Fri.Mar 15, 2024

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CFPB warns of ‘dangers’ on standards for open banking

Payments Dive

“We know dangers exist when more powerful players weaponize industry standards,” Consumer Financial Protection Bureau Director Rohit Chopra said in advance of finalizing an open banking rule later this year.

Industry 404
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CFPB and plaintiffs fully brief motion for preliminary injunction in trade group lawsuit regarding final credit card late fee rule

CFPB Monitor

The Consumer Financial Protection Bureau (“CFPB”) filed an opposition brief (the “Opposition”) on Tuesday in response to a request by plaintiff trade groups to enjoin the CFPB’s final credit card late fee rule (the “Final Rule”) during the pendency of a lawsuit seeking to invalidate the Final Rule. In the Opposition, the CFPB argues that plaintiffs are unlikely to succeed on the merits, and that the Final Rule is consistent with the CARD Act’s mandate that late fees be “reasonable and proportion

Groups 78
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Fintech founder backs Google, Apple

Payments Dive

“It’s easy for giant app companies to pick fights with Apple and Google, but when billionaire companies fight about who gets richer, it’s usually the little guy that loses,” writes CashEx’s CEO.

Google 243
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Unravelling the Psychology of Money: Understanding Our Spending, Saving, and Investing Behaviours

BankBazaar

Ever wondered why you splurge on things you don’t need or why your impulse buys or saving strategies are shap ed the way they are? Dive into the world of psychology of money with us to find out more! In the labyrinth of personal finance, our decisions are often guided not just by numbers and logic, but by other factors, like tradition, information available to us and the avenues of risk we are willing to take.

US 78
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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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Fiserv searches for ‘tuck-in type’ deals

Payments Dive

Despite a focus on smaller acquisition options, the processor doesn’t feel confined to a particular price range, CFO Bob Hau suggested Thursday.

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More Trending

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Protecting an ATM's hardware, software by slowing down criminals

ATM Marketplace

How can operators delay or frustrate ATM attacks long enough to be effective?

ATM 110
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Why bank consolidation is down but not out

American Banker

Bank mergers and acquisitions have slowed in recent years amid recession fears and other economic uncertainties. But bank consolidation is a century-old trend that's expected to rev up again as early as this year due to higher costs, tougher regulation and fierce competition.

Trends 89
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Fintechs look to megabanks a year after SVB collapse

BankInovation

Fintechs are looking to legacy banks with strong portfolios to provide seamless onboarding and digital capabilities following the regional banking crisis last year.

Fintech 77
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Wilmington Trust's Doris Meister on a career in wealth management: The Climb

American Banker

Meister, chair and CEO of the M&T division, considers herself a "builder-fixer" and has sought out new challenges and opportunities throughout her more than 30 year-career.

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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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Grasshopper CEO previews faster check clearance

BankInovation

Digital Grasshopper Bank will roll out an improved check-clearing process this year to streamline the time between depositing a check and gaining access to the funds.

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CellPoint Digital partners with La Compagnie

The Paypers

CellPoint Digital has partnered with La Compagnie , a France-based airline, to help the later optimise its payment processes, lower transaction costs, and provide flexible payment options.

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APWHY? Public APIs, Automation, and The Strategy Banks Are Missing

BankInovation

We Were Promised Flying Cars In 2014, Gartner predicted over 75% of the Fortune 1000 would have public APIs by 2017. This number is way higher in 2024!

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Podcast: An NFL-player-turned-banker helping today’s student athletes

ABA Community Banking

Athletes make a lot of big financial decisions at fairly young ages. Brandon Ghee, a community banker and former NFL cornerback, discusses how Cogent Bank's sports and entertainment vertical comes alongside to help with this transition. The post Podcast: An NFL-player-turned-banker helping today’s student athletes appeared first on ABA Banking Journal.

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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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Digital Mobility with Mobile Driver’s Licenses

Tomorrow's Transactions

Most people reading this will already know what an mDL is (a Mobile Driver’s License of course). That’s because it isn’t a new idea; it has been in development for roughly eight years now. What is new this year however is the development of the existing mDL standard to include remote presentation, an add-on functionality… Continue reading Digital Mobility with Mobile Driver’s Licenses The post Digital Mobility with Mobile Driver’s Licenses first appeared on Consult Hyperion.

Mobile 44
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CDFI Fund received $1.55B in funding requests in 2024

ABA Community Banking

A total of 948 organizations from across the U.S. requested a combined level of approximately $1.55 billion in awards from the CDFI Fund in fiscal year 2024, which is more than three times the amount of available. The post CDFI Fund received $1.55B in funding requests in 2024 appeared first on ABA Banking Journal.

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Bill to ban TikTok could have mixed results for banks

American Banker

Proposed legislation to force Bytedance to sell its U.S. operations of TikTok raises national security concerns and potential retaliation from Beijing.

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GoCardless to acquire Nuapay

The Paypers

UK-based bank payment company GoCardless has announced its agreement to acquire Nuapay , with the transaction being subject to regulatory approvals.

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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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CFPB's latest overreach threatens to nationalize consumer finance

American Banker

The Consumer Financial Protection Bureau is preparing to pick winners and losers in the consumer lending market, stifling innovation and curtailing freedom of choice.

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Vipps MobilePay launches new version of the app

The Paypers

Norway-based Vipps MobilePay has announced the launch of a new version of the MobilePay app to its Danish users, aiming to provide cross-border payments in the Nordics.

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Goldman closes GreenSky sale, and Synovus sees an edge

American Banker

Goldman Sachs is unloading the home improvement lending platform GreenSky after a misadventure in consumer finance. However, the consortium buying GreenSky plans to invest heavily in its growth, and Synovus says it's eager to deepen its partnership with the online lender.

Lending 41
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FDX announces increase in accounts using FDX API

The Paypers

North America-based Financial Data Exchange (FDX) has announced that 76 million consumer accounts are currently leveraging its FDX API for Open Finance data sharing.

America 41
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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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Are wearable payments coming back in style?

American Banker

Samsung and Curve are setting the groundwork for a return of smart rings and other devices that can turn top-of-wallet cards into a fashion accessory.

Samsung 45
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Worldline Italia to partner with Cassa Centrale Group

The Paypers

Payment service provider Worldline Italia has announced that Cassa Centrale Group is pursuing negotiations for a long-term collaboration in the acquiring landscape.

Groups 41
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PNC promotes Michael Thomas; Huntington hires JPMorgan's Sarah Pohmer

American Banker

PNC announces a new head of corporate and institutional banking; Huntington hires JPMorgan exec to lead HR; former HSBC banker returns as the firm's new U.S. CEO; and more in the weekly banking news roundup.

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Nordic Capital to invest in One Inc

The Paypers

Sweden-based private equity firm Nordic Capital has announced its plans to join Great Hill Partners and become an investor in the digital payment platform One Inc.

Capital 41
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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.