Payments Dive
JANUARY 4, 2024
Fintech trade groups asked the Consumer Financial Protection Bureau to extend the comment period on a proposal formalizing its oversight of big tech companies’ digital wallets.
Perficient
JANUARY 4, 2024
As we step into 2024, the transformative impact of Artificial Intelligence (AI) and generative AI on enterprise-level organizations has reshaped the business landscape in profound ways. The continual evolution of these technologies has empowered businesses to leverage advanced algorithms, predictive modeling, and generative capabilities, driving unprecedented innovation and efficiency.
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Payments Dive
JANUARY 4, 2024
BNPL usage hit an all-time high during the season, with Cyber Monday as the largest day on record for the payment method, according to Adobe.
CFPB Monitor
JANUARY 4, 2024
Revenue Based Finance Coalition (RBFC), a trade group whose members include non-banks that provide sales-based financing to businesses, filed a lawsuit last week against the CFPB in a Florida federal district court challenging the CFPB’s final small business lending rule implementing Section 1071 of Dodd-Frank. The core argument made by RBFC is that because sales-based financing does not constitute “credit” within the meaning of the Equal Credit Opportunity Act (ECOA) and Regulation B, the CFPB
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It's the time of year to give our close process some TLC. Join us in this one hour webinar where we discuss how to adopt leading practices and infuse technology into the month-end close process to improve our experience and increase our productivity during month-end and quarter-end close. Learning Objectives: This course's objective is to understand how the month-end close can be improved with automation and adoption of leading practices.
Payments Dive
JANUARY 4, 2024
The federal agency plans to weigh in on EWA services, it said in commenting on a California proposal to register and oversee the providers of such services.
Community Banking Brief brings together the best content for Community Banking professionals from the widest variety of industry thought leaders.
BankBazaar
JANUARY 4, 2024
Introducing the formidable Financial Avengers, the stalwart defenders of your wallet against the insidious threats of the financial realm! Led by the astute Captain Cautious, this elite team includes Iron Accountant, the meticulous number-cruncher; Hawkeye Hustle, with an eagle eye for detecting fraudulent schemes; Black Widow Watchdog, ever vigilant against identity theft; Thor Tallyhammer, wielding the power of budgetary control; and Hulk Haggler, the relentless negotiator.
CFPB Monitor
JANUARY 4, 2024
The CFPB recently announced that the platform for the submission of Home Mortgage Disclosure Act (HMDA) data collected in 2023 is now available for the submission of the data. The platform may be accessed here. HMDA data for 2023 must be submitted on or before March 1, 2024. A beta testing version of the platform also is available and may be accessed here.
The Paypers
JANUARY 4, 2024
US-based Kindcard has announced that it signed a letter of intent with paytech banking platform Acepay , with a potential acquisition of OpenTransact.
CFPB Monitor
JANUARY 4, 2024
In December 2023, the Federal Trade Commission announced its Combatting Auto Retail Scams Rule , otherwise known as the “CARS Rule,” which sets new requirements on the sale, financing, and leasing of new and used vehicles by motor vehicle dealers. The final rule prohibits certain misrepresentations in the financing process, sets disclosure requirements on dealers’ advertising and sales communications, mandates that dealers obtain consumers’ express, informed consent for charges, and prohibits t
Advertiser: ZoomInfo
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.
American Banker
JANUARY 4, 2024
One of the smallest banks in the country hasn't consistently made a profit since 2007 and has been the subject of enforcement actions. The FDIC's public rebuke against it indicates a last-ditch effort to figure out a less messy solution than receivership.
CFPB Monitor
JANUARY 4, 2024
The CFPB recently filed two amicus briefs, one in a First Circuit case involving the Fair Debt Collection Practices Act (FDCPA) and the other, which was filed jointly with the Federal Trade Commission, in a Fourth Circuit case involving the Fair Credit Reporting Act (FCRA). FDCPA. The FDCPA case is Carrasquillo v.
BankInovation
JANUARY 4, 2024
Santander Bank is exploring AI to enhance its operational efficiency, allowing its employees to focus on value-added tasks. The Madrid-based bank is implementing AI in its operations and exploring multiple use cases of gen AI, a spokesperson told Bank Automation News. The $1.
CFPB Monitor
JANUARY 4, 2024
Our special guest is Andrea Boyack, Professor, University of Missouri School of Law. We first discuss the principles that underlie our current system of consumer contracts and the system’s role in promoting transactional efficiency and other objectives. Prof. Boyack then provides her views on why the application of traditional contract law to the modern consumer contract context is not in the best interests of consumers and offers a different approach to consumer contracts in which a consumers
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Automation is changing the game for commercial lenders, offering a clear path to competitive advantage in 2025. Rising costs, outdated workflows, and manual data entry slow growth and impact borrower satisfaction. Automation addresses these challenges, reducing costs, speeding up loan cycles, improving accuracy, and elevating borrower experiences. With market uncertainty easing, now is the time to act—waiting until loan volumes rebound leaves lenders unprepared and struggling to compete.
BankInovation
JANUARY 4, 2024
Eight in 10 credit union execs are looking to AI to enhance their underwriting capabilities. According to credit underwriting software provider Zest AI Chief Executive Mike de Vere, deploying AI can make for: Faster and more accurate decisioning; Increased community reach; and Smarter lending decisions.
American Banker
JANUARY 4, 2024
Users of large language models and generative artificial intelligence need to be aware of the content and data those models are trained on, and be wary of potential infringement of copyright law.
The Paypers
JANUARY 4, 2024
HSBC has announced its plan to launch Zing, an international payments application, with its official debut being held initially for customers in the UK.
American Banker
JANUARY 4, 2024
In comment letters to the Consumer Financial Protection Bureau concerning its proposed rule to allow consumers to share their banking data with third-party providers, banks worry about implementation costs while fintechs fear the rule will stymie innovation.
Advertiser: ZoomInfo
In today’s ultra-competitive markets, it’s no longer enough to wait for buyers to show obvious signs of interest. Instead, sales teams must be proactive, identifying and acting on nuanced buyer behaviors — often before prospects are fully ready to make a purchase. In this eBook from ZoomInfo & Sell Better, learn 10 actionable ways to use these buyer signals to transform your sales strategy and close deals faster.
The Paypers
JANUARY 4, 2024
The European Central Bank (ECB) has announced that it intends to conduct a stress test on the cyber resilience of 109 supervised banks in 2024.
American Banker
JANUARY 4, 2024
Federal Reserve officials point to overnight reverse repurchase agreement activity as an indication of excess liquidity, which the central bank is working to reduce. But some analysts say that excess liquidity may be drying up faster than expected, with important implications for banks.
The Paypers
JANUARY 4, 2024
The European Central Bank (ECB) has announced the publishing of its report on the rulebook draft for digital euro payments.
American Banker
JANUARY 4, 2024
Banks have a simple choice: Either invest in fraud controls to prepare for FedNow, or expect draconian supervisory measures that will increase friction and confuse customers.
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Remote Deposit Capture (RDC) clients are more likely to use additional treasury services and maintain larger deposits. However, poor customer experiences—particularly if they delay deposits—can compel RDC clients to take their business elsewhere. This eBook makes the case for outsourcing RDC operations to a proven managed services partner. This approach helps Treasury Departments with limited resources provide excellent client experiences that result in higher retention and productivity rates.
The Paypers
JANUARY 4, 2024
Fidelity has set its Bitcoin ETF fee at 0.39 percent, ahead of expected SEC approvals, in order to gain an early advantage and attract investors.
American Banker
JANUARY 4, 2024
The governor's proposed license for buy now/pay later lending adds momentum to the efforts to rein in the fast-growing and unregulated product.
The Paypers
JANUARY 4, 2024
Cloud-native security solutions provider Aqua Security has announced that it raised USD 60 million in a funding round led by Evolution Equity Partners.
The Financial Brand
JANUARY 4, 2024
This article Banks: Be Prepared to Explain ‘Explainability’ of AI appeared first on The Financial Brand. The use of AI in lending approvals is raising new concerns about transparency. How can banks be prepared to explain and defend automated decisions? This article Banks: Be Prepared to Explain ‘Explainability’ of AI appeared first on The Financial Brand.
Advertiser: ZoomInfo
As prospects define their problem, search for solutions, and even change jobs, they are generating high-value signals that the best go-to-market teams can leverage to close more deals. This is where signal-based selling comes into play. ZoomInfo CEO Henry Schuck recently broke down specific ways to put four key buying signals into action with the experts from 30 Minutes to President’s Club.
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