The CFPB Settles With National Credit Adjusters

PYMNTS

The Bureau of Consumer Financial Protection announced late last week it settled with the National Credit Adjusters , a private company, as well as its chief executive and part owner Bradley Hochstein. CFPB Debt Collection National Credit Adjusters News security & fraud What's Hot

Why Nations Fail

Chris Skinner

Robinson from the University of Chicago and co-author of Why Nations Fail, a book that changed thinking about what makes for successful countries and what makes them fail. I had … The post Why Nations Fail appeared first on Chris Skinner's blog.

China Creates National Cyberattack Database

PYMNTS

China revealed that it is creating a national cyberattack database and will require telecom firms, internet companies and domain name providers to report any threats to it.

Estonia Shelves Plans For National Cryptocurrency

PYMNTS

Estonia has shelved plans to develop its own national cryptocurrency after the idea prompted criticism by banking authorities and Mario Draghi, the Italian economist and president of the European Central Bank. Estonia , which is among the most tech-friendly countries in eastern Europe, had been a leader in potentially issuing a national cryptocurrency, but the plan was criticized by Draghi earlier in the year when he said the euro can be the only currency in the country. “No

Citigroup Eyes Creation Of National Digital Bank

PYMNTS

Citigroup is gearing up to launch a digital consumer bank that will be national in scope and will arrive within the next three years. Citing Citigroup Chief Financial Officer (CFO) John Gerspach, Reuters reported the executive said at an investor conference that the financial company is “laying the groundwork for having a national digital bank.

An Innovative Nation is a Connected Nation

Let's Talk Payments

The value of connectivity is difficult to overestimate – nations that are most successful in innovation adoption are the most connected nations, where the rate of internet penetration and mobile.

Startup Roundup: A Look At Local, National And Global Expansions

PYMNTS

As startups such as DadeSystems , FitPay and Jewel Paymentech expand across devices and functions, Tipalti , AvidXchange and Emailage announce new growth for their local, national and global footprints. In the life of a startup, there’s no better news than growth, be it across new verticals, devices or geographies.

Reg Tracker: National Tech Privacy, Facial Recognition Rules Loom (Perhaps)

PYMNTS

New rules may loom for technology providers pertaining to privacy — on a national level. As reported last week by the Information Technology Industry Council (ITI), the trade group — which counts Google and Microsoft among its members — wants to see a quickening in the pace of privacy rules that would supersede such mandates at the state levels.

JPMorgan Chase and National Bank of Canada Complete Blockchain Test

Bank Innovation

and the National Bank of Canada (NBC) announced today that they tested a debt insurance simulation on a new blockchain platform. JPMorgan Chase & Co.

National Bank of Australia Adds Google Pay

Bank Innovation

National Australia Bank (NAB) today added Google Pay to its roster of mobile payments services. NAB customers can now use Google Pay to make contactless payments.

Google 154

Driverless Cars A Threat To National Security

PYMNTS

Transportation and public health experts maintain that self-driving cars will reduce the number of auto-related fatalities and injuries that are typically caused by human error, but Assistant Attorney General John Carlin, head of the national security division at the Justice Department, told Reuters: “The internet on wheels … clearly is going to present national security risks.”.

First National Bank Plans Online SMB Lending Portal

PYMNTS

First National Bank and Trust Company is planning the launch of a digital small business lending portal and has tapped a partner to create the solution. In its announcement, First National Bank alluded to the rise of alternative and marketplace lenders, many of which have changed the way small businesses apply for and receive financing. “We

Tech Trade Group Pushes National, Not State Data Privacy Laws

PYMNTS

Dean Garfield of the Information Technology Industry Council — a trade group that represents Google , Microsoft and other tech companies — is calling for faster development of national privacy norms to avoid opposing state rules. While the California bill faced no opposition, the legislation has alarmed some of the lobbying group’s members as a potential template for other state or national legislation.

National Business Systems VP: For Some SMBs, It’s Still Wait-And-See On EMV

PYMNTS

In an interview with PYMNTS, National Business Systems VP David Riley noted a lack of awareness in the field for smaller firms across several verticals. Security & Fraud Credit Card Security EMV Featured News integrated payments national business systems News payments security POSAfter nearly three years, the transition to EMV in the United States still has its challenges.

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Happy National Coffee Day: Let’s All Celebrate Contextual Commerce

PYMNTS

As a nation of awake-earliers, up-very-laters, last-minute-crammers and entrepreneurs who simply never sleep at all, in this country, we like our coffee. Welcome To National (Free) Coffee Day. If you happened to have missed it, National Coffee Day was technically yesterday, Friday (Oct. Not to be outdone, Tim Horton’s has declared this National Coffee Week and will be topping customers off, free of charge, through Oct. National Taco day is next week (Oct.

Glitch At National Bank of Canada Exposes Personal Information

PYMNTS

The National Bank of Canada, the sixth largest lender in Canada, has become the latest high-profile firm to announce a data breach. According to a report in Reuters , the National Bank of Canada said Thursday (Sept. The revelation on the part of National Bank of Canada comes as consumers in the U.S. Security & Fraud customer information cyber-security data breach glitch National Bank of Canada News security & fraud What's Hot

JPMorgan’s Interest In National And International RTP

PYMNTS

banks before it can become interoperable with other nations’ schemes, according to Art Brieske, head of faster payments at JPMorgan Chase. financial scene and ensuring those on the network can mesh with other nation’s schemes are high priority. Countries from the U.K.

Israel Considers Issuing National Cryptocurrency

Bank Innovation

The Israeli government is creating its own “digital shekel,” according to multiple reports. The move is apparently driven by the desire to reduce black market activity, which makes up 22% of the country’s GDP, the report says.

National Australia Bank Builds SME Lending Features

PYMNTS

With home loan growth expected to slow to 4 percent in 2018, National Australia Bank (NAB) wants to build its business elsewhere, namely in SME lending. Finally, National Australia Bank is also looking to streamline SME customer on-boarding, allowing sole traders to open an online account in about 10 minutes. Australian regulators have been pressuring the nation’s top banks to improve their small business lending practices.

Hackers Find New Avenues for Attacks Via Developing Nations

PYMNTS

Hackers are on the lookout for new ways to attack, and now it looks like developing nations may be a favored conduit. Security & Fraud china Cyber crime darktrace developing nations fraud Hackers india malware News North Korea ransomware Recorded Future Security Symantec Taiwan What's HotAs noted by The New York Times , some sophisticated attacks are surfacing, and they show bells and whistles such as artificial intelligence.

Poorer Nations Are Teaching Their Richer Counterparts About Cybersecurity

PYMNTS

A new United Nations (U.N.) The United Nations ranked the countries based on legal, technical and organizational institutions in the country, the educational and research capabilities of their citizens and the cooperation in information-sharing networks. The degree of interconnectivity of networks implies that anything and everything can be exposed, and everything from national critical infrastructure to our basic human rights can be compromised.”.

New York Venture Bank Seeks National Bank Charter

PYMNTS

New York Venture Bank, a new financial institution (FI) created by big names in the financial services industry, has applied for a national bank charter. Banking Bank Applications commercial lending FDIC Judith Erwin National Charter Nationally Charted Banks New York Venture Bank News OC&C What's HotAccording to a Wednesday (Nov.

National Oil IPO?

Bankelele

The post National Oil IPO?

Island Nation Mauritius To Set Up Fintech Fund

Bank Innovation

The island nation of Mauritius will now have a sovereign fund dedicated to investment in fintech.

National Australia Bank Cuts 6,000 Jobs, Shifts Staff to Digital

Bank Innovation

The National Australia Bank today announced it is slashing its workforce by 12%, or 6,000 job losses, over the next three years. Exclusive Online National Australia Bank Nordea

SGR enters the Nairobi National Park

Bankelele

Kenya’s National Land Commission (NLC) has again published a list of land titles it is seeking to acquire on behalf of Kenya Railways for the construction of Phase 2A of the Standard Gauge Railway (SGR) between Nairobi and Naivasha.

Qatar National Bank Reportedly Breached

PYMNTS

Qatar National Bank (QNB) is looking into allegations that the names and passwords of many of its customers were compromised, Reuters reported on Wednesday (April 27). Security & Fraud Cybersecurity data breach Qatar National Bank security breach what's howThe largest lender in the Middle East and Africa by assets may have become the victim of a cybersecurity data breach.

More Arrests In Punjab National Bank Diamond Fraud Case

PYMNTS

India’s police took more action in their investigation of the loan scam at Punjab National Bank (PNB), arresting three more employees of the bank. Security & Fraud bank fraud finance ministry Financial Crime india Indian Police Mumbai Banks News Punjab National Bank Reserve Bank Of India What's Hot

PYMNTS Daily Data Dive: National Returns Day

PYMNTS

On this year’s National Returns Day — January 5, 2017 — more than 1.3 That’s up nearly 30 percent from 1 million packages on last year’s National Returns Day. Here are the numbers: 1/5/17 | National Returns Day. million | Items returned on National Returns Day in 2017. Daily Data Dive National Returns Day PYMNTS Daily Data Dive returns UPSmillion packages were shipped back to retailers, with a total of 5.8

How Singapore Is Fueling A ‘Smart Nation’

PYMNTS

Singapore is on a mission to build up a Smart Nation by utilizing innovation and technology to create opportunities and strengthen communities. Startups are estimated to employ nearly 300,000 on the island nation. Singapore is poised to become the world’s first country to make the notion of a “Smart Nation” an actual reality. percent, Singapore stands as a nation with a lot to offer a growing and evolving tech ecosystem.

Zelle sings a different tune in national marketing campaign

Mobile Payments Today

The company behind the banking industry's mobile P2P effort had to think outside the box to get the service's core tenants across in three TV commercials

Venezuela launches national cryptocurrency

The Paypers

(The Paypers) Venezuela`s officials have announced the launch of a national cryptocurrency called Petro as a solution to fix the current economic state

Data Security Needs National Standards, Panelists Tell House Subcommittee

PYMNTS

In the wake of breaches that have compromised the data of millions of Americans and companies as far-flung as Equifax and Uber, industry observers and participants told a House subcommittee on Wednesday that data security should be standardized at a national level. A national data standard would supersede the current fragmentation that exists via a multitude of state laws, added those who testified before the House Financial Institutions and Consumer Credit subcommittee.

TSYS Inks Partnership With National Golf Course Owners Assn.

PYMNTS

16) that it has been named the official payment processing partner of the National Golf Course Owners Assn. Payment Methods digital payments global payments provider golf courses National Golf Course Owners Assn. TSYS, the payment processor, announced Wednesday (Aug. NGCOA). In a press release, TSYS said the not-for-profit organization is the only trade association dedicated exclusively to owners and operators of daily-fee, semi-private, private and resort golf courses.

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Punjab National Bank’s Mega-Fraud Leads Sector Away From SMB Finance

PYMNTS

The fallout from what Reuters reports described as “mega-fraud” at India’s Punjab National Bank (PNB) continues, with small- and medium-sized businesses (SMBs) still struggling to access financing as the financial institution (FI) tightens its grip against risks. Reports emerged earlier this year that PNB had fallen victim to a major fraud scheme linked to loan guarantees, eventually becoming one of the largest banking scandals in the nation’s history.

Misinvoicing Costing Nations Billions, Warns UNCTAD

PYMNTS

For others, however, entire national economies can be affected. According to the UN Conference on Trade and Development (UNCTAD), that’s exactly what’s happening in some developing nations, in which invoice errors across Africa and South America are leading to the loss of up to two-thirds of commodity export value. According to UNCTAD, the trading practices of trading partners should be examined just as carefully as the practices of exporting nations.

Digital Services Mean Every Bank Is a National Bank

Bank Innovation

But the most significant revelation from the company’s earnings call yesterday may be that digital banking allows any bank to become national.

India Brings Charges In Punjab National Bank Fraud Case

PYMNTS

The Central Bureau of Investigation (CBI), India’s main investigative agency in the country, has filed charges in the Punjab National Bank fraud case against Nirav Modi, the jewelry retail owner, and his uncle Mehul Choksi, as well as senior executives at the state-run lender.

Bulk Nation And The Frill-Free Customizable Grocery Future

PYMNTS

But Bulk Nation had a radical idea about fixing that problem. “We have more than 3,000 items available on our shelves,” Bulk Nation President Clay Donato noted, “and we mean it when we say customers can buy whatever they want. And, he noted, customers who are coming to Bulk Nation are also going to experience a much wider range of goods than they might otherwise. Retail Bulk Nation

In Bangladesh Heist, Following the Money Through Cyber Twists: Nation Vs. Nation?

PYMNTS

But what happens when the prime mover behind the theft is an actual nation? Acting not against individuals, but another nation? This may call into doubt the security of SWIFT’s messaging itself, but it also brings forth a perhaps even more troubling picture: companies and enterprises and indeed, entire swaths of financial systems, hobbled by the collective might of an actual nation as foe.