Opponents of Capital One-Discover merger to air grievances
Payments Dive
JULY 18, 2024
Consumer advocates say the merger will stifle competition and give the combined company an easy avenue to raise fees on card payments.
Payments Dive
JULY 18, 2024
Consumer advocates say the merger will stifle competition and give the combined company an easy avenue to raise fees on card payments.
Perficient
JULY 18, 2024
Wealth management is evolving rapidly, driven by generational shifts, changing advisor roles, new business models, regulatory demands, and a growing preference for low-cost passive products. In response to these changes, our fintech client partnered with one of the world’s largest financial institutions to develop a next-generation, open-source, front-to-back wealth management platform.
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South State Correspondent
JULY 18, 2024
Sometime soon, one of the banks reading this will likely be the last bank to handle paper checks. Last week’s announcement that Target, one of the nation’s largest retailers, will not take personal checks past July 15 th has made bankers take notice. Target joins Whole Foods, Aldi, and Lululemon as major retailers that have found that checks eat up too much margin.
Payments Dive
JULY 18, 2024
The federal agency weighed in Thursday with a proposed rule to oversee the burgeoning earned wage access industry.
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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.
BankInovation
JULY 18, 2024
The Consumer Financial Protection Bureau proposed an interpretive rule affecting earned wage products, or paycheck advance products, ensuring that employees are aware of costs and fees for these services, according to today’s CFPB release. Paycheck advance products allow employees real-time access to earned wages.
Community Banking Brief brings together the best content for Community Banking professionals from the widest variety of industry thought leaders.
BankInovation
JULY 18, 2024
The Bank of England warned that its CHAPS service — one of the largest high-value payment systems in the world — has been affected by a global payments issue, causing some large, time-sensitive payments to be delayed.
TheGuardian
JULY 18, 2024
Revamp of 42-storey block when bank moves out in 2027 will include new terraces and leisure facilities Business live – latest updates Canary Wharf Group has unveiled plans to remove large chunks from the HSBC tower as part of a revamp of the 42-storey office block when the bank moves out in 2027. The property company said it would carve out sections of the tower’s facade to create terraces as part of plans to transform the office block – a skyscraper in the east London financial district – into
BankInovation
JULY 18, 2024
KeyBank spends $800 million annually on technology and expects expenses to grow in 2025 as it continues to invest in overall operations.
American Banker
JULY 18, 2024
The bank plans to turn away transactions for apps like Afterpay, Affirm, Klarna and others. Its move comes as these third parties face increasing scrutiny from regulators and industrywide concerns over risk.
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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.
BankInovation
JULY 18, 2024
Citizens Bank is deploying generative AI and migrating operations to the cloud as part of its cost-saving and efficiency measures. The bank reported that 70% of its applications will be on the cloud by the end of 2024 and it aims to deploy generative AI to increase efficiencies at its call centers.
American Banker
JULY 18, 2024
FactSet, Brightwave and Bloomberg are among those offering generative AI models that do research legwork. But Wall Street firms have lately been taking a harder look at the cost and return of generative AI.
The Paypers
JULY 18, 2024
The UAE Ajman Transport Authority has partnered with payment solutions provider BPC to digitalise public transport payments through O-CITY.
American Banker
JULY 18, 2024
Mixed earnings results at Wells Fargo and the ongoing merger proposal between Discover Financial Services and Capital One Financial are creating added pressure for investors.
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Time and time again we tell ourselves and others NOT take action on something that is not "broken." We apply that mindset at home and at work. Sometimes, it doesn’t work out so well. Because when it's truly broken, it's usually an emergency, costs more and causes stress. Join us in this webinar where we share ways where you are able to anticipate your needs, understand benefits that you will get from getting better now instead of later, and relieving your team of tasks that they don't need to be
TheGuardian
JULY 18, 2024
The FCA says financial firms should not disadvantage people running for office and their families The UK’s biggest banks have been told by the City watchdog to do more to ensure parliamentarians, senior public servants and their families are treated fairly in the wake of the Nigel Farage debanking row. In a warning to financial firms – including banks, payment firms and lenders – the Financial Conduct Authority (FCA) said they should not disadvantage people running for office or taking senior pu
American Banker
JULY 18, 2024
The Dallas-based company, whose earnings per share fell short of consensus by 6 cents, lowered its revenue forecast and raised its expense outlook. Its stock price fell more than 8% on Thursday.
Bussman Advisory
JULY 18, 2024
This week’s must-know stories in the FinTech, AI and Digital Asset space. The latest edition of the FinTech Ecosystem Newsletter is here: The post Banks and payments hit as faulty CrowdStrike update | OpenAI debuts mini version of its most powerful model yet | Stripe valuation hits $70bn appeared first on Bussmann Advisory AG.
American Banker
JULY 18, 2024
The Georgia-based bank recorded a $257 million hit after unloading a bundle of securities that it expects to redeploy into higher-yielding assets. It also forecast a resumption of loan growth in the second half of the year.
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Have you ever felt the pain and loss of a client suddenly going silent, leaving you questioning everything? Ghosting can cause heartbreak; in business, it drains resources, and emotionally, it shatters your confidence. A modern credit card program can give you the tools to deliver the digital-first experiences your customer’s demand. Our eBook, “5 Signs Your Credit Card Offering Needs an Upgrade,” will help you identify key indicators that your current card platform may be holding you back and w
ABA Community Banking
JULY 18, 2024
At the midpoint of the year, what's the M&A outlook like for community banks? The post Podcast: M&A outlook with Paul Davis appeared first on ABA Banking Journal.
American Banker
JULY 18, 2024
The $22 billion-dollar earned wage access industry is vigorously opposing the Consumer Financial Protection Bureau's plan to classify paycheck advances as consumer loans requiring disclosures of fees and costs, and says it will fight the rule in court.
The Paypers
JULY 18, 2024
Global financial technology company FIS has integrated Lendio ’s technology to introduce its new SMB Digital Lending solution and support small businesses in accessing funding.
American Banker
JULY 18, 2024
Reps. Patrick McHenry, R-N.C., and Maxine Waters, D-Calif., who run the House Financial Services Committee, today released their report on artificial intelligence in the financial industry.
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By ditching paper and manual checklists, UNIFY embraced ART’s cloud-based solution for seamless automation. The robust dashboards, exception reports, and completion date reports allowed the team to easily track progress and resolve bottlenecks. ART’s flexible access for auditors ensured tight deadlines were met effortlessly. With competitive pricing and a rapid setup, ART cut costs and minimized disruptions, enabling UNIFY’s team to concentrate on high-impact tasks.
The Paypers
JULY 18, 2024
US-based Capital One has announced the launch of a community benefits plan that is set to deliver over USD 265 billion in lending, investment, and philanthropy over five years.
American Banker
JULY 18, 2024
Financial services supervisors should revisit the concept of regulatory sandboxes. Doing so would allow fintechs to gain needed experience in the world of banking, while fostering innovation.
The Paypers
JULY 18, 2024
UK-based D•One has announced that NewDay , an unsecured consumer credit provider, went live with its Open Banking connectivity and transaction categorisation solutions.
American Banker
JULY 18, 2024
Payroll advances would be considered consumer loans under an interpretive rule by the Consumer Financial Protection Bureau that would require disclosures of annual percentage rates and fees under the Truth in Lending Act.
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Community banks seek ways to leverage their technology infrastructure to drive productivity and growth. However, the sheer volume of technology devices, capital constraints, and lack of skilled resources stand in the way. This Strategy Brief explores how a managed device services partner can help bridge this resource gap. Managed device services partners empower community banks to take charge of mission-critical device management activities with: Logistics and installation services to support se
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