Wed.Dec 20, 2023

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Five steps to banking cyber resilience

Accenture

With 2023 in the rearview mirror, we can look back on the year with 20/20 clarity. This year saw banks confronting multiple risks, some foreseeable and others less so. If the year has taught us anything, it’s that banks can do more to guard against the risk they can predict, and risk they may not… The post Five steps to banking cyber resilience appeared first on Accenture Banking Blog.

US 195
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Don’t know what a digital wallet is? We’ve got you covered.

Payments Dive

This primer fills in the gaps on how digital wallets work, what companies compete to provide such payment tools and what to expect from them in the future.

Tools 464
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CO and NY enact laws to prevent reporting of medical debt to credit bureaus

CFPB Monitor

Colorado and New York are not waiting for the Fair Credit Reporting Act rulemaking to eliminate creditor use of medical debt announced by the CFPB in September 2023. As we previously blogged , in the past two years, Equifax, Experian, and TransUnion have made significant changes with respect to medical debt collections by removing unpaid medical collections under $500 from consumer credit reports, removing paid medical collections from credit reports, and extending the time period before unpaid

Colorado 148
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U.S. Bank fined $36M over freezes of COVID-era unemployment benefits

Payments Dive

The Minneapolis-based lender flagged a CFPB probe into prepaid card use last year. The OCC added a separate penalty Tuesday.

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Fall In Love With the Month-End Close

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.

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FTC issues final CARS Rule setting new requirements on vehicle sales

CFPB Monitor

On December 12, 2024, the Federal Trade Commission (“FTC”) announced its Combating Auto Retail Scams Rule , otherwise known as the “CARS Rule,” setting new requirements on the sale, financing, and leasing of vehicles by motor vehicle dealers. The final rule, which is effective on July 30, 2024, prohibits certain misrepresentations in the financing process, sets disclosure requirements on dealers’ advertising and sales communications, mandates that dealers obtain consumers’ express, informed cons

Retail 146

More Trending

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Is UK monetary policy driving private housing rents?

BankUnderground

Daniel Albuquerque and Jamie Lenney Rent prices have risen by 9% on average in England since the Bank of England’s Monetary Policy Committee (MPC) started raising interest rates in December 2021. Alongside this rise in prices has been a widening in the gap between reported supply and demand in the rental sector, with tenant demand continuing to rise in 2023 amidst falling supply ( RICS survey ).

Policies 130
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Atlanta Fed delivers payments inclusion report

Payments Dive

PayPal, Block and Global Payments representatives contributed to the Atlanta Federal Reserve Bank’s research on how to draw more people into the digital payments sphere.

Atlanta 284
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Banking that feels like family

ABA Community Banking

Community Bankers Council Chair Jeremy Callais views relationships as the sector’s greatest strength. The post Banking that feels like family appeared first on ABA Banking Journal.

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‘We’re not backing down’: Wells Fargo workers push to grow union campaign

TheGuardian

Four branches of the bank in New Mexico, Alaska, California and Florida have filed for union elections since November Workers at Wells Fargo, the fourth largest bank in the US, have ramped up their union organizing campaign in recent weeks in a move that marks the largest union drive at a US bank in decades. Four Wells Fargo branches have filed for union elections since November in Albuquerque, New Mexico, Bethel, Alaska, Atwater, California, and Daytona Beach, Florida.

Alaska 111
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5 Ways You Can Win Faster with Gen AI in Sales

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.

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States must protect consumers from high-cost fintech cash advances

American Banker

States need to think twice about allowing earned wage advance programs. They look increasingly like predatory lending.

Fintech 88
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New York enacts new requirements for subscription auto-renewals and credit card surcharge pricing

CFPB Monitor

On December 13, 2023, New York Governor Hochul signed two laws, which aim to protect consumers from (1) unwanted subscriptions by requiring notice to consumers for upcoming automatic renewals with clear instructions for canceling, and (2) confusion over prices by requiring merchants to post the highest price a consumer may pay for a product regardless of payment method.

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A Kansas credit union gives staff money for financial emergencies

American Banker

Meritrust Credit Union in Wichita is giving $400 to each of its 370 employees to start or grow a rainy day fund.

Wichita 87
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CFPB Releases Study of Refinance Mortgage Loans Between 2013 and 2023

CFPB Monitor

The CFPB recently released results of a study of residential mortgage refinance loans from the first quarter of 2013 to the first quarter of 2023, focusing on differences between cash-out and non-cash-out (or rate and term) refinance loans. The CFPB used data from the National Mortgage Database to conduct the study.

Study 78
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The Role of Automation in Commercial Lending

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.

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Revolut halts crypto purchases; Santander warns about scams

American Banker

Here's what's happening around the world

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BECU rolls out same-day payments for dealers

BankInovation

BECU has rolled out same-day payments for its dealer partners as the credit union looks to increase funding speed as dealer cash flow remains squeezed amid elevated interest rates. The Tukwila, Wash.

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Quadient partners with Xero

The Paypers

Quadient has announced its partnership with Xero in order to fully automate and streamline accounting processes for SME clients in North America and the UK.

America 74
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More than 200 FIs join RTP network in 2023

BankInovation

Financial institutions are looking to The Clearing House’s real-time payments network to grow deposits and offer instant gratification in their payments offerings. “It’s definitely been an interesting and accelerating year for the growth of the real-time payments (RTP) network,” Elena Whisler, chief client officer at The Clearing House, told Bank Automation News.

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10 Ways to Leverage Buyer Signals and Drive Revenue

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.

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CFPB 1071 small-business loan rule to force tech upgrades

American Banker

Many banks, especially smaller ones, will have to rethink how they lend to small businesses and automate manual processes.

Lending 74
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European Transactions: Santander Bank moves CIB operations to Google Cloud

BankInovation

Santander Bank has successfully moved its corporate investment banking business to the cloud as part of its effort to migrate all of its operations. The $1.

Google 74
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Hakbah secures USD 5.1 million in Series A funding

The Paypers

Saudi-based fintech savings platform Hakbah has announced its USD 5.1 million Series A funding to accelerate growth and product development.

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One Wells Fargo branch has voted to unionize. Here's what's next.

American Banker

The vote by workers in a New Mexico branch is the first union victory at a megabank in decades, though unionization efforts at another Wells branch took a step back.

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Outsource With Confidence for RDC Program Success

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.

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Visa partners with TECH5

The Paypers

Visa and digital identity company TECH5 have formed a strategic partnership agreement focusing on developing digital government systems globally.

System 74
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Recap from Singapore FinTech Festival

Cisco

This was my first time attending the Singapore FinTech Festival and I thoroughly enjoyed my time at the conference, chatting with colleagues, listening to sessions, and visiting booths.

Fintech 62
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Spera Security to join forces with Okta

The Paypers

Okta has announced an agreement to acquire Spera Security to broaden its identity threat detection and security posture management capabilities.

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Feds' suit depicts predatory mortgage lending in the social media age

American Banker

The Justice Department and the Consumer Financial Protection Bureau are suing a real estate developer over an alleged bait-and-switch land-sale scheme near Houston. The developer used TikTok and other social media sites to lure Hispanic immigrants into predatory loans, the government alleges.

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Signal-Based Selling: How to Leverage 4 Key Buying Signals

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.