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Fed to review debit card fee cap next week

Payments Dive

The Fed hasn’t changed a debit card fee cap since it was put in place in 2011, but it's planning to take up the issue at a meeting next week.

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Tandem, Harrods Acquisition to Restore Tandem as a U.K. Fintech Player

Bank Innovation

It’s happened before — Green Dot bought Bonneville Bank back in 2011, and there have been a few others, but it’s far from a trend — yet. A bank buying a fintech company is newsworthy, but a fintech startup buying a bank means the industry may be changing. But that kind of change is what […].

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Moven Gets Funding from SoftBank and Looks to Returns to Roots with Bank Acquisition

Bank Innovation

Moven burst onto the fintech scene in 2012 — it was founded in 2011 and launched an alpha product in 2013 — as Brett King’s bank, or bank account. Neobank Moven has secured an undisclosed amount from SoftBank and is looking to acquire a bank with the funding, according to an American Banker report. Originally […].

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What’s it like being unbanked?

Chris Skinner

Source: World Bank More detail about these figures can be found in the World Bank’s Global Findex report and database, which estimates that the number of people worldwide having an account equates to 62% of the world’s adult population has an account in 2014, up from 51% in 2011. In 2011, 2.5 This represents a 20% decrease.

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Swedish Payment Company iZettle Raises $47 Million in Funding

Bank Innovation

Established in 2011, iZettle enables small business merchants across Europe and Latin America to accept card payments. Swedish payment company iZettle today announced it raised €40 million ($47.05 million) in funding to accelerate growth. The round was led by venture capital firm Dawn and The Fourth Swedish National Pension Fund.

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Why cryptocurrencies are more trusted than banks

Chris Skinner

I spotted a chart the other day showing the millions of dollars lost on cryptocurrency platforms … Source: The Wall Street Journal Since 2011, there have been 56 cyberattacks directed at cryptocurrency exchanges, initial coin offerings and other digital-currency platforms around the world, according to Autonomous Research, bringing the total … (..)

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Fraudsters Have Always Used Deception. It’s a Key Tool for Cybersecurity, Too

Bank Innovation

Just last month, the bank agreed to pay $480 million to settle a lawsuit from investors accusing Well Fargo of securities fraud related to its fake-account scandal from 2011 to 2016 in which 2 million fake accounts were set up. “We Wells Fargo & Co. has had a very public battle with fraud. We have alerting to […].

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