South State Correspondent

OCTOBER 23, 2022

In the last 12 months, the Federal Reserve went from arguing that inflation was a transitory phenomenon to raising interest rates to fight runaway inflation by three percent in just six months. The result is not only higher rates but the most severe interest rate hiking cycle in the past 35 years – and it is not over yet. Banks must plan for the possibility of high inflation and rising interest rates, not just for the next few years but perhaps for the remainder of the decade.

Community Bank 221

Community Bank Community Meeting Lending 221

Accenture

OCTOBER 25, 2022

The world of banking is big—too big for one person to cover alone, especially with today’s digitally-fueled pace of change. In that spirit, I’m turning my blog over to my colleague Steven Smith for this post on the once-in-a-generation opportunity emerging in retail banking right now. Steve is a managing director at Accenture and our…. The post Why retail banking presents rare opportunities right now appeared first on Accenture Banking Blog.

Retail 222

Retail Management Customer Experience Innovation 222

ATM Marketplace

OCTOBER 25, 2022

Although some consumers have embraced digital cards in light of COVID-19, others remain concerned about security breaches. In light of all of this, we must ask the question: What's the current state of digital cards and where are they headed?

Cards 106

Cards Security 106

Payments Dive

OCTOBER 25, 2022

Thousands of payments and fintech professionals at the Money 20/20 conference in Las Vegas this week are racing ahead with high-growth businesses, even as a drop-off in capital threatens to ruin the celebration.

Las Vegas 338

Las Vegas Fintech Conference Capital 338

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Perficient

OCTOBER 27, 2022

Seeking additional arrows in their quiver against large bank failures, on October 14, 2022, the Federal Reserve Board (FRB) and Federal Deposit Insurance Corporation (FDIC) published an Advance Notice of Proposed Rulemaking (ANPR). The ANPR is intended to solicit public input regarding whether an extra layer of loss-absorbing capacity could improve optionality in resolving a large banking organization or its insured depository institution, as well as garner feedback on whether the public deems t

Capital 275

Capital Regulation FDIC Regional 275

Abrigo

OCTOBER 28, 2022

Managing loan workouts and modifications Tips for preparing your bank or credit union to handle an increased volume of problem loans while ensuring prudent credit risk management. You might also like this video, "A look at credit risk in a rising-rate environment." WATCH. Takeaway 1 Signs point to increased loan modifications and loan workouts, and regulators have urged financial institutions to work prudently with borrowers. .

Management 195

Management Risk Management Policies Lending 195

Payments Dive

OCTOBER 28, 2022

The well-funded startup is taking on big clients and big rivals in seeking to offer cross-border payroll and payment services, with checks sent to workers in 72 hours.

Payments 273

Payments 273

Perficient

OCTOBER 26, 2022

Inflation reached a forty-one-year high in June , and according to the Consumer Price Index, prices have remained elevated. Many are struggling to make their dollars stretch and are looking to their financial institutions for guidance on how to better manage spending and stay afloat financially. Financial firms cannot singlehandedly control inflation, of course, but they can position themselves as knowledgeable partners that customers can depend on to be in their corner.

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Data Tools Cards Training 275

South State Correspondent

OCTOBER 26, 2022

Help us, help you. It is budget and strategic planning season, and many banks have asked for this data in order to help calibrate their bank. We are asking about your expected budgets, views on the economy, prospects for growth, and the most significant challenges. We are looking for your thoughts on the future of banking. The below survey sets out to answer these questions and more… with your help!

Survey 195

Survey US Analysis Data 195

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Analysis

CFPB Monitor

OCTOBER 27, 2022

Two recently-passed bills in California, Assembly Bill 2311 (“AB 2311”) and Senate Bill 1311 (”SB 1311”), were signed into law by Governor Gavin Newsom on September 13 and September 27, respectively, placing new restrictions on the sale of Guaranteed Asset Protection (“GAP”) waivers in California. The new laws limit the price of GAP waivers, add new disclosure requirements, ban GAP waiver sales in certain instances, and prohibit financing of GAP insurance in auto loans to servicemembers.

California 148

California Security Regulation United States 148

Payments Dive

OCTOBER 28, 2022

The company also credited cross-border travel, digital-first deals with banks and co-branding alliances for its performance during the quarter.

Branding 273

Branding Company 273

BankUnderground

OCTOBER 27, 2022

Galina Potjagailo, Boromeus Wanengkirtyo and Jenny Lam. CPI inflation in the UK has markedly increased over the last year, reaching 10.1% in September. The aggregate increase reflects potentially different dynamics across disaggregated prices, from which CPI inflation is constructed. How much of the increase has been broad-based across a wide range of prices?

Policies 115

Policies US Maine Analytics 115

ATM Marketplace

OCTOBER 28, 2022

Louisville, Kentucky rock festival Louder than Life encouraged attendees to go cashless, but unfortunately the strategy hit several snags.

Louisville 112

Louisville Kentucky Strategy Payments 112

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Lending

CFPB Monitor

OCTOBER 27, 2022

The CFPB has told two courts, an Illinois federal district court and the Ninth Circuit, that the Fifth Circuit panel decision holding that the Bureau’s funding mechanism is unconstitutional is “neither controlling nor correct” and “mistaken.” . The CFPB addressed the panel’s decision in Community Financial Services Association v. CFPB in its response to the Notice of Supplemental Authority filed by TransUnion in the CFPB’s enforcement action against TransUnion in the Illinois court and in a lett

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Illinois FDIC California System 146

Payments Dive

OCTOBER 27, 2022

Shoppers aim to stretch their budgets by trying installment payment plans and seeking discounts from retailers, according to a new report.

Report 243

Report Payments Retail 243

BankInovation

OCTOBER 28, 2022

Global economic instability has made rough waters, and balancing the books nowadays is a tough job, to say the least. Conventional advice on how organizations should behave in a tumultuous economic environment has been to do everything possible to cut costs across departments and ride out the storm. However, paying little attention to furthering investments […].

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TheGuardian

OCTOBER 26, 2022

Bank had been forecast to report slight fall in earnings but key revenues increased by almost 60% A rise in borrowing costs for mortgage and loan customers, as well as the recent market meltdown, has helped Barclays increase key revenues and push its latest quarterly profits higher to £2bn. The UK bank, which had been expected to reveal a slight dip in earnings, said pre-tax profits instead rose 6% in the three months to the end of September.

Taxes 98

Taxes Marketing Report 98

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Operations

American Banker

OCTOBER 24, 2022

Fintech 94

Fintech Cards 94

Payments Dive

OCTOBER 26, 2022

The war in Ukraine raised the stakes for payment fraud detection, as bad actors devise more complex ways of evading oversight.

Fraud 243

Fraud Payments 243

BankInovation

OCTOBER 25, 2022

LAS VEGAS — Wells Fargo will launch a new artificial intelligence (AI)-based virtual assistant that will be powered by Google Cloud. The AI assistant, Fargo, will allow customers of $1.9 trillion Wells Fargo 24/7 access to their accounts with the ability to activate and deactivate debit cards, search for transactions, monitor FICO scores and review […].

Las Vegas 98

Las Vegas Google Cards 98

TheGuardian

OCTOBER 27, 2022

Larger-than-expected drop in profits to £1.5bn in third quarter comes despite rising interest rates Profits at Lloyds Banking Group tumbled 26% in the three months to September as the UK’s largest mortgage lender steeled itself for a potential surge in defaults as it predicted house prices would fall 8% next year. The drop in profits was much larger than the 9.5% analysts had expected, and was the result of having to put aside an extra £668m amid fears that some loan and mortgage customers could

Groups 97

Groups Policies 97

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Analysis

FICO

OCTOBER 24, 2022

Home. Blog. FICO. Fannie Mae and Freddie Mac Will Require the Use of FICO Score 10 T. FICO?Score 10 T gives mortgage lenders the flexibility and predictive power to make more precise lending decisions. FICO Admin. Tue, 11/12/2019 - 19:52. by James Wehmann. expand_less Back To Top. Mon, 10/24/2022 - 21:05. The Federal Housing Finance Agency (FHFA) has announced that FICO® Score 10 T has been validated and approved for use by Fannie Mae and Freddie Mac (the Enterprises).

Lending 93

Lending Trends Data Analytics 93

Payments Dive

OCTOBER 27, 2022

After selling off three business units and taking other actions to “tighten spending” in the third quarter, Fiserv CFO Bob Hau expects cost improvement for the fourth quarter.

Milwaukee 221

Milwaukee 221

American Banker

OCTOBER 28, 2022

Policies 91

Policies Industry Fintech Payments 91

TheGuardian

OCTOBER 24, 2022

Data indicates there are only 137 such products now available compared with 353 in December last year The number of low-deposit 95% mortgages on sale has fallen by more than half since last month’s scrapped mini-budget, stoking fears that financial uncertainty could lead some banks to scrap the deals that are often the only way first-time buyers with small deposits can own a home.

Data 94

Data Marketing 94

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Capital