Perficient

OCTOBER 27, 2022

Seeking additional arrows in their quiver against large bank failures, on October 14, 2022, the Federal Reserve Board (FRB) and Federal Deposit Insurance Corporation (FDIC) published an Advance Notice of Proposed Rulemaking (ANPR). The ANPR is intended to solicit public input regarding whether an extra layer of loss-absorbing capacity could improve optionality in resolving a large banking organization or its insured depository institution, as well as garner feedback on whether the public deems t

Capital 275

Capital Regulation FDIC Regional 275

Payments Dive

OCTOBER 27, 2022

After selling off three business units and taking other actions to “tighten spending” in the third quarter, Fiserv CFO Bob Hau expects cost improvement for the fourth quarter.

Milwaukee 222

Milwaukee 222

CFPB Monitor

OCTOBER 27, 2022

Two recently-passed bills in California, Assembly Bill 2311 (“AB 2311”) and Senate Bill 1311 (”SB 1311”), were signed into law by Governor Gavin Newsom on September 13 and September 27, respectively, placing new restrictions on the sale of Guaranteed Asset Protection (“GAP”) waivers in California. The new laws limit the price of GAP waivers, add new disclosure requirements, ban GAP waiver sales in certain instances, and prohibit financing of GAP insurance in auto loans to servicemembers.

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California Security Regulation United States 148

Payments Dive

OCTOBER 27, 2022

Shoppers aim to stretch their budgets by trying installment payment plans and seeking discounts from retailers, according to a new report.

Report 244

Report Payments Retail 244

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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

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CFPB Monitor

OCTOBER 27, 2022

The CFPB has told two courts, an Illinois federal district court and the Ninth Circuit, that the Fifth Circuit panel decision holding that the Bureau’s funding mechanism is unconstitutional is “neither controlling nor correct” and “mistaken.” . The CFPB addressed the panel’s decision in Community Financial Services Association v. CFPB in its response to the Notice of Supplemental Authority filed by TransUnion in the CFPB’s enforcement action against TransUnion in the Illinois court and in a lett

Illinois 146

Illinois FDIC California System 146

SWBC's LenderHub

OCTOBER 27, 2022

Collecting on delinquent accounts is a time-consuming challenge for many financial institutions. The tasks involved are often tedious for internal employees using manual (vs. automated) processes and can lead to a decrease in productivity for your team.

How To 88

How To 88

CFPB Monitor

OCTOBER 27, 2022

The U.S. Court of Appeals for the Fifth Circuit recently denied rehearing en banc in Jarkesy v. Securities and Exchange Commission , a case with significant implications for the use of administrative law judges (ALJs) by federal agencies, including the CFPB. The SEC is expected to file a certiorari petition with the U.S. Supreme Court. The underlying case in Jarkesy involved an SEC investigation that resulted in an administrative action against the petitioners in which the SEC alleged that the

District of Columbia 78

District of Columbia Fraud Security Community 78

Jack Henry

OCTOBER 27, 2022

In the wake of monumental economic disruption brought on by the COVID-19 pandemic – along with widespread financial fragmentation caused by consumers dividing their financial resources between multiple providers – a bright spot has emerged. Consumers are making their financial health a priority, and they’re looking to their primary financial institutions for help and support.

Strategy 78

Strategy Resources Study 78

CFPB Monitor

OCTOBER 27, 2022

n a recent enforcement action against online alcohol delivery service Drizly and its CEO, James Rellas, the Federal Trade Commission (FTC) made clear its focus on data minimization and limitations on the secondary uses of data. Although the action arose out of a common security failure—the sort that has been the subject of numerous prior FTC consent decrees—the enforcement requirements extend beyond the standard implementation of an information security program.

Data 78

Data Security Training Policies 78

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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

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TheGuardian

OCTOBER 27, 2022

Larger-than-expected drop in profits to £1.5bn in third quarter comes despite rising interest rates Profits at Lloyds Banking Group tumbled 26% in the three months to September as the UK’s largest mortgage lender steeled itself for a potential surge in defaults as it predicted house prices would fall 8% next year. The drop in profits was much larger than the 9.5% analysts had expected, and was the result of having to put aside an extra £668m amid fears that some loan and mortgage customers could

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Groups Policies 89

CFPB Monitor

OCTOBER 27, 2022

In a decision with enormous potential implications, a unanimous three-judge panel of the U.S. Court of Appeals for the Fifth Circuit has ruled that the manner in which the CFPB is funded violates the Appropriations Clause of the U.S. Constitution. After reviewing the decision, we discuss: the CFPB’s strategic options for next litigation steps; the decision’s potential impact on existing regulations and ongoing rulemakings, ongoing and future enforcement litigation and investigations, and consen

Policies 78

Policies Groups Regulation Management 78

BankUnderground

OCTOBER 27, 2022

Galina Potjagailo, Boromeus Wanengkirtyo and Jenny Lam. CPI inflation in the UK has markedly increased over the last year, reaching 10.1% in September. The aggregate increase reflects potentially different dynamics across disaggregated prices, from which CPI inflation is constructed. How much of the increase has been broad-based across a wide range of prices?

Policies 85

Policies US Maine Analytics 85

CFPB Monitor

OCTOBER 27, 2022

Last week, the CFPB filed a lawsuit against ACTIVE Network LLC (“Active”), an online event registration company, in a Texas federal district court alleging that the company is deceiving customers into joining its fee-based membership club, “Active Advantage.” Event organizers seeking to host community activities such as youth camps and charity race events contract with Active to provide online registration and payment processing services.

Online 78

Online Company Texas Community 78

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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.

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TheGuardian

OCTOBER 27, 2022

Shake-up aims to draw line under series of scandals and new £3.5bn loss at Swiss bank Credit Suisse has disclosed sweeping plans to cut 9,000 jobs and to raise billions of pounds from investors, including from the Saudi National Bank, as part of a company-wide overhaul meant to draw a line under a series of scandals and help it recover from a £3.5bn loss.

National 76

National Company 76

CFPB Monitor

OCTOBER 27, 2022

On October 18, 2022, the Federal Trade Commission (“FTC”) announced a settlement with a Washington, D.C.-area auto dealer, Passport Automotive Group (“Passport”), resolving allegations that it had deceived consumers by adding illegal “junk” fees onto car prices and charging Black and Latino consumers higher financing costs and fees. Under the terms of the settlement , Passport will pay more than $3.3 million in consumer redress.

Groups 78

Groups Exercises Lending Policies 78

The Paypers

OCTOBER 27, 2022

US-based financial infrastructure company for businesses, Stripe , has announced its official launch in Thailand, aiming to make it easier and faster for businesses to access the global economy.

US 73

US Company 73

TheGuardian

OCTOBER 27, 2022

Minister for financial services says government’s accountability regime is ‘locked and loaded’ and will not be changed Get our morning and afternoon news emails, free app or daily news podcast The Labor government will push ahead with a new compensation scheme for victims of financial misconduct , refusing to water down civil penalties for the finance sector, and rejecting a claim it would give the responsible minister “god-like powers” to punish banks.

Industry 64

Industry Regulation 64

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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.

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The Paypers

OCTOBER 27, 2022

US-based Bitpay , a provider of Bitcoin and cryptocurrency payment services, has expanded its crypto payment options by adding support for Polygon and MATIC.

Bitcoin 78

Bitcoin Payments cryptocurrency US 78

BankInovation

OCTOBER 27, 2022

Core provider Fiserv is staying focused on innovation opportunities through partnerships and acquisitions. The company’s partnership with cloud-computing provider Snowflake will “enable Fiserv customers to access their payments data in near real-time to better inform their business decisions” through a data-as-a-service (DaaS) solution introduced in September, Fiserv Chief Executive Frank Bisignano said during the company’s […].

Data 52

Data Innovation Payments 52

The Paypers

OCTOBER 27, 2022

Financial market data firm Refinitiv has launched a digital onboarding solution aimed at helping businesses improve their customer onboarding process.

Data 69

Data Marketing 69

BankInovation

OCTOBER 27, 2022

Wealth management giant Envestnet and U.K.-based platform-as-a-service provider FNZ have teamed up to launch a digital, integrated wealth management solution that facilitates real-time account opening and funding, and allows for digitally automated servicing and maintenance offerings. FNZ administers over $1.5 trillion and partners with more than 650 financial institutions, while Envestnet has $325.2 billion assets […].

Management 52

Management Retail 52

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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.

Compliance

The Paypers

OCTOBER 27, 2022

Netherlands-based payment service provider Akurateco has integrated with Qenta to improve client business coverage and market share.

Marketing 69

Marketing Payments 69

American Banker

OCTOBER 27, 2022

Kentucky 83

Kentucky Community Bank Community 83

The Paypers

OCTOBER 27, 2022

Fintech Raisin has announced the migration of its UK platform to ClearBank , a clearing and embedded banking provider for financial institutions.

Fintech 45

Fintech 45

American Banker

OCTOBER 27, 2022

Marketing 69

Marketing 69

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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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