Coronavirus Refunds: Utah Jazz To Provide Season Ticket Fans With Reimbursements

PYMNTS

The Utah Jazz is providing reimbursement and credit choices to season ticket holders for the 10 home games left to be played for the 2019-20 regular season, Deseret reported. Coronavirus digital payments mobile payments NBA News sports ticket refunds Utah Jazz

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Utah Becomes the Third State to Establish a Fintech Sandbox

CCG Insights

Utah has joined Arizona and Wyoming in establishing a fintech sandbox, a tool for financial innovators to create new products while being partially shielded from regulatory issues. Banker in the Know CCG Catalyst Arizona Compliance fintech regtech Regulations sandbox Utah Wyoming

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Utah’s new regulatory sandbox

CFPB Monitor

Utah Governor Gary Herbert signed H.B. The sponsor of Utah’s legislation, Rep. ” Utah’s regulatory sandbox, which is effective as of May 13, is similar in many respects to Arizona’s sandbox, which began accepting applications in August 2018 and now has six participants.

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Chris Peterson, former CFPB staff member, announces candidacy for Utah Governor

CFPB Monitor

Former CFPB Senior Counsel for Enforcement Strategy Chris Peterson, who is currently a Professor at the University of Utah S.J. Quinney College of Law, has announced his candidacy for Utah Governor. Regulatory and Enforcement CFPB peterson utah

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Utah de novo gets conditional OK from FDIC

American Banker

Community banking De novo institutions Capital FDIC UtahOrganizers of Bank of St. George still need to raise $18 million before opening.

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CFPB and Utah AG announce joint office hours in Salt Lake City as part of ACFIN

CFPB Monitor

The CFPB and Utah AG’s Office have announced that they will hold the first joint office hours as part of the American Consumer Financial Innovation Network (ACFIN). The joint office hours will be held on January 30, 2020 in Salt Lake City, Utah.

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California governor to fintechs: Forget Utah. Be an ILC here.

American Banker

Gavin Newsom's proposal to create a consumer watchdog modeled after the CFPB includes a provision that would make it easier for upstart financial firms to obtain industrial loan charters. ILCs Innovation Fintech Fintech regulations CFPB California

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Banking Strategies: Should We Look to Utah?

Jeff For Banks

Just this month I taught Bank Profitability at the Utah Bankers'' Association Executive Development Program. Utah, home of the Industrial Bank, is the epicenter of niche banking. And yes, why can''t we learn from the 31 active Industrial Banks from Utah?

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FDIC Approves Square For Banking License

PYMNTS

The Federal Deposit Insurance Corporation ( FDIC ) gave the green light to an application from the FinTech firm Square to create a de novo industrial bank in Utah, the agency said on Wednesday (March 18). The headquarters will be in Salt Lake City, Utah.

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Another state creates tech sandbox as federal agencies tread warily

Payments Source

Utah this week became the third state to let companies test cutting-edge financial products without fear of violating licensing and other regulations. Fintech regulations CFPB OCC Utah Arizona Wyoming

Here’s How Many People Will Work at SoFi Bank

Bank Innovation

Capital Exclusive Operations Risk Startups assets bank charter Bank of America Social Finance SoFi Sofi Bank Utah bank charterIt’s not everyday that a fintech applies for a bank charter, so when SoFi did just that it caught our eye. But will this be a big bank? The short answer is no, or not at least for a few years. Buried in SoFi’s application are details on the proposed bank’s staffing size. The bank […].

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People's Utah Gets Early Start on CFO Succession

American Banker

People's Utah Bancorp in American Fork has its next chief financial officer waiting in the wings a year in advance. breaking_news people ca ut community-banking

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Morning Scan: SoFi Mulls Utah Bank Charter

American Banker

The company has reportedly been in discussions with Utah… morning-scan national-regionalReceiving Wide Coverage. Future of banking: In fintech, as in life, it all comes full circle. While banks are rushing to disrupt themselves through new offerings and partnerships with Silicon Valley, the startups are beginning to look more like banks.

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ralph lauren online shop do look ‘s show up o utah

Gonzobanker

Pick up divas ralph lauren online shop do look ‘s show up o utah.

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VBlog: Three Ways to Remain Close to Customer Using the Bank Division Approach

Jeff For Banks

bank charters bank divisions EDP Fulton Bank glacier bank mercantile bank Oregon Bankers Association Susquehanna Bank Utah Bankers Association Washington Bankers Association zions bank

Square’s ILC bid may open floodgates for fintechs

Payments Source

Fintech regulations ILCs Fintech Law and regulation Square SoFi Varo Money OCC FDIC State of UtahSquare became the third fintech firm in recent months to seek out a bank charter. Others are likely to follow.

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Bankers Tell Me Their Top Industry Game Changers

Jeff For Banks

I teach Bank Profitability for the Washington, Utah, and Montana Bankers'' Associations EDP programs. If you were asked what one industry trend will change the face of banking forever, what would you say?

Bankers Tell Me Their Top Industry Game Changers

Jeff For Banks

This week I did my annual tour of the West, teaching Bank Profitability in the Executive Development Program for the Washington, Oregon, and Utah Bankers'' Associations. Special thanks to the talented bankers in Washington, Oregon, and Utah.

CFPB Director Kraninger to speak at University of Utah S.J. Quinney College of Law on Jan. 31

CFPB Monitor

On January 31, the University of Utah S.J. Quinney College of Law will hold a program, “ Consumer Protection in the Trump Administration ,” at which CFPB Director Kathy Kraninger will deliver remarks.

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Could You Live Your Life on Bitcoin? [Video]

Bank Innovation

That’s more of a challenge, according to this Utah County couple who tried paying for life’s necessities only in bitcoin. Investing in bitcoin is easy. Buying a tank of gas with bitcoin…uh.

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Data: Pot payments on the rise

Payments Source

Now that states such as Michigan, Utah and Missouri voted in favor of legalization in this year's midterms, legal marijuana is poised to become a growth industry. Marijuana banking Compliance Network rules Mobile payments

From bezels to bombs: ATM fraud runs the gamut

Matt Wilcox Pro

The United States Department of Justice recently sent notifications to 2,000 residents in my home state of Utah. Some thieves take on smart ATMs with high tech gadgetry. Others, you could say, have a shorter fuse.

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SoFi’s Bank Charter Has Almost No Chance, Former SEC Chairman Says

Bank Innovation

The charter, submitted to the State of Utah last June, would give the online lender the ability to collect deposits insured by the […].

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Travel Quarantine Presents New Challenges for Your CU

New York's State of Mind

According to press reports, the quarantine currently impacts persons traveling from Alabama, Arkansas, Arizona, Florida, North Carolina, South Carolina, Utah […]. At 12:01 a.m. this morning Governor Cuomo joined the Governors of New Jersey and Connecticut in imposing a 14 day quarantine on persons entering the Tri-State area from states experiencing spikes in the COVID-19 virus.

Payroc adds mobile payment acceptance via app, card readers

Payments Source

Payroc has introduced a mobile acceptance program leveraging iTransact, a Utah-based mobile payments technology firm it acquired last year. Mobile point-of-sale

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Square gets OK for bank; Banks seek regulatory relief

American Banker

Utah bank is expected to launch next year; banks want to hold off regulations that would hamper efforts to keep money flowing during virus crisis. Federal Reserve Square CRA Foreclosures JPMorgan Chase HSBC

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Predatory ‘Rent-a-Bank’ Lending Practices Trigger Calls For Regulation

PYMNTS

OppLoans, for example, partners with a Utah bank and charges an average of 199 percent, according to its website. Utah has no caps on interest rates. “A OppLoans and its Utah partner FinWise Bank have a rent-a-bank partnership that gives it the freedom to avoid caps in numerous states.

FTC Refunds $12M To Consumer Victims Of Bogus Online Trial Memberships

PYMNTS

The FTC alleged the Utah-based company operated deceptive trial memberships and bogus government grant and money-making schemes in 2010. A federal jury in Utah convicted Johnson and Ryan Riddle of making false statements to a bank on multiple I Works merchant account applications.

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Bitcoin Daily: SEC Freezes Crypto Firm?s Assets, Alleging It Stole $12M From Investors; Hong Kong: 39 Pct Of New FinTechs There Are Blockchain Firms; Coinbase Eyes Selling Blockchain Analytics To IRS, DEA

PYMNTS

The defendant in the case is Utah resident Daniel F. Rodriguez of Utah and Jean Paul Ramirez Rico of Colombia — are alleged to have lied to investors and misappropriated funds.

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Finicity Announces New ACH Account Verification API

Let's Talk Payments

New offering for payment and funding apps provides industry’s broadest direct ACH account verification service in North America MURRAY, Utah — September 20, 2016 — Finicity, winner of the Finance. API Banking Fintech News Payments news US

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Japanese FinTech Rakuten Applying For US Banking Charter 

PYMNTS

FDIC) and the state of Utah for an industrial loan company (ILC) charter. The bank would be headquartered in Utah and could handle users’ deposits, according to Lee Carter, Rakuten head of banking and potential ILC CEO.

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Nikola Motor CEO Defends $4M In PPP Funds

PYMNTS

CNBC reported the forgivable government loan comes months after the 38-year-old billionaire bought a 2,600-acre ranch in Utah for $32.5 Trevor Milton, the CEO and founder of Nikola Motor Company , is defending his company’s receipt of $4.1

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5 Ways Walmart Will Impact Your Credit Union

New York's State of Mind

In July of 2005, Walmart filed an application to open an Industrial Loan Bank in Utah. The Utah bank regulator was flooded with 3,500 comment letters describing Walmart’s application as a sign of the Apocalypse. One commenter described a Walmart bank as a “dangerous and unprecedented concentration of economic power.” Others fretted that Walmart would drive […]. General GoBank Green Dot Walnart

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New York To Sunbelt State Tourists: Stay Home

PYMNTS

At the news conference, Cuomo called out several states with surging infection rates whose residents would be included in the quarantine should they travel to the Tri-State area, including Alabama, Arkansas, Arizona, Florida, North Carolina, South Carolina, Washington, Utah and Texas.

Square gets US federal approval to activate as a bank

The Paypers

US-based digital payments company Square has received the approval from federal and state regulators to open a bank in Utah, United States

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