become a key differentiator. Learn how to launch your digital transformation by incorporating two customer experience trends into your digital transformation strategy: self-service & personalization.

This week’s podcast episode: The U.S. Chamber of Commerce’s campaign against CFPB Director Chopra’s attempt “to radically reshape the American financial services sector”: A discussion with Bill Hulse, Vice President, U.S. Chamber of Commerce Center for Capital Markets Competitiveness

CFPB Monitor

We first review the views expressed by Director Chopra and CFPB actions taken under his leadership that led the Chamber to launch its campaign. We then discuss the campaign’s specific components, which consist of digital ads, Freedom of Information Act requests, and letters to Director Chopra.

Lawmakers amplify scrutiny of U.S. Bank after sham accounts fine

American Banker

M&A Regulation and compliance Politics and policy

US 61

FTC Proposes Substantive Revisions to Advertising Guidelines

CFPB Monitor

The Federal Trade Commission (“FTC”) is seeking public comment on proposed changes to its guides concerning the use of endorsements and testimonials in advertising. FTC guides are advisory in nature and intended to assist businesses in complying with laws administered by the FTC. .

Would a proposed credit card law be as costly as credit unions claim?

American Banker

Credit unions Payments

Cards 61

Digital Commercial Lending Technology Case Study: Increasing Loan Volume and ROI

In this Commercial Lending Case Study, you'll discover how to leverage digital lending technologies to accelerate growth and leapfrog the competition in the private lending market. A new and innovative approach to mortgage lending — growing lending volume by orders of magnitude.

GOP lawmakers question CFPB’s relationship with state attorneys general and take aim at interpretive rule on state enforcement authority

CFPB Monitor

Three Republican House members sent a letter last week to CFPB Director Chopra raising questions about the Bureau’s relationship with state attorneys general and its interpretive rule issued in May 2022 regarding the authority of state attorneys general and state regulators (State Officials) to enforce the Consumer Financial Protection Act (CFPA).

NCUA announces first charter of 2022

American Banker

Credit unions Regulation and compliance

New York State Proposes Key Amendments to Cybersecurity Reg

New York's State of Mind

Late this past Friday, New York’s Department of Financial Services provided a notice of proposed amendments to the Department’s Cybersecurity Regulation (23 NYCRR 500). This regulation applies to any state licensed or regulated institution and their affiliates. These proposed changes are a big deal. In 2017, New York promulgated its “first in the nation” – […]. Compliance New York State Regulatory Technology 23 NYCRR 500 amendments CISO Cybersecurity Regulation risk assesement

Meta confirms NFT rollout across 100 countries | BlackRock enables crypto access through Coinbase integration | Robinhood cutting about 23% of jobs

Bussman Advisory

The Non-QM Market Experiences a Remarkable Comeback: Check Out the Industry Guide

As the commercial lending market evolves, non-QM loans are becoming increasingly popular. Check out this eBook for a detailed look at the benefits of non-QM loans, how to maneuver your way through, and what the future may bring.

Q&A: How to integrate RPA at financial institutions

BankInovation

Financial institutions’ interest in robotic process automation (RPA) has increased with the improving technology. The global RPA and hyper-automation market size will grow to $26 billion by 2027 from $9.2 billion in 2022, according to a recent?report?from report?from

FDIC promises more scrutiny of banks' commercial real estate loans

American Banker

FDIC Risk management Commercial lending Commercial banking

FDIC 48

FIS’ banking solutions revenue up 6% in Q2

BankInovation

Core provider FIS increased its banking solutions revenue in the second quarter and reported a strong appetite for technology investments among financial institutions. “We’re

Goldman Sachs says it's cooperating with CFPB probe of its credit cards

American Banker

Regulation and compliance Consumer banking Credit cards

Cards 47

A Comprehensive Guide to Construction Loan Issues for the Commercial Loan Market

Understand how to mitigate risk & protect the interest of all parties with this exclusive, must-have guide outlining important issues for commercial construction lending & best practices.

How Arvest Bank ‘upskills’ employees

BankInovation

Lowell, Ark.-based based Arvest Bank is leveraging support from Google Cloud to launch an internal training program for current employees as its needs for technology-focused personnel and resources grows. “We’ve

Why Zelle's owners revived an old brand to battle ID fraud

American Banker

Payments Data security

State of Insurtech Q2’22 Report

CB Insights

After dropping 56% quarter-over-quarter (QoQ) in Q1’22, global insurtech funding stayed flat at $2.4B in Q2’22. Insurtech deals, however, did drop 16% QoQ to hit 132, the lowest count since Q4’20.

Toomey chides Fed for withholding documents in Raskin fight

American Banker

Regulation and compliance Politics and policy

CMBS Lending on the Rise: Uncover 10 Common Myths of Securitized Lending

CMBS Lending is an established and growing industry that is, once again, rising to the top as a significant source of permanent loan financing. Learn the truth about CMBS lending and why it might be the best financing solution.