Fiserv poised for more M&A
Payments Dive
JUNE 8, 2023
The payments processor is “highly engaged in” seeking targets to build up its merchant unit in the retail and services verticals, said CEO Frank Bisignano.
Payments Dive
JUNE 8, 2023
The payments processor is “highly engaged in” seeking targets to build up its merchant unit in the retail and services verticals, said CEO Frank Bisignano.
CFPB Monitor
JUNE 8, 2023
A group of federal agencies have proposed reconsideration of value (ROV) guidance for residential real estate valuations. The agencies are the Comptroller of the Currency (OCC), Consumer Financial Protection Bureau (CFPB), Federal Deposit Insurance Corporation (FDIC), Federal Reserve Board (Board) and National Credit Union Administration (NCUA). Comments on the proposed guidance will be due 60 days after publication in the Federal Register.
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Payments Dive
JUNE 8, 2023
The guidance is aimed at helping banks address the operational, compliance and strategic risks of third-party tie-ups, such as those with fintech firms.
CFPB Monitor
JUNE 8, 2023
At the end of March 2023, the CFPB issued its long-awaited final rule to implement Section 1071 of the Dodd-Frank Act. Section 1071 amended the Equal Credit Opportunity Act to require financial institutions to collect and report certain data in connection with credit applications made by small businesses, including women- or minority-owned small businesses. .
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Now is the time for lenders to prioritize their digital transformation initiatives in preparation for the lending rebound. Rising competition and ever-increasing customer demands for speed and efficiency are forcing financial institutions to embrace digital transformation. This shift can feel overwhelming—where do you begin? This infographic illustrates automation demands and shows you how loan document automation serves as an essential step to increase profits and provide the best lending exper
Payments Dive
JUNE 8, 2023
The two big U.S. card companies have diverging views on prospects for open banking. Will it make a difference in their rivalry?
Community Banking Brief brings together the best content for Community Banking professionals from the widest variety of industry thought leaders.
Payments Dive
JUNE 8, 2023
Acquiring the travel, entertainment and shopping concierge service may advance the bank’s interest in having customers use credit card points.
CFPB Monitor
JUNE 8, 2023
In a new “Issues spotlight” titled “ Chatbots in consumer finance ,” the CFPB discusses how chatbot technologies are being used by financial institutions and the limitations and risks of such technologies. The report, which is part of a concerted focus by the CFPB on the use of artificial intelligence and machine learning in consumer financial services, comes on the heels of the recent joint agency statement regarding enforcement efforts “to protect the public from bias in automated systems and
BankUnderground
JUNE 8, 2023
Jonathan Acosta-Smith, Benjamin Guin, Mauricio Salgado-Moreno and Quynh-Anh Vo Over the past years, a growing consensus has acknowledged the need to construct a ‘ system [wherein] every financial decision takes climate change into account ‘ While such a system is still far from reality, market participants already produce and demand an increasing amount of climate-related information.
CFPB Monitor
JUNE 8, 2023
The Federal Reserve, FDIC, and OCC have released final interagency guidance for their respective supervised banking organizations on managing risks associated with third-party relationships, including relationships with financial technology-focused entities such as bank/fintech sponsorship arrangements. The guidance is intended to provide principles for effective third-party risk management for all types of third-party relationships, regardless of how they may be structured. .
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In this report, you’ll find a comprehensive analysis of survey responses from executives at banks, credit unions, and insurance companies concerning their organization’s current and future use of automation. The report’s key insights include: Which types of automation are saving organizations the most time and money How to overcome the biggest barriers to automation implementation and adoption Why automation investments will continue to grow over the next few years How much you could save in 202
American Banker
JUNE 8, 2023
Cashless ATMs — which imitate a typical debit card transaction but code them as cash withdrawals — can lead to hefty fines. But many dispensaries still use the devices, partly due to the murky legal environment that surrounds the entire weed industry.
CFPB Monitor
JUNE 8, 2023
In its 2016 decision in Spokeo v. Robins , the U.S. Supreme Court held that a plaintiff alleging a Fair Credit Reporting Act violation does not have standing under Article III of the U.S. Constitution to sue for statutory damages in federal court unless the plaintiff can show that he or she suffered “concrete,” “real” harm as a result of the violation.
American Banker
JUNE 8, 2023
Financial institutions that received funding from the Emergency Capital Investment Program grew their loans by 35% between 2021 and 2022, according to new research. Now leaders at those institutions are turning their attention to the need for patient deposits.
TheGuardian
JUNE 8, 2023
Bank removes all its ‘new business’ residential and buy-to-let products after surge in demand HSBC has temporarily withdrawn mortgage deals for new borrowers due to a surge in demand ahead of expected rate rises. The bank said on Thursday it would remove all its “new business” residential and buy-to-let products, with deals becoming available again on Monday.
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Commercial lending is on the verge of a resurgence, but traditional processes are an obstacle. Explore the top 3 reasons for resistance to digital transformation and how overcoming them can pave the way for growth and efficiency. Discover why embracing automation and digital solutions is crucial for success in today's competitive landscape. Discover how GoDocs helps commercial lenders in the digital era with seamless integration and a borrower-focused approach.
American Banker
JUNE 8, 2023
The FDIC gave Cadence Bank in Mississippi the highest possible rating on its most recent Community Reinvestment Act evaluation. Cadence was the product of a 2021 merger completed just months after the acquired bank settled a federal lending discrimination case.
TheGuardian
JUNE 8, 2023
Broking relationship with hedge fund to be severed after news report details alleged incidents, which Odey denies The investment banking company Morgan Stanley is to cut its relationship with the multimillionaire hedge fund manager and Conservative donor Crispin Odey after allegations of sexual misconduct were made by multiple female employees. Morgan Stanley is cutting its prime broking relationship with his firm, Odey Asset Management (OAM), after the Financial Times on Thursday reported alleg
American Banker
JUNE 8, 2023
Consumer Financial Protection Bureau Director Rohit Chopra faces tough questions next week testifying before the Senate Banking Committee and House Financial Services Committee.
TheGuardian
JUNE 8, 2023
Offer to write off some of the nearly £1bn owed by publisher submitted to lenders Lloyds Banking Group Analysis: how the Barclay empire lost its grip on the Daily Telegraph The former owners of the Daily and Sunday Telegraph have made an attempt to regain control of their media assets after they were put up for a sale in a bitter row with lenders. The Barclay family has submitted an offer to Lloyds Banking Group that would reportedly allow them to write off some of the nearly £1bn in debts owed
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Technology is rapidly changing the way accountants perform and manage month-end activities. Spreadsheets, email, and shared drives no longer have to slow us down. Join us as we present a "sneak peek" recorded demo of SkyStem's month-end close solution – ART. In under four weeks, your team can start reaping the benefits of month-end close automation by vastly reducing spreadsheets, cut down on reconciliation work, speed up the month-end close, and better manage your remote team.
American Banker
JUNE 8, 2023
Federal bank regulators issued proposed guidelines for banks and other mortgage lenders to craft policies around reconsideration of value requests. The move is the latest aimed at rooting out bias in home appraisals.
The Paypers
JUNE 8, 2023
UK-based Payment Systems Regulator (PSR) has confirmed new requirements for banks and payment companies to ensure reimbursement for victims of APP fraud.
American Banker
JUNE 8, 2023
Threat intelligence has become a viable option for banks looking to gain insights about fraudsters communicating on Telegram with other criminals.
The Paypers
JUNE 8, 2023
The Netherlands has partnered with payment-processing provider Mastercard and launched a contactless transit payments system across the nation.
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Get ready for the wave of $1.2 trillion in commercial debt maturing in the next 24 months with GoDocs' ModDocs® platform. Traditional loan modifications are slow, expensive, and prone to errors, which put lenders at risk. But with ModDocs®, you can enjoy an innovative solution that eliminates attorney fees, allows on-the-fly loan modifications, and ensures compliance.
BankInovation
JUNE 8, 2023
The completion of the intercontinental railroad in 1869 was a watershed moment in American history. It opened a new chapter in the country’s economic growth as the connection of the two coasts by rail made the transfer of resources in the West to markets in the East easier, faster and safer.
The Paypers
JUNE 8, 2023
Amazon has announced that US merchants offering Amazon Pay can add Affirm ’s Adaptive Checkout as payment option.
BankInovation
JUNE 8, 2023
TD Bank is redesigning its mobile banking app to create an easier and more connected user experience as mobile banking demand grows, Head of Canadian Personal Banking at TD Bank Michael Rhodes said at today’s Investor Day 2023 event.
American Banker
JUNE 8, 2023
Regulators need to recognize the uniqueness and potential of cryptocurrency instead of seeking to fit crypto assets into an outdated regulatory framework.
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As we step into 2024, the lending landscape evolves rapidly with technology, regulations, and market dynamics driving change. For banks and financial institutions to stay competitive and meet the evolving needs of their customers, these drivers must be understood and engaged with. Lenders can anticipate significant transformation fueled by technological advancements, regulatory shifts, and changing consumer behaviors.
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