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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. Digital dollars could make the leap from concept to reality, but there might be a few ways to get there.

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Rocket Trims IPO By 39 Pct From $3.3B To $2B After Investors Reject Valuation

PYMNTS

billion and offered 150 million shares for $20 to $22 each, according to a filing with the Securities and Exchange Commission (SEC). Gilbert, owner of the Cleveland Cavaliers and founder of Quicken Loans will retain 79 percent of the voting power of the company’s common stock through controlling entities, the SEC filing shows.

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Oracle’s three modes of Progressive Transformation

Celent Banking

Suncorp in Australia has started the process of moving off its Hogan core by focusing on unsecured lending; its next stop will be secured lending. KeyBank , based in Cleveland, announced at Open World that it intends to use non-core systems components of Oracle Banking Platform (“OBP”) to enhance and modernize its mobile and online channels.

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Facebook Faces Billions In Possible GDPR Fines

PYMNTS

The amount was disclosed in the Annual Work Program, which had been devised by the European Securities and Market authority at the end of last month. Also in Europe, the European financial markets regulator has said that it wants to spend one million euros to promote market stability in the region as pertains to cryptocurrencies and FinTechs.

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Why Tech Fails Can (Sometimes) Be Inconveniently Fun

PYMNTS

Some failures of technology are very serious. In a world where we are increasingly reliant on technology and automation for a host of day-to-day activities (shopping, paying bills, running errands, working out, managing our accounts), a big tech fail can often be a serious matter. Often, but not always.

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Google Pay Adds 29 US Banks To Mobile Payment Service

PYMNTS

Greater Cleveland Community Credit Union. Security Bank (NE). Community Bank of the Bay. Community First Credit Union (OH). Evans Bank. Federated Bank. First Bank of Boaz. First Central Credit Union. First National Bank of Milaca. Grand Savings Bank. Greenleaf Wayside Bank. Hatboro Federal Savings, FA. Hometown Community Banks.

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Upscale restaurant chain hit by POS breach: Krebs

Payments Source

Cleveland-based Select Restaurants Inc., a national chain of upscale restaurants and bars, has experienced a breach exposing customers’ payment card data through point of sale technology, according to data security expert Brian Krebs.