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Fed Sees Possible Path To ‘Direct Issuance’ Of Digital Dollars

PYMNTS

Cleveland Federal Reserve President Loretta Mester said in a speech this week that a digital dollar could conceivably be a form of money transfer that would enable the Fed to disburse money to all individuals in America. Notably, China’s central bank is already developing and testing a national digital currency in the Asian nation.

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Blockchain’s Inroads Through National Frameworks And Trade Finance

PYMNTS

Blockchain is increasingly being separated from cryptocurrency, with an eye toward disparate use cases — some done at the national level. The newswire said that Berlin exists as a “hub” for the industry, where roughly 10 startups focus on blockchain, and end markets span energy, pharma and transportation.

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Google Pay Adds 29 US Banks To Mobile Payment Service

PYMNTS

First National Bank of Milaca. Greater Cleveland Community Credit Union. Lamar National Bank. This year has been a busy one for Google Pay, as it tries to gain prominence in a crowded market with competitors like Apple Pay , Samsung Pay and even Walmart Pay. First Bank of Boaz. First Central Credit Union. McClain Bank.

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Payroll Fraud Could Cost KeyCorp $90M

PYMNTS

In a K-8 filing, KeyCorp, which is based in Cleveland, said the fraud involved a “business customer” and that it was discovered “on or about” July 9. percent and the company lost about $178 million from its market cap, dragging it to $17.56 Shares fell on the news. The event occurred in the beginning of Q3. Shares in KeyCorp fell 1.8

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Community banks most likely to approve small business loans

Abrigo

Over the first half of 2014, these banks, with an approval rate of just under 60 percent, beat out large national banks (31 percent), large regional banks (45 percent) and online lenders (38 percent). Its goal was to capture the perspectives of small businesses with less than 500 employees across ten states.

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How Boutique Trucks Are Bringing New Meaning To Fast Fashion 

PYMNTS

Food trucks have been around since the 1970s, when taco trucks began making the rounds in New York City, but didn’t become a national sensation until 2008 when two events coincided in such a way as to make a long extant — but largely niche — subsegment of the restaurant game into a mass market phenomenon. It’s the social aspect.

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Durant’s Decision: How Star Athlete Departures Impact Brands, Retailers

PYMNTS

From an economic standpoint , James’ departure, which he announced in a highly controversial one-hour primetime special broadcast on ESPN entitled “The Decision,” was immediately felt in Cleveland and to the value of James’ own brand. This was handled much better than LeBron handled ‘The Decision’ in 2010,” Rishe said by email.

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