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Fraud typologies all financial institutions should know

Abrigo

Skimming Fraudsters install hidden devices on ATMs, point-of-sale (POS) terminals, or fuel pumps to steal credit or debit card information. Sweepstakes/charity/lottery scams Victims are told they have won a lottery or sweepstakes but must pay taxes or fees to claim their prize.

Fraud 221
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How community banks can help young homebuyers

Independent Banker

The community bank also hopes to participate in a new tax-exempt savings program for first-time homebuyers that was approved by the state of Michigan in April. The new law allows individuals to set aside money for a home purchase down payment, and money saved via the program is free from state income tax.

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Are Employers The Low-Dollar Lenders Of The Future?

PYMNTS

Dochtermann has been involved in extinguishing several employees’ high-interest debts and sets repayment at a 5 percent interest rate, reducing pre-tax compensation by the loan amount. Fifty-one percent of employed adults continually carry credit card balances; 42 percent of millennials have student loans. and Zebit Inc.

New York 100
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Listen Up: Best PYMNTS Podcasts Of 2018

PYMNTS

No, think of them as miniature seminars. Enjoy these little seminars about the world of payments and commerce, and review at your leisure. The $300 billion Financial Stress Tax. Some veer toward the technical while others come across as more philosophical. The Rise of Contextual Commerce.

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It’s 3 A.M. — Do You Know Where Your Fraudsters Are?

PYMNTS

billion records are available on the black market and more than 603 million payment cards were compromised. He also said that roughly two-thirds of all credit cards are most likely compromised. Today, fraudsters are after more than just financial data and payment card information. Take tax returns, Bush said.

Fraud 100
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Are Millennials in Financial Crisis?

Filene

I had about $20K in student loan debt, $8K in credit card debt, a car note for $12K, monthly rent and utilities, and of course important things like eating to worry about. To help pay down my debt, I enrolled in a financial seminar at the local church and got a second job. I was in over my head and did a ton of worrying.

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Reverse Trend

Independent Banker

It’s not like cross-selling a credit card.” However, because some borrowers spent all of their funds without being able to pay property taxes and homeowners insurance, the FHA now typically prevents reverse mortgage borrowers from receiving no more than 60 percent of the maximum amount of their loan within 12 months after their loan closes.

Trends 70