Wed.Sep 04, 2024

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End in sight? Key tax provisions expiring in 2025

ABA Community Banking

By Paul DavisA series of tax cuts that are poised to expire next year should be on the radar of banks of all sizes.The Tax Cuts and Jobs Act, which was signed into law in December 2017, is largely viewed as the most-sweeping overhaul of the tax code in three decades. It ushered in a […] The post End in sight? Key tax provisions expiring in 2025 appeared first on ABA Banking Journal.

Taxes 59
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Viral JPMorgan Chase glitch is ‘fraud, plain and simple,’ bank says

Payments Dive

Some customers deposited bad checks and immediately withdrew funds before the checks bounced in a glitch that went viral on TikTok. Now, some users have holds on their accounts.

Fraud 369
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Using Copilot in Banking- How to Maximize Your Bank’s Investment

South State Correspondent

Is Copilot for Microsoft 365 (M365) worth it for banks? Microsoft’s integration of ChatGPT into its suite of apps has created a set of productivity tools that some bankers will instantly use. However, Copilot does come with a set of risks, one of which is that some bankers will only reluctantly use the product. This article breaks down the return for utilizing Copilot in banking and how to get the most out of the tool.

How To 195
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Academics question digital wallet security

Payments Dive

Due to lax authentication practices, a thief or hacker can easily add a stolen credit card to their own digital wallet, the study concluded.

Security 243
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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.

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Teacher’s Day Special – 3 Classic Teacher’s Dialogues That Can Double Up As Financial Advice

BankBazaar

Our nation owes a debt of gratitude to our teachers. Their impact on generations of Indians cannot be underestimated. This Teacher’s Day, we pay tribute to the ones who shaped our lives and also throw in some financial lessons that we could all benefit from. It’s Teacher’s Day and it’s time to step up and salute teachers everywhere who have shaped the course of our lives in more ways than one.

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Take The 30-Day Challenge To Improve Your Credit Score

BankBazaar

Your mission, should you choose to go through with it, is to improve your Credit Score in 30 days. Below are the essential hacks you need to employ to succeed in this mission. Are you ready? Let’s go! How much can be done in 30 days? Turns out, a lot – especially if you’re talking about your Credit Score. Yes, it’s true. Now, before we go ahead, let’s set the expectations right.

Cards 78
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Paysafe taps FIS alum for CFO amid growth pivot

Payments Dive

The iGaming payments platform is looking to expand on its “robust” performance in the first half of the year with the appointment of new financial leadership.

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5 Times To Choose Credit Over Cash

BankBazaar

Still using cash because you’re so used to it? Here are 5 reason The post 5 Times To Choose Credit Over Cash appeared first on BankBazaar - The Definitive Word on Personal Finance.

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Transactions: Akoya, Nova Credit team up on financial access

BankInovation

Today, API-connected data access network Akoya teamed up with credit infrastructure and analytics company Nova Credit to allow lenders to deploy cashflow and income data. This will ultimately improve credit decisioning, Misha Esipov, co-founder and chief executive at Nova Credit, told Bank Automation News today. “We have an API connection with Akoya, where customers can […] The post Transactions: Akoya, Nova Credit team up on financial access appeared first on Bank Automation News.

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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

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Top Credit Cards to Save on Fuel in 2022

BankBazaar

The post Top Credit Cards to Save on Fuel in 2022 appeared first on BankBazaar - The Definitive Word on Personal Finance.

Cards 78
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FIs weigh in on US open banking regulation

BankInovation

The Consumer Financial Protection Bureau is expected to finalize its Section 1033 regulation on open banking this fall, and financial institutions are weighing in on the standardization as innovation and institution readiness play a factor. As FIs give their thoughts on the regulation, it’s worth noting that they won’t know the official deadlines and requirements […] The post FIs weigh in on US open banking regulation appeared first on Bank Automation News.

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Why is the UK slashing the maximum banks must refund to fraud victims?

TheGuardian

Consumer groups hit out at regulator’s ‘outrageous’ decision to cut limit from £415,000 to £85,000 Consumer groups have attacked a regulator’s decision to slash the planned maximum amount that banks will have to refund to UK fraud victims from £415,000 to £85,000. One said it meant some people were set to have their lives “destroyed”. The Payment Systems Regulator (PSR) confirmed on Wednesday reports from the previous evening that it was launching a consultation to reduce the threshold, which is

Fraud 77
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Earnings recap: Citigroup's OCC plan, First Guaranty layoffs

American Banker

From Citigroup's positive earnings butting up against fines from the Office of the Comptroller of the Currency, to First Guaranty's 15% layoff, here are earnings highlights to be mindful of.

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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.

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A simple model of the effects of entity and activity constraints on alternative investment funds

BankUnderground

Leo Fernandes, Harkeerit Kalsi, Nicholas Vause, Matthew Downer, Sarah Ek and Sebastian Maxted Hedge funds and other alternative investment funds (AIFs) often take positions in financial markets that significantly exceed their investors’ capital by using debt or derivatives. However, such ‘leverage’ can pose risks to financial stability. Regulators seeking to reduce these risks may consider applying constraints to the fund entities or the activities in which they engage.

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Visa, Mastercard and Google go big in India; U.K. interchange suit moves forward

American Banker

he card brands and tech giants are expanding their payments reach in one of the world's largest markets, while facing a multi-billion-dollar class action complaint by British businesses over fees. That and more in American Banker's weekly global roundup.

Google 78
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Tarabut acquires Vyne in advance of MENA's regulatory changes

The Paypers

Open Banking platform Tarabut has announced the acquisition of Vyne , with the company aiming to scale its ability to provide more accessible and accelerated financial services.

Company 41
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Credit union-bank mergers approach all-time high

American Banker

REV Federal Credit Union in suburban Charleston, South Carolina, plans to acquire First Neighborhood Bank in West Virginia. It marks the 15th deal this year involving a credit union buying a bank, closing in on 2022's record of 16 deals.

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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.

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Bamboo Payment, Ontop to optimise workforce management in Latin America

The Paypers

Global payment solution provider Bamboo Payment has entered into a strategic partnership with Ontop to augment the workforce management landscape in Latin America.

America 41
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Regulators' safety and soundness judgments face questions

American Banker

Recent Supreme Court decisions reducing the ability of regulatory agencies to interpret the meaning of federal laws make it likely that supervisory decisions based on assessments of banks' safety and soundness will face court challenges.

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Kuady expands digital wallet services to Argentina

The Paypers

Open Payment Technologies Ltd, a payment service processor, has announced the expansion of its Kuady digital wallet service into the Argentine market.

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Credit unions rarely engage in BaaS. North Bay is an exception

American Banker

Membership requirements, expense and the nonprofit ethos largely keep credit unions from participating in the banking-as-a-service space. But a few, such as North Bay Credit Union in California, have carved out a niche.

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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.

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MidWestOne Bank partners with Temenos

The Paypers

MidWestOne Bank has announced its plan to streamline customer onboarding by going live with Temenos Digital Onboarding as SaaS on Amazon Web Services.

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Fed hits two community banks with enforcement actions

American Banker

The Federal Reserve fined a Montana bank for violating the National Flood Insurance Act and issued a cease-and-desist order against a Dallas bank over money-laundering concerns.

Montana 68
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Hakbah, Tawuniya Insurance to optimise financial savings in Saudi Arabia

The Paypers

Saudi-based fintech savings platform Hakbah has entered into a partnership with Tawunniya Insurance to provide its customers with life insurance coverage during their Jameya time.

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National HSA Awareness Day

Image Works Direct

The day is coming! October 15 is an ideal opportunity to promote the benefits of opening a Health Savings Account (HSA). The day brings together our communities, the healthcare benefits industry and financial institutions, and it touches on two hot topics: managing health-related expenses and financial planning.

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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.