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CFPB Fines First National Bank of Omaha for Add-On Products

American Banker

Two federal regulators have ordered First National Bank of Omaha to pay a total of $35 million over charges that the bank engaged in deceptive marketing of credit card add-on products that some consumers allegedly never received.

Omaha 28
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Data Dive: And The Winner Is Edition — SMBs Worldwide, DoorDash And Gun Regulation

PYMNTS

Participants pitch to a panel of Visa representatives — and a few large client representatives — in what Visa’s SVP of Digital and Marketing Transformation Shiv Singh described as a “Shark Tank”-like format. Additionally, the First National Bank of Omaha announced it will stop issuing an NRA-branded Visa card.

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Guest Post: FInancial Markets and Economic Update by Dorothy Jaworski

Jeff For Banks

As well as the economy has been doing from the momentum of tax cuts and reduced regulation, there are always looming issues. There are some signs of slowing in the housing markets; both existing and new home sales in June fell amidst rising mortgage rates and fewer gains in home prices. Consider the trade wars and tariffs.

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Deep Dive: Why CU-Issued Credit Cards Face An Uphill Battle

PYMNTS

Credit union-backed cards offer several advantages, despite their comparatively miniscule market footprints. In fact, CU interest rates are capped by federal regulations. First of Omaha Service Corp. percent compared to banks’ 13.5 The Federal Credit Union Act, signed into law by President Franklin D.

Cards 102
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CFPB and OCC settles claims of alleged unlawful practices for credit card add-on products

CFPB Monitor

The CFPB announced that it has entered into a consent order with First National Bank of Omaha to settle charges that the bank engaged in unfair or deceptive acts or practices in connection with the marketing and sale of credit card add-on products and the billing of consumers for such products.

Cards 84
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The Wit And Wisdom Of Investor Letters

PYMNTS

In fact, a CEO who thinks their goods or services are anything less than the best the market has to offer is probably not long destined for their job. In recent years, Dimon has also used his annual investor letter to warn of the risks that shadow banking and alternative lending pose to mainstream and heavily regulated banks such as his.

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Ballard Spahr Submits Comment Letter to OCC in Support of Proposed True Lender Rule

CFPB Monitor

As our comment letter explains, in a typical Bank-Agent Program, an Agent may serve as marketing and servicing agent to a Bank that charges interest on its loans nationwide at the rates allowed by federal banking law and the law of the state where the Bank is located. First of Omaha Service Corp., Under 12 U.S.C. § 12 U.S.C. §

FDIC 78