Mon.Feb 12, 2024

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Analyst Insights: Two Banks that Deliver to Shareholders

Jeff For Banks

Be curious. That's how I approach Twitter ("X"). Yes, there are some dumpster fire opinions. But then again, there are some real valuable insights that I and we can learn from. And this most recent string by bank analyst Perry Weinstein is one of them that I thought should not be lost to a tweet stream. Perry's perspective is clearly focused on shareholder value and may be viewed as shareholder primacy, a sometimes derogatory term because pursuing shareholder value could be done at the expense o

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Card networks to implement gun code in California: report

Payments Dive

Visa, Mastercard and American Express are moving forward with use of a new gun merchant category code for credit card purchases in California, according to CBS News.

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Fintech trade group sends letter to Director Chopra urging CFPB to develop regulatory approach for earned wage access products

CFPB Monitor

The American Fintech Council (AFC), a trade group whose members include providers of earned wage access (EWA) products, has sent a letter to Director Chopra urging the CFPB to take steps towards development of a “pragmatic regulatory approach” for regulating EWA products. In its letter, AFC discusses the “patchwork approach” to regulating EWA products that is emerging at the state level. .

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More than half of P2P fraud victims lose money: AARP

Payments Dive

“When it comes to addressing instances of financial exploitation, consumers are less likely to trust P2P platforms than banks and credit unions,” an AARP survey reported.

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Leverage Trellis Court Data To Identify More Investment Opportunities

Finance teams find Trellis to be particularly effective in conducting comprehensive due diligence on both individuals and businesses. With our court data solution, financial experts can access critical litigation insights, making it an invaluable resource for informed decision-making in the financial sector.

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Failed Kansas bank rapidly borrowed $21 million from FHLB system

American Banker

Heartland Tri-State Bank, which failed after its CEO allegedly embezzled money to fund cryptocurrency investments, received $21 million in advances from the Federal Home Loan Bank system prior to failure.

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The Guardian view on the digital pound: an impetuous idea with a risky momentum of its own | Editorial

TheGuardian

A ‘Britcoin’ would trade convenience for societal dangers that hard cash keeps in check Two years ago, the House of Lords looked into whether the Bank of England should issue digital pounds to be held in electronic wallets. Peers were unconvinced, asking if this wasn’t “ a solution in search of a problem ”. Last December, MPs on the Treasury select committee said the same thing.

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Bill Holdings, Bank of America revamp contract

Payments Dive

The provider of bill-pay software services was expecting to extend its services to more of the bank's clients, but now the bank is changing its plans.

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The rise of the bank chief AI officer

American Banker

Most large banks now have a C-suite officer overseeing AI. Here's why and what such a job entails.

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Philippines announces non-blockchain CBDC plans

The Paypers

Bangko Sentral ng Pilipinas (BSP) has revealed the intention to launch a wholesale central bank digital currency (CBDC) by 2026.

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State of AI in Sales & Marketing 2025

AI adoption is reshaping sales and marketing. But is it delivering real results? We surveyed 1,000+ GTM professionals to find out. The data is clear: AI users report 47% higher productivity and an average of 12 hours saved per week. But leaders say mainstream AI tools still fall short on accuracy and business impact. Download the full report today to see how AI is being used — and where go-to-market professionals think there are gaps and opportunities.

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Do fintechs for kids do enough to protect their privacy?

American Banker

Fintechs that "bank" children and teens should collect far less data about their young users, erase it sooner and be more transparent in policies that are often buried, say privacy advocates.

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OKX launches crypto exchange services in Argentina

The Paypers

Cryptocurrency exchange OKX has announced its expansion into the Argentinian market as part of its ongoing strategy to tap the Latin American market.

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An AI helper for third-party risk management

American Banker

A new generative artificial intelligence tool from Ncontracts can assist in summarizing lengthy agreements with fintech partners and identifying important clauses.

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South Dakota Regulator Requires BSA/AML Compliance for Money Lender Licensees and Non-Residential Mortgage Lenders

CFPB Monitor

The South Dakota Division of Banking issued a Memorandum notifying all licensed money lenders and non-residential mortgage lenders of their Bank Secrecy Act/Anti-Money Laundering (“BSA/AML”) obligations under a 2020 Final Rule published by the Financial Crimes Enforcement Network (“FinCEN”). The final rule became effective in 2020, and the Memorandum requires licensees to comply by March 31, 2024.

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Book of Secrets on the Month-End Close

Based off SkyStem's popular e-Book, the book of secrets to the month-end close will be revealed in this one-hour webinar. Learn leading practices when it comes to building a strong and sustainable month-end close that has room to grow and evolve. Learn about the power of precise estimates, why reconciliations are critical to closing the books, how and when to automate, and how the chart of accounts play into your close process.

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15 credit unions that have acquired banks since 2023

American Banker

In the largest deal based on the bank's assets announced since January 1, 2023, the credit union has nearly $12 billion in total assets and the target bank more than $1.5 billion in total assets.

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Fintech Funding: Overflow raises $20M in series B 

BankInovation

Investors expect funding activity to rebound in 2024 following a year of uncertain macroeconomic conditions. In 2023, global fintech equity deals amounted to $39.2 billion, compared to $78.6 billion in 2022, recording a 50% year-over-year drop, according to a Jan. 18 State of Fintech report by CB Insights, a data intelligence company.

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Credit unions' CRA exemption helped sink Navy Federal

American Banker

The nation's largest credit union allegedly engaged in racial discrimination resulting in calls for further investigations and regulations. Had Navy Federal been subject to the Community Reinvestment Act it may have avoided this problem.

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JPM builds its own omnichannel payments offering

BankInovation

J.P. Morgan Payments introduced its omnichannel checkout solution in January to offer a retail shopping experience that is native across shopping channels. “Merchants need to provide journeys that natively go across channels,” Jean-Marc Thienpont, managing director of omnichannel and biometric solutions at J.P. Morgan Payments, told Bank Automation News.

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The GTM Intelligence Era: ZoomInfo 2025 Customer Impact Report

ZoomInfo customers aren’t just selling — they’re winning. Revenue teams using our Go-To-Market Intelligence platform grew pipeline by 32%, increased deal sizes by 40%, and booked 55% more meetings. Download this report to see what 11,000+ customers say about our Go-To-Market Intelligence platform and how it impacts their bottom line. The data speaks for itself!

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Regulators push Citi to move faster on risk management fixes: Report

American Banker

The megabank recently received three notices of matters requiring immediate attention, and it also failed regulatory exams, Reuters reported. Since 2020, Citigroup's regulators have been pressuring the company to clean up its risk management systems.

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FHA/ HUD Loans

Commercial Lending USA

FHA/ HUD LoansCommercial Lending USA is proud to offer FHA/HUD loans ranging from $2 million to $100 million. With our strong relationships with larger lenders and in-depth understanding of HUD’s evolving regulations and policies, we are well-equipped to guide our clients through the complex loan process successfully. We provide diverse FHA lending solutions for refinancing, acquisition, rehabilitation, and new construction across various sectors, including nursing homes, assisted living facilit

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Will California's gun law place a target on card networks?

American Banker

Mastercard, Visa and American Express are reportedly preparing to add merchant codes to identify firearm purchases, forcing the networks to straddle a hot-button issue in an election year.

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Moneyhub to provide Open Banking to the UK government

The Paypers

Moneyhub has announced that it has been named as a supplier of CCS’s Open Banking Dynamic Purchasing System framework for the UK government.

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Demo SkyStem’s Award Winning Month-End Close Solution & Earn $100

Is your finance team bogged down by endless data requests and disorganized spreadsheets during the month-end close? It’s time to consider a better option – automate with ART! SkyStem’s solution works alongside your ERP to transform the close and account reconciliation process and speed up month-end work. Explore SkyStem’s ART - the award-winning account reconciliation automation platform - and receive a $100 Amazon gift card as a thank you for your time.

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How JPMorgan Chase defends its position as the nation's top acquirer

American Banker

With countless fintechs nipping at its heels, the bank is working harder to be a one-stop shop for e-commerce, retail store management, payments and authentication.

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Crypto wallet app COCA launches virtual cards

The Paypers

Crypto wallet app COCA has announced the rollout of its virtual cards, following the success of its early access programme.

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Bowman, Hsu to speak at ABA’s Conference for Community Bankers

ABA Community Banking

Conference attendees will also hear from the presidents and senior leadership from all 11 Federal Home Loan Banks and attend sessions on core platforms, FedNow, artificial intelligence and cybersecurity, small business lending and more. The post Bowman, Hsu to speak at ABA’s Conference for Community Bankers appeared first on ABA Banking Journal.

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Visa to expand its digital wallet features and availability

The Paypers

American corporation Visa has extended digital wallet capabilities within its suite of B2B payment solution, Visa Commercial Pay, as well as its availability.

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5 Ways You Can Win Faster with Gen AI in Sales

Incorporating generative AI (gen AI) into your sales process can speed up your wins through improved efficiency, personalized customer interactions, and better informed decision- making. Gen AI is a game changer for busy salespeople and can reduce time-consuming tasks, such as customer research, note-taking, and writing emails, and provide insightful data analysis and recommendations.