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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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.
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.
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
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
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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
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.
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.
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
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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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.
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.
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.
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.
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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.
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
Thailand-based Velo has announced its collaboration with PTL Holdings (PTLH), intending to merge its digital finance abilities with the latter’s industrial capacity.
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.
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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.
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.
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
Alberto Musalem, a finance professor with experience in both the public and private sectors, will take over the reins at the regional reserve bank in April.
The Paypers
JANUARY 4, 2024
A new report by Economist Impact for Temenos has shown that 24% of European consumers are likely to switch providers if their bank is not engaged in ESG issues.
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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.
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