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Sizzle Or Fizzle: Payday Loans, Wells Fargo, Chip Cards – And Cybersecurity

PYMNTS

On the heels of Lending Club’s fall from grace this week – the day after to be precise – Wells Fargo announced that it would come to the rescue of SMBs by offering fast decisions on small business loans. Merchants and Chip Cards. Alt Lending. This week, in particular, was tough for a few players – and one sector overall.

Cards 100
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Regulatory and litigation risks to consumer financial services providers highlighted in Ballard Spahr webinar on COVID-19 crisis fallout

CFPB Monitor

Examples given of operational areas that could be impacted by employees working remotely and create compliance and reputational risks included call centers and customer service, collections, dispute investigation, loss mitigation, fraud investigation/ID monitoring, and compliance monitoring.

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FinovateSpring 2016 Live Blog – Day 2

William Mills

This approach makes a lot of sense– but not sure if it would meet the governance and compliance considerations of most banks and investment management firms. ^SR Under the scenario the consumer can transfer much-needed cash as well get cash (that was earned, not paid yet) so no payday or online lending debt is added.

Video 40
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FinovateSpring 2016 Live Blog – Day 2

William Mills

Credit cards offer rewards but over 60% of payments are made on debit cards. Chip card reader for when customers are shopping online to improve security. Verifies the card and pushes that information onto the merchant. The software/platform pieces is the ability to use virtual card numbers. Plus the 1% rewards.

Video 40
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FinovateSpring 2016 Live Blog – Day 1

William Mills

One use case is to use a bot, via text messaging, to help customers when they have potential credit card fraud. There is a growing focus on customer experience and related compliance issues. Card-linked offers generated a lot of excitement a few years ago. Link your card to website or app, select the offer.

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Finovate Fall 2016 Live Blog – Day 2

William Mills

You can look at life events such as marriage, credit card, new job, etc. Addresses compliance, fraud experience and customer experience analytics. Social media is a special challenge since social media was not created with compliance in mind. International lending platform – Create opportunities for Investors.

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The 2015 GonzoBanker Awards

Gonzobanker

Now, to avoid any cue card and teleprompter issues, we’ll just go with the written list again this year. In the age of Twitter, Apple Pay and Lending Club, it’s important to remember the shareholder performance delivered by Gleason and team when compared to the behemoths. And the winners are …. THE BANKING AWARDS. Bravo OZRK!