Payments Dive

OCTOBER 2, 2023

California passed a law last week forcing use of a gun merchant code, but other states have done the opposite. Now, maybe Congress will act.

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California 476

TheGuardian

OCTOBER 2, 2023

As author of The Big Short and Moneyball, Michael Lewis is perhaps the most celebrated chronicler of his generation. Now he delivers an astonishing portrait of the fallen crypto billionaire. But did he get too close? Right around the time the gales of the financial crisis were tearing up Wall Street in 2009, Meredith Whitney started her own financial research firm.

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Meeting US Management Marketing 109

Payments Dive

OCTOBER 2, 2023

The agreement, issued last week, addresses “shortcomings” in Discover Bank’s compliance management system for consumer protection laws, the company said.

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FDIC Compliance System Management 259

CFPB Monitor

OCTOBER 2, 2023

Tomorrow, the U.S. Supreme Court will hear oral argument in CFPB v. CFSA , in which the question presented is whether the CFPB’s funding mechanism violates the Appropriations Clause of the U.S. Constitution. In an article requested by and published today in American Banker’s BankThink , Alan Kaplinsky, Senior Counsel (and former practice group leader) in Ballard Spahr’s Consumer Financial Services Group, argues that the Supreme Court should rule that the CFPB’s funding mechanism is unconstitutio

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Groups 88

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Most people dread the nearing of the month-end close and reconciliation process, and who can blame them? It's typically a tedious, long, stressful process; but it doesn't have to be. Implementing automation into your month-end process can significantly reduce this headache by automating up to 40% of your reconciliation and saving nearly 30% of your time spent.

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Jack Henry

OCTOBER 2, 2023

The Federal Trade Commission (FTC) received reports on over 5.2 million cases of fraud in 2022, with imposter scams accounting for 20% of the total losses incurred – a whopping $2.7 billion in losses reported for this scam alone. Imposter scams generally start with an unsolicited phone call, email, text or social media message from someone impersonating people or organizations you would ordinarily trust.

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social media cryptocurrency Fraud Cards 88

Ublocal

OCTOBER 2, 2023

At Union Bank, we think making investing accessible to everyone, regardless of your background or experience. That’s why we’re excited to launch our next generation investment management app! This easy-to-use app makes managing your investments simple, approachable and enjoyable. In fact, you can start investing with as little as 10 dollars and it only takes about 4 minutes to get set up, right from your phone, tablet, laptop or PC.

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Taxes Capital New Hampshire Marketing 98

William Mills

OCTOBER 2, 2023

Earlier this month, we had the opportunity to travel to New York City to attend FinovateFall2023. Alongside 2,000+ attendees, 1,000+ financial institutions and 70 emerging technologies coming from both startups and established firms.

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New York City New York Fintech Technology 95

CFPB Monitor

OCTOBER 2, 2023

The CFPB recently released a report entitled Data Point: 2022 Mortgage Market Activity and Trends based on 2022 data reported by lenders under the Home Mortgage Disclosure Act (HMDA). The CFPB addresses various 2022 lending results, with many results reflecting changes from 2021 to 2022 based on increases in mortgage interest rates and other economic factors.

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Trends Report Marketing Lending 78

American Banker

OCTOBER 2, 2023

The North Carolina company is cutting its board of directors by more than a third, using a combination of retirements and early departures. The move means that a majority of board members will come from the predecessor company SunTrust Banks, which may give CEO Bill Rogers more leeway to make changes.

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North Carolina Company Industry 87

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Dive into the complexities of New York lien laws with our comprehensive eBook, 'New York Lien Law Essentials: 5 Key Facts for Commercial Lenders.' In this detailed guide, we explore the critical formalities necessary for lenders navigating ground-up construction and fix-and-flip projects in the New York market. From documentation requirements to the implications of non-compliance, learn how to safeguard your lending position and prioritize legal adherence.

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BankInovation

OCTOBER 2, 2023

The Federal Reserve is looking to fintechs to drive the adoption of FedNow across financial institutions. With FedNow aiming to reach ubiquity in the United States, “we don’t really want that to take 20 years to do,” Mark Gould, chief payments executive for Federal Reserve Financial Services, said last month at Sibos 2023 in Toronto.

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Fintech United States Payments 72

American Banker

OCTOBER 2, 2023

Citing Silicon Valley Bank as an example of being ill prepared, Federal Reserve Vice Chair for Supervision Michael Barr says the central bank can only serve as lender of last resort if banks are "ready and able" to borrow.

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Regulation Examples Policies Compliance 85

BankInovation

OCTOBER 2, 2023

Jamie Dimon said artificial intelligence is already being used by thousands of employees at his bank, and is likely to make dramatic improvements in workers’ quality of life, even if it eliminates some jobs.

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Technology 69

American Banker

OCTOBER 2, 2023

Making the Consumer Financial Protection Bureau's funding subject to congressional appropriations would bring some much-needed accountability to a runaway regulator.

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Regulation Compliance 87

Speaker: Nancy Wu, Head of Sales and Customer Success at SkyStem

Join us for an enlightening webinar as we delve into the transformative realm of modern accounting practices. In today's digital age, the convergence of outsourcing and automation has revolutionized how businesses manage their financial operations. In this webinar we will explore the synergistic potential of these two strategies to streamline processes, enhance accuracy, save cost and drive strategic decision-making.

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The Paypers

OCTOBER 2, 2023

Sonovate , a UK-based provider of funding and tech services to businesses, has obtained certification from Xero to augment reporting and reconciliation capabilities.

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Security Report 74

American Banker

OCTOBER 2, 2023

The $23 million deal, signed in 2021 and initially projected to close in the second quarter of 2022, was delayed multiple times amid leadership turnover at the Los Angeles-based RBB.

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Los Angeles Leadership Community Bank Industry 83

ABA Community Banking

OCTOBER 2, 2023

Educating consumers about financial literacy is rarely a one-time action. It requires regular and continuous engagement. The post Six ways to combat financial illiteracy appeared first on ABA Banking Journal.

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social media Community Bank Community Marketing 59

American Banker

OCTOBER 2, 2023

With multiple economic factors driving up the costs of owning a vehicle, the $1.9 billion-asset institution in New Hampshire is partnering with Credit Union Leasing of America to make car ownership more affordable for members.

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New Hampshire America Lending 81

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Now is the time for lenders to prioritize their digital transformation initiatives in preparation for the lending rebound. Rising competition and ever-increasing customer demands for speed and efficiency are forcing financial institutions to embrace digital transformation. This shift can feel overwhelming—where do you begin? This infographic illustrates automation demands and shows you how loan document automation serves as an essential step to increase profits and provide the best lending exper

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The Paypers

OCTOBER 2, 2023

Digital currency platform Coinbase has obtained a Major Payment Institution (MPI) licence from the Monetary Authority of Singapore (MAS).

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Payments 73

American Banker

OCTOBER 2, 2023

The Federal Reserve Office of Inspector General said supervisors failed to promptly address the risks associated with Silvergate Bank's rapid growth in uninsured cryptocurrency deposits, ultimately leading to the bank's voluntary self-liquidation in March 2023.

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cryptocurrency Policies Compliance Regulation 77

The Paypers

OCTOBER 2, 2023

The central banks of Jordan and Iraq have signed a cooperation agreement to strengthen the banking and financial relations between the two countries.

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American Banker

OCTOBER 2, 2023

The Royal Bank of Canada has made a series of transactions that should boost the profitability of its struggling U.S. subsidiary. Debt securities that had been owned by City National have lost value as a result of rising long-term bond yields.

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National Security 72

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In this report, you’ll find a comprehensive analysis of survey responses from executives at banks, credit unions, and insurance companies concerning their organization’s current and future use of automation. The report’s key insights include: Which types of automation are saving organizations the most time and money How to overcome the biggest barriers to automation implementation and adoption Why automation investments will continue to grow over the next few years How much you could save in 202

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The Paypers

OCTOBER 2, 2023

Brazil has launched its new national identity program powered by blockchain technology, with Rio de Janeiro, Goiás, and Paraná being the first states to issue this.

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blockchain National Technology 53

American Banker

OCTOBER 2, 2023

The financial institution released details of an FDIC consent order, weeks after the unexpected departure of longtime CEO Roger Hochschild. The bank must submit several action plans to address consumer protections within three months.

FDIC 41

FDIC Compliance Regulation Payments 41

The Paypers

OCTOBER 2, 2023

Revolut has attracted scrutiny from the UK’s Financial Conduct Authority over red-flag accounts that were restricted by the National Crime Agency.

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National 50

American Banker

OCTOBER 2, 2023

Anthony Viggiano and three classmates once won a competition about which team could best tackle dilemmas they'd face as financial professionals. He's now accused by federal prosecutors of being at the center of an insider trading scheme.

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Industry 41

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Commercial lending is on the verge of a resurgence, but traditional processes are an obstacle. Explore the top 3 reasons for resistance to digital transformation and how overcoming them can pave the way for growth and efficiency. Discover why embracing automation and digital solutions is crucial for success in today's competitive landscape. Discover how GoDocs helps commercial lenders in the digital era with seamless integration and a borrower-focused approach.

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