Fri.Jan 26, 2024

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CFPB eyes NSF fee ban for transactions declined in real time

Payments Dive

It’s an uncommon penalty, but the federal agency asserts that as technology advances, financial institutions may be able to block more transactions at the time of a swipe, tap or click.

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Bank of America files merits brief with SCOTUS in National Bank Act preemption case; DOJ seeks leave to participate in oral argument

CFPB Monitor

Bank of America, N.A. has filed its merits brief in Cantero v. Bank of America, N.A. , the case currently before the U.S. Supreme Court dealing with the scope of national bank preemption. The petitioners must file their reply brief by February 16, 2024. (The petitioners’ merits brief is available here.) .

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Customer demand ebbs for Amex

Payments Dive

Cardholders’ spending on airline tickets in particular decelerated during the fourth quarter, American Express CFO Christophe Le Caillec said Friday.

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3 reasons to attend Bank Customer Experience Summit in 2024

ATM Marketplace

Make it your late New Year's resolution to attend the jointly held Bank Customer Experience and Interactive Customer Experience Summit from Sept. 9 to 11 in Charlotte, North Carolina.

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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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Apple opens up payments under EU pressure

Payments Dive

Apple plans to give software developers the option to use third-party payment systems, but warned that the change will expose consumers to new threats.

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Wells Fargo gives $1,000 bonus to its lower-paid employees

American Banker

Workers are eligible for the one-time cash grants if they earned a salary of less than $75,000 last year, and their total cash compensation was less than $85,000. The payments come amid a unionization push at the San Francisco-based megabank.

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Amex to prioritize growth in 2024, product innovation in 2025

BankInovation

American Express plans to invest in product innovation in 2025 to keep up with anticipated growth in 2024. “We currently have plans to refresh around 40 products globally next year,” Chief Financial Officer Christophe Caillec said today during the card giant’s fourth-quarter earnings call.

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A new era of bank runs demands a new regulatory approach (Part 2)

American Banker

After a 2023 that witnessed several significant bank failures, here's how bank regulators should be thinking about the danger of bank runs, and structuring their supervision, going forward.

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Visa teams up with Meta for P2P payments

BankInovation

Visa extended partnerships and made new connections during its fiscal first quarter as it looked to expand its reach, develop new use cases for its offerings and push its peer-to-peer payments capabilities.

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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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Smaller regionals brush off commercial real estate worries

American Banker

Cullen/Frost in Texas, BankUnited in Florida and Bank OZK in Arkansas are among the banks that have, at least for now, allayed investors' fears about their exposure to the CRE sector.

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Klarna launches Klarna Plus in the US

The Paypers

AI-powered payments network and shopping assistant Klarna has announced the launch of Klarna Plus, issued by WebBank , to eligible US customers through its app.

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American Express CEO bullish on small businesses despite slow growth

American Banker

Steve Squeri said flatness in the segment is an industry-wide trend, and the company is dedicated to the segment,

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Rapid Finance and LoanPro join forces for US small business lending

The Paypers

US-based financial service provider Rapid Finance has partnered with LoanPro to provide Lending-as-a-Service (LaaS) to small businesses across the US.

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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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Capital One says credit deterioration has 'run its course'

American Banker

The stable outlook is an indication that — at least for some lenders — the much-feared cycle of cardholders defaulting on their obligations in the wake of the COVID-19 pandemic may not turn out to be so bad.

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The Role of Commercial Mortgage Brokers in Facilitating Successful Commercial Lending

Commercial Lending USA

Commercial mortgage broker experts help you succeed financially. Tailored solutions, diverse lender networks, and market insights for businesses.

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First Citizens is retaining SVB clients, but cites 'headwinds' to growth

American Banker

Ten months after the Raleigh, North Carolina, company acquired a large chunk of Silicon Valley Bank, it says it is seeing good progress in keeping and winning back the latter's former customers. But the ongoing slowdown in private equity and venture capital activity will challenge the unit's growth.

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BitMEX launches Margin+ programme for increased trading capacity

The Paypers

Seychelles-based crypto derivatives exchange BitMEX has launched Margin+, a programme designed for advanced traders who want enhanced collateral and increased trading capacity.

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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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California benefits contract shifts to Fiserv from Bank of America

American Banker

Fiserv's Money Network will officially start managing the state's prepaid debit card program for distributing unemployment and disability benefits to 850,000 beneficiaries. BofA had been trying to exit its contract for several years due to financial risks.

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payabl. secures EMI licence from the CBC

The Paypers

Cyprus-based paytech company payabl. has announced that it secured an Electronic Money Institution (EMI) licence from the Central Bank of Cyprus (CBC).

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Visa blames the weather for slower January sales

American Banker

The card network said that recent weeks' cold snap in key cities had a chilling effect on U.S. spending, and reaffirmed its sunny outlook for the year.

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Moneyhub adds Co-op Bank, Smile Bank, and Kroo Bank Open Banking connections

The Paypers

Moneyhub , a data and payments platform, has announced it has become the first third-party provider (TPP) to connect to Co-op Bank, Smile Bank, and Kroo Bank.

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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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Virginia community banks merge, Michigan credit union acquires bank

American Banker

National Bankshares in Virginia agrees to acquire in-state peer, Advia Credit Union in Kalamazoo strikes deal with Illinois bank, EBANX's annual Beyond Borders study launches and more in the weekly banking news roundup.

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PayPal, Venmo to enhance commerce with new solutions

The Paypers

US-based financial technology company PayPal and Venmo have announced six new improvements that aim to enhance commerce for consumers and merchants.

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Stopping predatory rent-a-bank loans is good policy

American Banker

The Center for Responsible Lending calls for states to continue to police high-cost lenders rather than facilitating their growth.

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Novo announces Novo Payroll for small businesses

The Paypers

Novo has announced Novo Payroll, a payroll solution that is fully integrated into Novo’s platform of small business banking, budgeting, and working capital solutions.

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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.