Can Utah's digital driver's license be a viable form of customer ID?

American Banker

Utah Credit unions Digital ID

Utah 61

Utah: The fintech frontier

BankInovation

Fintechs looking to expand beyond their Bay Area or New York City headquarters have welcomed an unlikely visitor in recent years: Utah Gov. The governor is a great salesperson,” said Val Hale, executive director for the Utah Governor’s Office of Economic Development. “We’ve

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Trending Sources

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

Utah 137

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. The post Utah Becomes the Third State to Establish a Fintech Sandbox appeared first on CCG Catalyst Consulting Group. Banker in the Know CCG Catalyst Arizona Compliance fintech regtech Regulations sandbox Utah Wyoming

Utah 60

Utah’s new regulatory sandbox

CFPB Monitor

Utah Governor Gary Herbert signed H.B. The sponsor of Utah’s legislation, Rep. Marc Roberts, highlighted “the opportunity Utah’s Regulatory Sandbox will give fintech companies and entrepeneurs to test innovative business models and ideas in the marketplace, on a limited basis, without having to jump through the traditional regulatory hoops and licensing requirements which can often times be burdensome, costly and create barriers to entry.”

Utah 60

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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Fintech's deal for tiny Utah bank may rile consumer advocates

American Banker

Fintech Subprime lending M&A Marketplace lending

Utah 73

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.

Utah 39

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.

Utah 78

Utah federal court rules Petition Clause of the First Amendment provides immunity from FDCPA claims

CFPB Monitor

A Utah federal district court recently ruled in two cases that the Petition Clause of the First Amendment of the U.S. In both cases, the defendants had initially filed lawsuits in Utah state court to collect the underlying debts.

Utah 78

California Dept. of Business Oversight launches “true lender” investigation of auto title lender’s partnership with Utah bank

CFPB Monitor

Thereafter, “using its existing lending operations and personnel, LoanMart commenced ‘marketing’ and ‘servicing’ auto title loans purportedly made by CCBank, a small Utah-chartered bank operating out of Provo, Utah.”

Utah 78

This week’s podcast: A close look at Utah’s new regulatory sandbox program

CFPB Monitor

Utah is now taking applications for its new regulatory sandbox program. Marc Roberts, the sponsor of the bill that created the program, and Bryan Cowley, the Utah regulator who will oversee the program’s administration. FinTech State CFS Monitor sandbox utahIn this podcast, we interview Rep.

Utah 60

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

Utah 65

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? If you could build a bank that delivered a 2.49% ROA, twenty three percent deposit growth that is 100% core, and zero non-performing loans, would you do it? That is exactly what Salt Lake City''s Optum Bank delivered.

Utah 81

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.

FDIC 227

Turkish Authorities Search For Suspect In US Tax Fraud Scheme

PYMNTS

Turkish prosecutors have issued a detention warrant for Turkish businessman Sezgin Baran Korkmaz, who has ties to Utah business executives who recently pleaded guilty to a $511 million tax credit scheme in the U.S.,

Taxes 155

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

Utah 32

America First CEO to retire following 46-year career

American Banker

John Lund joined the Utah-based credit union as a courier in 1975 and was named CEO in 2012. C-suite Utah Credit unions Succession planning HiringHis successor has spent more than three decades there.

Altabancorp in Utah faces calls to sell from its biggest shareholder

American Banker

Members of the Gunther family who own nearly a third of the company's stock are urging the board to consider strategic alternatives. Corporate governance M&A

Utah 41

Road Tech That Can Alert Drivers To Hazards, Congestion In Testing

PYMNTS

Utah officials estimate that new vehicle-to-everything, or V2X, technology could reduce the severity of traffic crashes by 80 percent, the Wall Street Journal (WSJ) reports.

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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

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.

Utah 28

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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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.

Utah 60

Edward Jones seeks FDIC coverage for industrial loan company

American Banker

The investment firm is the latest nonbank to try to enter banking through a Utah-based ILC. FDIC ILCs Edward Jones State of Utah Deposit insurance

FDIC 33

Are New Jersey and South Dakota becoming the new tech hiring hotspots?

BankInovation

Carousel Innovation Strategy Premium Mendix Nebraska New Jersey software developers South Dakota tech talent UtahTech hiring is no longer confined to Silicon Valley.

Square’s long-planned bank opens for business

Payments Source

The payment processing company will offer loans and deposit accounts to its small-business customers through a Utah-based industrial bank. ILCs Fintech Square Small business lending

Utah 115

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.

Utah 62

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

Jeff For Banks

My western swing teaching Bank Profitability to the Oregon, Washington, and Utah Bankers' Associations Executive Development Program spurred a lot of discussion on the multi-bank charter strategy and how to grow over large geographies yet empower local decision makers and remain close to the customer. 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 long-planned bank opens for business

American Banker

The payment processing company will offer loans and deposit accounts to its small-business customers through a Utah-based industrial bank. ILCs Fintech Square Small business lending

Utah 77

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. Utah has many Industrial Loan Companies (ILC''s), which are FDIC supervised financial institutions that can be owned by commercial firms not regulated by a federal banking agency, like a utility company. 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. banking trends EDP Executive Development Program industry overview Jeff Marsico Kafafian Group OBA Oregon Bankers Association UBA Utah Bankers Association Washington Bankers Association WBA

Tab Bank ramps up digital transformation

BankInovation

Saying that Tab Bank, a fully digital bank headquartered in Ogden, Utah, began as a modest operation, would be an understatement.

Utah 79

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.

Utah 78

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