Independent Banker

MARCH 31, 2022

Julieann Thurlow, CEO of Reading Cooperative Bank, hopes other ICBA member banks will support the CHUCK payment network. A different kind of peer-to-peer payment service is now available, “built by community banks for community banks.”. Photo by Donis Perkins. By Katie Kuehner-Hebert. Name: Alloy Labs Alliance’s.

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Community Bank Community Payments Meeting 91

Independent Banker

DECEMBER 31, 2022

The FDIC approved a final rule to increase initial base deposit insurance assessment rates by 2 basis points until the Deposit Insurance Fund (DIF) achieves the FDIC’s long-term goal of a reserve ratio of 2% of insured deposits. The FDIC’s long-term goal for the reserve ratio of insured deposits. Source: FDIC.

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Compliance FDIC Community Bank Community 100

PYMNTS

MARCH 4, 2019

small business loan volume has given its SMB loan portfolio greater than “almost 98 percent of FDIC-insured banks,” citing FDIC statistics on outstanding loans of less than $1 million. Last year, the FDIC warned that the actual value and volume of small business bank loans in the U.S.

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FDIC Lending US System 130

PYMNTS

APRIL 24, 2020

Yet demand for contactless payments and digital, automated financial solutions means FinTech funding may not take as hard of a hit as other startup segments. bank technology firm securing $100 million to expand in the region. The investment is part of KarbonCard’s seed round, which secured another $1 million last month.

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Fintech Capital Security FDIC 193

Abrigo

JANUARY 4, 2023

Although yet to be considered mainstream by most, cryptocurrency as an investment and payment method has become more commonplace. The Federal Bureau of Investigation (FBI) states that crypto is becoming the preferred payment method for many types of scams—and not just on the dark web, where crypto is used to fund illegal activity. .

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social media Fraud cryptocurrency Trends 195

PYMNTS

NOVEMBER 18, 2019

In today’s top payments news, U.S. payments gateway Sage Pay for $300 million. Also, Apple criticized the vote of German lawmakers to pass new legislation that would make it open up its mobile payment system to rival providers. Germany To Force Mobile Payment Providers To Share Systems With Rivals. And the U.S.

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System New Jersey Payments Apple 100

Abrigo

FEBRUARY 8, 2024

Takeaway 2 Client fraud education at financial institutions should include takeaways that explain how to protect themselves from phishing and tips for staying secure online. While fraud detection software and robust security measures are essential, educating clients on fraud prevention is equally important.

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Fraud Resources social media Software 195

Bank Innovation

APRIL 24, 2019

Secretary of the Treasury Steven Mnuchin said today that he prefers private over government solutions when it comes to collecting and using consumer data for financial products and services, speaking at a fintech conference hosted here by the FDIC.

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Data FDIC Washington Conference 170

FICO

APRIL 7, 2022

This blog discusses another crucial aspect of financial services, which is secure digital banking and the fundamental duty of banks to make customers feel that their assets are safe. Customers expect financial institutions to provide an ample amount of security and protection. Make security a call to action – a shared responsibility.

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Digital Banking Security Fraud America 52

PYMNTS

MARCH 26, 2020

As part of that stimulus package , payments of as much as $1,200 will be given to individuals, and $500 per child. The remaining tens of millions, those who do not have direct deposit payment information on file with the IRS … will have to wait for the proverbial (paper) check in the mail. FDIC) has estimated that 8.4

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Cards Course FDIC Payments 252

Independent Banker

OCTOBER 1, 2022

In the case of a cyber event, first-party coverage often pays for costs such as forensics and analytics to understand the scope of a breach, attorney fees to manage legal exposures, notifications for employees and customers, ransom payments, data restoration and business interruption costs. Not every policy is going to be the same.

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Montana Policies Resources FDIC 152

PYMNTS

JANUARY 7, 2021

“GO2bank is built to be the go-to destination for seamless, affordable, useful banking — combining the security, stability and experience of an FDIC-insured bank with the innovation and agility of a leading FinTech,” Green Dot Corp. CEO Dan Henry said in a press release. Stimulus Checks Pose Issues For H&R Block, TurboTax .

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California FDIC Regional Taxes 142

PYMNTS

SEPTEMBER 30, 2020

The House committee held a hearing on the idea after Acting Comptroller of the Currency Brian Brooks in July proposed a new special purpose national banking charter for payments companies. FDIC), the states and the courts. However, the banking industry doesn’t like that one bit. “We Specific Concerns .

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Regulation National System Industry 349

PYMNTS

MAY 26, 2016

A new report from the Federal Deposit Insurance Corporation (FDIC) shows that mobile banking can empower underserved customers to have greater control over their finances and ultimately open up access to mainstream banking.

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Mobile FDIC Survey Security 104

Abrigo

NOVEMBER 22, 2021

Banks and credit unions extending payments on vehicle loans, personal loans, or other consumer loans had to ensure they provided accurate disclosures in compliance with federal and state consumer protection laws. Major consumer loan compliance regulations.

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Compliance Lending Risk Management Regulation 195

PYMNTS

DECEMBER 2, 2020

Step customers get a bank account that is insured by the FDIC, as well as a secured spending card backed by Visa and the P2P payments platform. Users can transfer funds in real time without any fees.

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Fintech FDIC Resources Management 217

PYMNTS

DECEMBER 16, 2020

resident and non-resident international clients of Aeldra can open an FDIC-insured U.S. i2c's global platform and capabilities enable us to scale securely, stably and globally to fulfill our vision of borderless banking. Aeldra, whose partners include Blue Ridge Bank, N.A, provides global clients with smooth access to U.S.

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United States FDIC California Mobile 168

CFPB Monitor

DECEMBER 5, 2022

The Bureau claimed that depositors’ funds were invested in volatile securities or securities-backed investments. Customers were depositing funds into accounts similar to traditional savings accounts with guaranteed returns, creating the impression that Loan Doctor was a commercial bank.

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Marketing FDIC Security Payments 78

PYMNTS

AUGUST 3, 2020

Google’s expertise in building great user experiences and a highly-scaled and secure infrastructure is a great complement to BankMobile’s financial and regulatory expertise and its unique customer acquisition funnel in the higher education segment.”. college-bound students through relationships with 800 campuses nationwide.

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Google Digital Banking Pennsylvania FDIC 239

PYMNTS

JANUARY 31, 2019

is set to see its first new community bank in decades, as the Federal Deposit Insurance Corporation (FDIC) lent its approval for MOXY Bank to launch in Washington, D.C. The FDIC’s announcement said a private placement offering will raise at least $25 million for the bank ahead of its launch. .” Bloomberg listed Casey G.

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Community Bank Community FDIC Marketing 122

PYMNTS

DECEMBER 23, 2020

The company offers FDIC-insured bank accounts and a Visa -branded payment cards for teens (aged 13-18) with budgeting features and other financial education tools built in. But it also has to be something that parents see as trustworthy, secure, stable and likely to promote financial literacy. We don't take that lightly.

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Fintech Cards FDIC Lending 322

Perficient

APRIL 2, 2021

The five federal agencies are: the Consumer Financial Protection Bureau (CFPB), the Federal Deposit Insurance Corporation (FDIC), the Federal Reserve Board (Fed), the National Credit Union Administration (NCUA) and the. Office of the Comptroller of the Currency (OCC).

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Regulation Industry Risk Management Analysis 309

PYMNTS

MARCH 6, 2019

Yet the FDIC said in previous analysis that the actual volume of traditional bank loans to small businesses in the U.S. may be significantly greater than is reported, with many institutions only reporting small business loans as being $1 million or less, as well as loans that are secured by residential real estate.

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FDIC Lending Capital Analysis 116

PYMNTS

JULY 14, 2020

Given how much the demand for installments is increasing, we are also using the already existing parts of the credit system today to scale installment payments with every [Visa] card across the board,” Cetin Duransoy , Visa ’s global head of installment solutions, told PYMNTS. This follows a pilot rollout in Russia last month.

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Lending FDIC Minneapolis Utah 130

PYMNTS

JUNE 25, 2019

.” The publication noted that FinTech firms collaborating with Cross River are able to take advantage of the community bank’s Federal Deposit Insurance Corp (FDIC) membership, using the FI to connect with traditional financial and banking infrastructures without having to go through the process of securing their own FDIC licenses.

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Community Bank Community Digital Banking FDIC 116

PopularBank

DECEMBER 1, 2021

Which means now might be a good time to explore alternative payment options. Security and convenience of payment options. The Federal Reserve Bank of Boston reports that bills represent about 30 percent of overall consumer payments, with most bills being paid by using a card or electronic methods. You’ve heard U.S.

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Online Mobile Fraud Boston 98

PYMNTS

JULY 23, 2019

Among the main stories in payments in recent months has been the increasing push to reform federal banking laws so that legal cannabis retailers can move away from their cash-based businesses and move further into the world of the digital payments. On Tuesday (July 23), that push lost some steam, at least temporarily. billion by 2020.

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Taxes US California Idaho 187

PYMNTS

APRIL 2, 2019

in decades, has announced that it is working with technology solutions company NYMBUS to integrate its core digital banking and payment services. Following approval by the Federal Deposit Insurance Corporation (FDIC) and Washington, D.C.’s MOXY bank , preparing to be one of the first new community banks to launch in the U.S.

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Community Bank Community FDIC Washington 117

Payments Source

JULY 17, 2016

FDIC) narrowly avoided disaster when sensitive information for 44,000 agency customers was stored without proper security measures…on a personal storage device. Earlier this year, the Federal Deposit Insurance Corp.

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FDIC Data Security Analytics 60

PYMNTS

NOVEMBER 23, 2020

While many digital-first companies springboard from payments into lending, Figure Technologies , a FinTech focused on home improvement, debt consolidation and retirement products that leverage blockchain protocols, is branching out from lending into payments. Blockchain and a bank charter might do much to boost financial inclusion.

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National blockchain Montana Lending 215

PYMNTS

DECEMBER 18, 2018

Now comes a comic book contribution to one of the most vexing and vital issues of modern payments and commerce — fraud prevention and ID compliance. Indeed, education in general is important to increased online security, privacy and fraud prevention efforts. Trulioo , which sells identity verification services, said on Tuesday (Dec.

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Compliance Fraud Security Course 152

PYMNTS

NOVEMBER 30, 2018

According to The Next Web , Jared Rice defrauded investors out of $4 million after he claimed the company would become the “first decentralized banking platform” — offering FDIC -insured accounts and banking services, as well as Visa -branded credit cards and other cryptocurrency services.

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blockchain Bitcoin cryptocurrency FDIC 136

PYMNTS

JULY 1, 2019

Facebook’s announcement of Libra late last month has spurred greater regulatory oversight of cryptocurrencies, with a particular eye on who may be bringing those cryptos into the larger payments ecosystem. And, you’d be forgiven for thinking that regulatory news tied to commerce and payments would be termed “all Facebook, all the time.”

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cryptocurrency Regulation social media FDIC 100

PYMNTS

JANUARY 26, 2021

Wider adoption will be driven, in part, by regulatory frameworks that enhance security and foster trust in using cryptos in everyday commerce. As reported last year, Ternio partnered with Visa as part of the payments network’s Fast Track program as Visa’s first crypto-focused enablement partner.

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cryptocurrency Bitcoin blockchain FDIC 256

PYMNTS

NOVEMBER 1, 2018

The ongoing struggle, supposedly existential in nature, that pits upstart, relatively young FinTech firms against arrogantly complacent banks for supremacy in this new and growing world of digital payments and commerce. And that is a bank – one with FDIC insurance and safeguards that keep their money safe.

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Fintech UX Mobile FDIC 191

PYMNTS

AUGUST 16, 2019

“We already have an employee presence in these markets with talented securities, lending and treasury management professionals, and these offices will allow us to better access talent in these geographies,” he added. and offer clients FDIC-insured accounts.

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Los Angeles New York FDIC Lending 101

PYMNTS

OCTOBER 6, 2017

That statement may come as a surprise against a backdrop where digital wallets and eCommerce have grabbed their share of headlines and acclaim in the payments world. Cash may not be the preferred method of payment in all scenarios – but then again, it holds its own. That’s had some impact on cash payments – how could it not? –

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United States Study Cards FDIC 119