Payments Dive
OCTOBER 30, 2023
As more merchants accept digital payments for in-store purchases, consumers are moving away from using multiple, single-use payment apps, McKinsey Senior Partner Marie-Claude Nadeau said.
CFPB Monitor
OCTOBER 30, 2023
The Texas federal district court hearing the lawsuit challenging the validity of the CFPB’s final rule implementing Section 1071 of the Dodd-Frank Act (Rule) has issued an order that preliminarily enjoins the CFPB from implementing and enforcing the Rule on a nationwide basis against all entities covered by the Rule. On July 31, the court had denied the request of the plaintiffs in the lawsuit for nationwide preliminary relief and instead issued an order that granted preliminary relief only to
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Payments Dive
OCTOBER 30, 2023
The buy now, pay later company expects to begin being supervised by the federal watchdog in the “immediate future.
CFPB Monitor
OCTOBER 30, 2023
As we previously blogged , the Board of Governors of the Federal Reserve (the “Board”) held an open meeting on October 25, 2023 to discuss the debit card interchange fee cap. The debit card interchange fee cap was part of the so-called “Durbin Amendment” to the Dodd-Frank Act, which required the Board to promulgate a regulation applicable to banks having more than $10 billion in assets establishing maximum debit card interchange fees that are “reasonable and proportional to the actual cost” of p
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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.
Jeff For Banks
OCTOBER 30, 2023
The 2022-23 Fed monetary tightening caused disruption to our depositor base. We either lost deposits to Treasuries, money market mutual funds, or disintermediated into higher cost deposits within our bank. In this video short, I suggest three ideas to improve your deposit strategy as follows: 1. Identify "dead money" in your depositor base and pro-actively deepen your relationship with them. 2.
Community Banking Brief brings together the best content for Community Banking professionals from the widest variety of industry thought leaders.
Ublocal
OCTOBER 30, 2023
Cold weather and snow can damage not only the structure of your home but also wreak havoc on your utility bills. In order to avoid high energy costs and expensive repairs, homeowners should take steps to winterize their homes each year. Whether you are new to Vermont and New Hampshire, or a first time homeowner , you may wonder what is needed to winterize your home.
TheGuardian
OCTOBER 30, 2023
As cap is lifted on Tuesday, unions claim Rishi Sunak is following Liz Truss’s footsteps The Trades Union Congress has accused the Tory government of promoting a “greed is good” culture among bankers, who it said would be able to “cash in on unlimited bonuses” after a cap on payouts was lifted on Tuesday. The TUC said that while ministers had repeatedly called for pay restraint for most workers, they had been “silent over excess in the City”.
CFPB Monitor
OCTOBER 30, 2023
In a comment letter sent last week to Consumer Financial Protection Bureau (CFPB) Director Rohit Chopra, a key financial industry trade group raised concerns that a recent edition of the CFPB’s Supervisory Highlights did not provide sufficient details about the facts or analysis behind the Bureau’s conclusions regarding certain exam findings. .
TheGuardian
OCTOBER 30, 2023
Bank to buyback $3bn in shares after quarterly profits double despite financial hit from China’s property crisis HSBC will hand more than $3bn (£2.5bn) to shareholders, after higher interest rates helped to more than double quarterly profits, despite taking a financial hit on China’s property crisis. The London-headquartered bank said it was launching the share buyback, and pay a dividend worth 10 cents a share, after what its chief executive, Noel Quinn, hailed as “three consecutive quarters of
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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
CFPB Monitor
OCTOBER 30, 2023
The New Jersey Attorney General (NJAG) and the Federal Trade Commission (FTC) recently announced settlements in concurrent actions against Sollers College, a for-profit college, its parent company, Sollers, Inc., and, in the case of the NJAG action , its owner, Siba Padhi (collectively, “Sollers”), resolving allegations that Sollers lured consumers to enroll by inflating its job placement rates and falsely representing that its relationships with prominent employers would create jobs for its gr
American Banker
OCTOBER 30, 2023
Amid intense regulatory scrutiny, market volatility and economic uncertainty, 10 bank M&A deals have been scrubbed so far this year after 13 were scuttled last year. Deal activity has risen slightly lately, but the new normal is hard to gauge.
BankInovation
OCTOBER 30, 2023
LAS VEGAS — Financial institutions have used AI in varying capacities for decades, but recent enhancements to the technology have auto lenders looking to it for decisioning, automation, communication and consistency within their operations.
TheGuardian
OCTOBER 30, 2023
A rush on withdrawals among the possible dangers as sector likely to see risks with ‘a different complexion’ in coming decade, assistant governor says Follow our Australia news live blog for latest updates Get our morning and afternoon news emails , free app or daily news podcast Australia’s banking industry faces emerging threats from potential rapid-fire bank runs to climate change and geopolitical tensions that are without historical precedents, a senior Reserve Bank official has warned.
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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.
BankInovation
OCTOBER 30, 2023
HSBC is managing expenses by investing in technology and increasing efficiency. London-based HSBC’s operating expenses increased by 1% year over year to $7.96 billion in the third quarter, driven by technological expenses and innovation banking costs.
The Paypers
OCTOBER 30, 2023
The Monetary Authority of Singapore (MAS) has planned to start collaborating on digital asset pilots with some European countries and Japan.
BankInovation
OCTOBER 30, 2023
In today’s fast-paced banking landscape, the buzz around artificial intelligence (AI) and automation is palpable. It’s no wonder, as PwC predicts that AI is set to elevate workplace productivity by a whopping 40%. Banking institutions are increasingly turning to virtual assistants as a means to harness AI and boost self-service across digital and phone channels.
American Banker
OCTOBER 30, 2023
In a pilot it rolled out this year, Nashville-based Vanderbilt Credit Union will lend graduates up to $160,000 if they have a job offer sheet in hand.
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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.
BankInovation
OCTOBER 30, 2023
KeyBank is using generative AI to streamline internal tasks before implementing the technology in its consumer-facing channels.
American Banker
OCTOBER 30, 2023
The product-comparison site, which rates and ranks credit cards, is debuting its own secured credit card that it believes will help users improve their credit scores and pursue better offers.
The Paypers
OCTOBER 30, 2023
UK-based payment provider Ryft has opened up its payment infrastructure to easyFood in order to help the latter bring new franchise partners quicker into its system.
American Banker
OCTOBER 30, 2023
Neglect of the employees who personally interact with customers can undermine even the most carefully crafted business strategy.
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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.
The Paypers
OCTOBER 30, 2023
Payment technology provider Tribe Payments has announced that its solutions are available on Temenos Exchange , a partner ecosystem of integrated fintech services.
American Banker
OCTOBER 30, 2023
In October's roundup of top banking news: Navy Federal's contract with the Department of Defense remains in limbo, check fraud takes a bite out of Regions Financial's third-quarter earnings, a Community Reinvestment Act rule gets finalized and more.
The Paypers
OCTOBER 30, 2023
UK-based payment orchestration company BR-DGE has partnered with digital trust and safety solution provider Sift to offer merchants fraud protection services.
American Banker
OCTOBER 30, 2023
By purchasing the merchant acquirer Atlantic-Pacific Processing Systems, the fintech Stax has rounded out its offerings in a way that echoes the structure of larger payment companies.
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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.
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