South State Correspondent

MAY 9, 2023

Last week ( HERE ), we looked at how deposit account tiering is used, some of the objectives that banks might employ, and the effectiveness of tiering in total. As discussed last week, many banks tier without objective, without data, and without supportive marketing, thus rendering the methodology worthless and possibly hurtful. We challenged several commonly held assumptions and presented data that would indicate that tiering accounts just by account balance may not be all that it is cracked up

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ATM Marketplace

MAY 9, 2023

Walgreens has deployed more than 1,300 ATMs that not only accept cash but also provide cryptocurrency purchasing/selling and mobile send/receive cash capabilities.

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South State Correspondent

MAY 9, 2023

In the wake of regional bank failures, one potential answer to equity shorting and bank runs is having the FDIC increase deposit insurance. The regulators are considering three options: raising the limit above $250k, raising the cap for only certain accounts (such as banks’ business accounts), or eliminating the cap entirely. Increasing insurance coverage on bank deposits will have unintended consequences and results contrary to what those in the banking industry want and what the U.S. e

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Payments Dive

MAY 9, 2023

A group of lawmakers asked the CEOs of large credit card issuers to explain their late fee practices.

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Technology

American Banker

MAY 8, 2023

Payments 100

Payments 100

SWBC's LenderHub

MAY 11, 2023

Times may be tough financially, but that does not mean consumers are skimping on necessities or sacrificing luxuries to get by. Many are leveraging a popular lending concept that facilitates short-term split payment options to finance their purchases.

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Lending Strategy Payments 148

Payments Dive

MAY 11, 2023

This is the second convenience store chain to install the palm-scanning technology, which is also being used in sports arenas and Amazon’s own brick-and-mortar retail locations.

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Retail Technology 370

CFPB Monitor

MAY 10, 2023

The CFPB has filed its brief with the U.S. Supreme Court seeking reversal of the Fifth Circuit panel decision in Community Financial Services Association of America Ltd. v. CFPB. In that decision, the panel held the CFPB’s funding mechanism violates the Appropriations Clause of the U.S. Constitution and, as a remedy for the constitutional violation, vacated the CFPB’s payday lending rule (Payday Rule).

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ATM Marketplace

MAY 12, 2023

One of the biggest challenges for any business is how do to understand its customers and how to act on that knowledge. The keynote address for the Bank Customer Experience Summit, held from Sept. 12 to 13 in Charlotte, North Carolina, will address this question.

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Speaker: Nancy Wu, Head of Sales and Customer Success at SkyStem

Business operations are getting increasingly complex, shareholders are demanding more, and your auditors are breathing down your neck like never before. In this high-pressure environment, it’s important to remember that reconciliation activity is your last line of defense against financial fraud and errors. Insisting on a manual process to handle month-end reconciliations is a risky endeavor that places an undue burden on your accounting team.

Fraud

TheGuardian

MAY 7, 2023

Exclusive: HSBC and NatWest staffers seconded to shadow business secretary Jonathan Reynolds’s team Labour has been criticised for giving global banks access to parliament after taking an HSBC staffer into its shadow business team, despite the financial giant coming under fire over its links with China. One senior policy manager from HSBC has been seconded to the team of Jonathan Reynolds, the shadow business secretary, and has been given a parliamentary pass since February.

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Payments Dive

MAY 8, 2023

The medical credit card industry has expanded in recent years as healthcare providers promoted the cards to patients, the agency said in a report.

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Cards Marketing Report Industry 397

CFPB Monitor

MAY 12, 2023

The Consumer Financial Protection Bureau (“CFPB”) received more than 225 public comments to its credit card late fee proposal (the “Proposed Rule”). As we have discussed , the Proposed Rule would make significant changes to the current rules for credit card late fees, including substantially reducing the safe harbor late fee amounts that card issuers can charge and eliminating annual inflation adjustments.

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Cards 78

SWBC's LenderHub

MAY 11, 2023

In Fannie Mae’s March Selling Guide Announcement , the government-sponsored enterprise introduced updated guidance to lenders and mortgage industry professionals aimed at modernizing the valuation process. According to the announcement, “Valuation modernization helps lenders, appraisers, and risk investors manage collateral risk more effectively, while also benefiting consumers via greater appraisal accuracy, lower costs, and increased speed of loan decisions.

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What to expect? The commercial and industrial (C&I) lending sector has been undergoing a transformation in recent years thanks to technological advancements and changes in customer expectations. The traditional way of lending, where commercial lenders relied on manual attorney processes and legacy software solutions, is slowly becoming obsolete.

Lending

TheGuardian

MAY 6, 2023

Higher rates slow the renewable energy transition and shield oil and gas producers from competition by low-carbon producers In late 2021, consumer price inflation surged in many countries. Prices shot up again following Russia’s invasion of Ukraine in February 2022. In response, central banks drastically tightened monetary policy – raising interest rates from near zero to around 5% or more.

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Massachusetts Boston Policies Technology 101

Payments Dive

MAY 10, 2023

The card-issuing fintech plans to dismiss about 150 employees in an effort to become profitable. It aims to reduce annual costs by as much as $45 million.

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Fintech Cards 345

CFPB Monitor

MAY 11, 2023

Recently, 37 Senators (36 Democrats, one Independent) and 84 members of the House of Representatives (all Democrats), led by Senator Richard Blumenthal of Connecticut and Congressman Hank Johnson of Georgia, reintroduced the Forced Arbitration Injustice Repeal Act (the “Fair Act”) which would amend the Federal Arbitration Act to prohibit the use of pre-dispute arbitration clauses and class action waivers in consumer, employment, civil rights and antitrust cases. .

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BankBazaar

MAY 9, 2023

Meet Tanveer, a travel enthusiast who loves to explore new places and cultures. He has also been instrumental in helping the company explore new avenues with his contribution to shaping the web content and social media teams at BankBazaar. He pleasantly recalls when he was first approached by the recruitment manager, for the role of a content writer.

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social media US Meeting Management 78

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Software

TheGuardian

MAY 8, 2023

Skipton building society aims product at renters who cannot save enough for a deposit A leading lender plans to launch a 100% mortgage aimed at would-be first-time buyers who cannot save for a deposit, the first since the 2008 financial crisis. Standard home loans where the borrower does not have to put down a deposit used to be fairly commonplace but the last was axed in the wake of the financial crisis.

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Payments Dive

MAY 11, 2023

The payroll provider is angling to disrupt the earned wage access companies that have been making it easier for employers to offer workers on-demand pay.

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Company 312

CFPB Monitor

MAY 11, 2023

The CFPB has issued a circular that addresses the reopening of closed deposit accounts (Circular 2023-02). Specifically, the circular warns that it can constitute an unfair act or practice for a financial institution to unilaterally reopen closed accounts to process debits or deposits. By way of background, the CFPB describes a scenario in which, after a consumer has completed all of the steps required by the financial institution to close a deposit account and the financial institution has clo

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Dataconomy

MAY 10, 2023

AI logo generators might be useful tools if you’re wanting to create a logo for your startup that stands out from the crowd. Logos can be created quickly and easily with the help of AI logo generators, which are online tools that employ AI and machine learning to create logo ideas depending on your preferences. They may help you save time, money, and effort while also providing you with greater freedom to experiment with new ideas.

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social media Branding Tools Cards 89

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Strategy

TheGuardian

MAY 7, 2023

Billionaire investor believes ‘CEO and directors should suffer’ when banks they run get into trouble Larry Elliott: can Biden escape fallout from US banking crisis? The billionaire investor Warren Buffett has said executives who led the US banking system into crisis should face “punishment”, as the American economy grapples with the worst series of bank failures since the 2008 financial crash.

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US System 85

Payments Dive

MAY 12, 2023

From a new U.S. headquarters in Miami, the British cross-border payments company is pitching services to U.S. businesses and consumers.

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Miami US Marketing Payments 273

CFPB Monitor

MAY 11, 2023

The Consumer Financial Protection Bureau (“CFPB”) recently issued advisory guidance on the enforcement of time-barred mortgage loans. A time-barred mortgage loan is one where the statute of limitations has expired. The statute of limitations for mortgage loans are typically created by state law, and vary by jurisdiction. In some cases, they create an affirmative defense for the consumer that prohibits a debt collector from suing to collect the debt. .

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Dataconomy

MAY 8, 2023

The constantly rising number of AI drawing generators is making it hard to find which one best fits your needs. However, it is not impossible when you are searching in the right place. If you are looking for an AI drawing generator list that explains the best of them, you have just found it and more information about AI art’s current state. Did you know the AI industry’s current worth of over $100 billion , and it is forecast to increase by a factor of twenty to around $2 trillion by

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social media Tools Google Community 77

Speaker: Raul Perez, VP and CFO of Lancaster Leaf

Lancaster Leaf Tobacco Co Inc. is a subsidiary of Universal Corporation, the leading global leaf tobacco supplier. Lancaster Leaf supplies virtually all the major cigar manufacturers in the U.S. with filler, binder, and wrapper, and exports filler, binder, and wrapper to international cigar manufacturers. This all could mean a complicated month-end close - before automation.

Case Study