Payments Dive

SEPTEMBER 13, 2023

Fed officials are on a campaign to increase adoption of the new instant payments system, noting it may have implications for other Fed services.

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System Payments 418

South State Correspondent

SEPTEMBER 13, 2023

Most banks have still not committed to RTP® or FedNow SM for their commercial customers – a bank’s most significant single profit driver. Most banks ignore instant payments or are still worried about fraud and research. The irony is that of the estimated $25 trillion in B2B payments in the U.S., 33% are still made via check that contains more than $8B of fraud per year.

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Payments Fraud Data Taxes 221

Payments Dive

SEPTEMBER 13, 2023

Fraudsters developed sophisticated techniques to evade safeguards and steal payment credentials, the card network said in its biannual report.

Retail 243

Retail Fraud Cards Report 243

CFPB Monitor

SEPTEMBER 13, 2023

Last week, three farm credit trade associations filed the latest in a series of unopposed emergency motions for leave to intervene in the Texas case challenging the Consumer Financial Protection Bureau’s (“CFPB”) final small business lending rule implementing Section 1071 of the Dodd-Frank Act (Rule). The intervenors – the Farm Credit Council, Texas Farm Credit, and Capital Farm Credit (collectively, “Farm Credit Intervenors”) – argue that the Rule imposes substantial burdens on agricultural len

Texas 147

Texas Lending Capital 147

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Groups

Payments Dive

SEPTEMBER 13, 2023

Discover executives met with regulators on the issue Monday, and the company expects further discussion, CFO John Greene said.

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Regulation Company 243

TheGuardian

SEPTEMBER 13, 2023

Thinktank says replacements for European Investment Bank have backed ‘fewer, smaller and lower-risk projects’ New public sector lenders created by the government since Brexit are investing two-thirds less than the UK was receiving from the EU’s European Investment Bank, a new report finds. Over more than four decades, the EIB backed UK projects ranging from the Channel tunnel and the Manchester Metrolink to offshore windfarms and upgrading the National Grid.

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National Report Policies 111

ATM Marketplace

SEPTEMBER 13, 2023

Bank of America, Citizens Bank and America's Credit Union all earned awards at the annual BCX Awards.

Customer Experience 106

Customer Experience Innovation America 106

TheGuardian

SEPTEMBER 13, 2023

Number of payments using coins and notes rose 7% last year amid cost of living crisis, after a decade of decline Cash has mounted a comeback in the UK, with payments made using notes and coins increasing for the first time in a decade, data shows. Cash use has been in long-term decline, but the banking body UK Finance said the cost of living crisis had prompted many people to turn back to “tangible” physical money to help them manage their budgets.

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Management Payments Data 111

American Banker

SEPTEMBER 13, 2023

Any comprehensive overhaul of the Federal Home Loan Bank System will have to navigate a dense thicket of countervailing regulatory and stakeholder priorities.

System 87

System Policies Compliance Regulation 87

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Analysis

The Paypers

SEPTEMBER 13, 2023

UK-based iProov has partnered with Estonia-based Cybernetica to provide digital signing and authentication solutions to government and financial services organisations.

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82

American Banker

SEPTEMBER 13, 2023

The bank aims to use new tech to make account-to-account transfers for merchants an easier option than credit cards.

Payments 87

Payments Cards 87

CFPB Monitor

SEPTEMBER 13, 2023

The Consumer Bankers Association (“CBA”) recently published a letter it sent to the CFPB describing the information that banks typically use for identity verification and fraud prevention and addressing the impact of subjecting such information to the requirements of the Fair Credit Reporting Act (“FCRA”). The letter is a response to CFPB Director Chopra’s recent remarks detailing proposed changes to the FCRA.

Report 78

Report Fraud 78

American Banker

SEPTEMBER 13, 2023

A handful of banks concentrated in the Southeast U.S. are facing elevated charge-offs amid the liquidation of Mountain Express Oil. First Horizon Corp., which led a syndicated loan of more than $200 million to the bankrupt company, expects to take a $70 million hit.

Company 85

Company Lending 85

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Lending

BankInovation

SEPTEMBER 13, 2023

MGM Resorts International has been saying its hotels and casinos are “operational” following a cyberattack over the weekend that appeared to take down everything from payment systems to sportsbooks. Some of its patrons begged to differ.

Las Vegas 72

Las Vegas System Operations Payments 72

American Banker

SEPTEMBER 13, 2023

This week in global news, Ant gets bullish on AI, PayPal's stablecoin has a fan in the bitcoin world, and more.

Bitcoin 83

Bitcoin cryptocurrency Payments 83

BankInovation

SEPTEMBER 13, 2023

NatWest has selected fintech Icon Payments Framework to modernize its payments capabilities. Icon Payments Framework (IPF) is a low-code, cloud-native platform that allows financial institutions to enhance their payments technology, according to the fintech’s website.

Payments 69

Payments Community Fintech Technology 69

American Banker

SEPTEMBER 13, 2023

Frontline staffers are asking for better pay, internal talent development programs and more flexible work environments.

Seattle 83

Seattle Management 83

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Capital

BankInovation

SEPTEMBER 13, 2023

NEW YORK — Citizens Bank will launch a virtual assistant, Digital Butler, on its commercial banking app in the next quarter, Jo Wyper, executive vice president of commercial digital operations at Citizens Bank, told Bank Automation News at Finovate Fall 2023.

New York 69

New York Mobile Operations Customer Experience 69

American Banker

SEPTEMBER 13, 2023

The FBI, NSA and CISA highlighted the emerging dangers of AI-powered deepfakes in phishing campaigns and cataloged protections companies can deploy.

Company 81

Company Fraud Technology 81

BankInovation

SEPTEMBER 13, 2023

Barclays, CitiGroup, Truist Financial and Santander announced layoffs this week as they look to cut costs and gain efficiencies. Truist is making “sizable reductions” to its workforce in the coming months to save $300 million in costs, the bank announced at the Barclays Financial Services Conference Monday.

Conference 69

Conference Retail 69

The Paypers

SEPTEMBER 13, 2023

Vanuatu has adopted VANKLIA, a new national digital payment platform to strengthen its digital economy and promote financial inclusion.

National 67

National System Payments 67

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Operations

American Banker

SEPTEMBER 13, 2023

Jeff Disterhoft, 56, has left GreenState Credit Union after 24 years as its chief executive.

Iowa 65

Iowa 65

BankBazaar

SEPTEMBER 13, 2023

We are happy to bring to you the 6 th edition of the BankBazaar Aspiration Index – our annual study that attempts to understand what are the key aspirations of people and how they change year on year. For the first time since 2020, the All-India Aspiration Index has fallen. It now stands at 85.3, down two points from 2022 (87.3). Given the prevalent economic uncertainties around the world, we expected reports of financial challenges from our respondents.

Study 60

Study Survey Course Report 60

The Paypers

SEPTEMBER 13, 2023

Coinbase has announced the expansion of its Easy Bank Transfers to the Netherlands, making Open Banking payments available to Dutch customers.

Payments 54

Payments 54

American Banker

SEPTEMBER 13, 2023

Lenders either write down portions of soured credits or charge them off altogether to remove them from their balance sheets. Banks also set aside reserves to cover potential future bad loans. This allowance creates a buffer for lenders to absorb losses.

Community Bank 48

Community Bank Industry Community Lending 48

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