Fri.Apr 05, 2024

article thumbnail

Virtual marketplaces risk real losses: CFPB

Payments Dive

Virtual worlds “can become a haven for scams, fraud, financial losses, and unanticipated purchases that can deplete a family’s real-world financial assets,” CFPB Director Rohit Chopra said.

Fraud 361
article thumbnail

While we focus on Dominic West in a banned advert, the banks are short-changing us all | Hannah Dewhirst

TheGuardian

The fuss over an outlawed commercial threatens to obscure the fact that the industry is reaping record profits for a poorer service It’s been quite the year for Hollywood’s humanitarians. Olivia Colman took on pension funds for their role in fossil fuel expansion, Game of Thrones stars Kit Harington and Rose Leslie challenged high street banks’ role in the same polluting activities, and actor Dominic West starred in a Nationwide advert calling out the banks for their sweeping branch closures.

US 107
Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

Trending Sources

article thumbnail

EWA shouldn’t be regulated like loans

Payments Dive

“Attempts to regulate EWA as credit threaten worker access to this innovative and consumer-friendly financial tool,” writes one earned wage access industry CEO.

article thumbnail

Credit Unions, Fintechs Pushing the Industry Forward – What We Heard At GAC 2024

William Mills

Branded under its new moniker, America’s Credit Unions (following the recent merger of CUNA and NAFCU), the 2024 Governmental Affairs Conference (GAC) was a successful one, bringing together credit unions from across the U.S. and the service providers and technology partners that are helping them better serve their members.

article thumbnail

Back to Basics with Reconciliations

Join us in this webinar, where we share best practices on how to think about the reconciliation work each month, when best to do reconciliations, how they should be prepared, and some common pitfalls to avoid. Learning Objectives: This course objective is to understand how to properly prepare and review balance sheet reconciliations and its impact on the financial statements.

article thumbnail

Whole Foods to pull Amazon’s Just Walk Out technology from stores

Payments Dive

The specialty grocer, which operates the checkout tech at just two stores, will follow the same path as Amazon Fresh stores in the U.S., a spokesperson confirmed Friday.

More Trending

article thumbnail

Bank branch acquisitions gather momentum

American Banker

Based on the pace of deals through late March, the banking industry is on track for the most branch sales since 2021. Buyer interest has mounted alongside the need to acquire deposits, following hits to funding bases last year.

article thumbnail

Digital bank OakNorth looks to US expansion

BankInovation

Digital bank OakNorth is expanding its business beyond the United Kingdom and into the United States, exploring a merger and acquisition strategy. “We’ve always been clear that we want to build our business across the U.K. and U.S.,” Chief Executive Rishi Khosla told Bank Automation News.

article thumbnail

Podcast: The CEO view from Main Street

ABA Community Banking

What's the CEO-eye view on the U.S. economy, business conditions and the regulatory environment for banks? The post Podcast: The CEO view from Main Street appeared first on ABA Banking Journal.

Maine 69
article thumbnail

How to make ATMs green-friendly

ATM Marketplace

Managing ATMs well and handling cash responsibly can make using cash eco-friendly.

ATM 94
article thumbnail

How a Managed Services Partner Can Reduce the Friction in Your RDC Program

Treasury teams at community banks face an ongoing challenge of delivering frictionless customer experiences as they support treasury products – especially RDC. This infographic focuses on the efficiencies community banks gain when partnering with a proven managed services provider. You’ll see the advantages you can gain when a managed services partner leverages online tools, skilled customer and technical support personnel, and fulfillment and logistics capabilities to streamline RDC fulfillment

article thumbnail

Digital Federal Credit Union debuts self-service mortgage portal

American Banker

The $12.1 billion-asset DCU launched the loan platform in 2022, and has seen volume jump by close to $600 million from when talks began in 2019 to last year.

Fintech 78
article thumbnail

Spot Bitcoin ETFs change the digital asset market | Embedded Finance market to be worth $22bn by 2028 | Ripple to launch U.S. dollar stablecoin

Bussman Advisory

This week’s must-know stories in the FinTech, AI and Digital Asset space: Spot Bitcoin ETFs change the digital asset market, attracting billions in inflows Embedded Finance market to be worth $22bn by 2028 Ripple to launch U.S. dollar stablecoin, taking on a $150 billion market dominated by Tether Plus, 12 more exclusive stories to help you stay ahead of the curve!

Bitcoin 52
article thumbnail

As CFO of a billion-dollar company, I couldn't get a checking account

American Banker

In an increasingly cashless society, having a basic bank account ought to be an inalienable right. Instead, we have a system that deliberately prevents millions of Americans from making even the simplest transactions.

Company 75
article thumbnail

ABA, associations urge lawmakers to bolster funding for CDFI Fund

ABA Community Banking

ABA joined the Community Development Bankers Association, National Bankers Association and two other associations in urging members of the House and Senate appropriations committees to fund the CDFI Fund for fiscal year 2025. The post ABA, associations urge lawmakers to bolster funding for CDFI Fund appeared first on ABA Banking Journal.

article thumbnail

Budget Playbook for Commercial Lenders — Bank and Credit Union Edition

Amid market uncertainty, banks and credit unions are faced with critical decisions about the future of their commercial lending. With fluctuating interest rates and rising competition from non-bank lenders, it's critical to allocate your 2025 budget strategically to optimize lending operations. Our Budget Playbook for Commercial Lenders delivers key strategies to help you navigate these challenges, ensuring your institution is well-positioned for the coming year.

article thumbnail

Schumer: Banker compensation clawback, cannabis banking, on Senate docket

American Banker

Senate Majority Leader Chuck Schumer, D-N.Y., tapped executive compensation and cannabis banking bills as bipartisan priorities that could see movement in the Senate in the "weeks and months ahead.

article thumbnail

Survey: Customer satisfaction higher when bank branches deliver ‘basic’ services

ABA Community Banking

Customer satisfaction with retail bank branches is much higher than average when banks deliver the fundamentals of customer service, according to a new bank customer satisfaction survey by J.D. Power. The post Survey: Customer satisfaction higher when bank branches deliver ‘basic’ services appeared first on ABA Banking Journal.

Survey 52
article thumbnail

What's driving mobile-wallet spending at high and low values

American Banker

A digital-payment trend that began during the COVID pandemic is being bolstered by features such as rewards and state ID storage.

Mobile 78
article thumbnail

Mastercard to increase credit and debit card fees

The Paypers

US-based payment technology corporation Mastercard has planned to increase fees for credit and debit card transactions by nearly USD 250 million.

Cards 48
article thumbnail

It Takes Two to Tango

With automation, you’ll reduce errors and save valuable time, allowing you to focus on what really matters: strategic analysis and insightful decision-making. Picture accurate financial reports ready at your fingertips, giving you the confidence to tackle business challenges head-on. Embracing automation not only boosts productivity but also elevates your role from number cruncher to closing rockstar.

article thumbnail

NYCB asks shareholders to finalize $1 billion lifeline

American Banker

The Long Island bank is trying to come back from a month-long spiral that sunk its stock price some 80%.

article thumbnail

Klarna launches Wikipink

The Paypers

AI-powered global payments network Klarna has announced the launch of its Wikipink product, a data hub with information on how UK clients use the company’s solutions.

Data 41
article thumbnail

Does the CFPB have mortgage rate discount points in its crosshairs?

American Banker

In a study posted weeks after it raised concerns about "junk fees," the Consumer Financial Protection Bureau noted that the amount of borrowers paying discount points doubled from 2021 to 2023, with the increase larger among consumers with lower credit scores.

Study 28
article thumbnail

Skipify partners with Visa

The Paypers

US-based fintech company Skipify has announced its collaboration with Visa through the Visa Digital Commerce Program, intending to improve how consumers transact.

Fintech 41
article thumbnail

The 2024 Lenders Guide to Automating the Complex Loan

Download the latest edition of GoDocs' "The Lender's Guide to Automating the Complex Loan." This comprehensive guide offers financial institutions valuable insights into document automation for complex commercial loans. It unpacks the intricacies of complex loans and showcases how an automation platform like GoDocs — the leading commercial loan closing platform — delivers impressive benefits and ROI to any FI.

article thumbnail

First Busey's new acquisition, Stax founders launch credit-scoring tool

American Banker

First Busey closes acquisition of Merchants and Manufacturers Bank; Stax co-founders launch a new credit-scoring tool; UMB's marketing chief takes on consumer banking; and more in the weekly banking news roundup.

Tools 28
article thumbnail

Zip launches new enterprise features

The Paypers

Intake and procurement orchestration platform Zip has announced the launch of additional enterprise features that allow businesses to advance their capabilities.

41
article thumbnail

Why Blackrock Opted to ‘Transition’ Socially Responsible Strategies

The Financial Brand

This article Why Blackrock Opted to ‘Transition’ Socially Responsible Strategies appeared first on The Financial Brand. Following backlash, the asset manager has rebranded ESG investing to "transition investing." Does that mean ESG is now a dirty word? This article Why Blackrock Opted to ‘Transition’ Socially Responsible Strategies appeared first on The Financial Brand.

article thumbnail

STC Bank launches in Beta

The Paypers

STC Bank has announced the launch in Beta, as the financial institution received formal approval from the SAMA in order to continue its development journey.

41
article thumbnail

Confronting the Change Challenge

Change is difficult, whether in our private or work life. However, without change, growth and learning are difficult not to mention keeping up with the market and staying competitive. We have all worked for or ourselves are the bosses that prefer to keep the status quo. We will discuss how to address the "change challenge" to enable you to be a changemaker and a graceful recipient of change.