South State Correspondent

MAY 7, 2024

On April 26, 2024, Republic First Bank (DBA Republic Bank) was seized by state regulators and the long running bank drama came to an end. With the assistance of the FDIC, Fulton Financial acquired certain assets, debt and deposits of Republic Bank. This first bank failure in 2024 is reported to cost the Deposit Insurance Fund $667mm. A slew of articles have been published explaining the reason for this bank’s failure.

Risk Management 195

Risk Management Security Management Groups 195

Jeff For Banks

MAY 9, 2024

Are conferences more than a vacation? Last week I attended two back-to-back banking conferences and it was apparent that attendance was down. This is the likely reaction to banks' profit challenges resulting from net interest margin pressures that are due to slowly repricing loans accompanied by ever faster repricing deposits. Let's tighten our belts to offset revenue decline.

Conference 108

Conference Community Bank Community Tools 108

BankInovation

MAY 7, 2024

Chime Financial was fined $3.25 million by the Consumer Financial Protection Bureau today as the digital bank has failed to give timely consumer refunds. According to Chime’s refund policy, the company is required to issue consumer refunds within 14 days.

Policies 118

Policies Digital Banking Company Payments 118

Payments Dive

MAY 6, 2024

Requests for a slice of the Visa-Mastercard settlement are due by a May 31 deadline. Lawyers are racing to alert eligible businesses.

Cards 418

Cards Payments 418

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Groups

Jack Henry

MAY 6, 2024

In myyears at Jack Henry™, my lending team has helped hundreds of financial institutions across the United States achieve their strategic goals by focusing on the future of commercial lending.

Lending 88

Lending United States 88

BankInovation

MAY 6, 2024

Small businesses demand efficient access to capital and Grasshopper Bank is meeting the needs of its small business clients through its latest digital lending solutions.

Lending 121

Lending Strategy New York Meeting 121

Payments Dive

MAY 9, 2024

While the Federal Reserve won’t specify payments volume on the new instant system, executives from certified service providers Visa and Jack Henry said they’re seeing an increase.

System 417

System Payments 417

ATM Marketplace

MAY 7, 2024

Want your ATM to succeed? Consider adding these five essential features.

ATM 105

ATM 105

TheGuardian

MAY 7, 2024

I phoned the police and the bike was seized, but eBay and my bank won’t help over reimbursement I bought a used electric cargo bike on eBay for £3,300 but, when it arrived, I discovered a cut in the frame. I put the frame number into the national BikeRegister database , which confirmed it had been stolen. The seller did not reply when I contacted them, so I phoned the police and the bike was seized.

National 105

National Technology 105

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Analysis

American Banker

MAY 6, 2024

The $1.1 billion-asset Vibrant is working with the San Francisco-based distributed ledger development firm Metallicus through its Metal Blockchain Banking Innovation Program to examine use cases.

San Francisco 101

San Francisco blockchain Illinois Innovation 101

Payments Dive

MAY 10, 2024

The two agencies raised concerns that airlines and card companies could arbitrarily devalue points accrued in their joint rewards programs, amounting to a bait-and-switch for customers.

Cards 412

Cards Company 412

ATM Marketplace

MAY 10, 2024

Bradley Cooper, editor of ATM Marketplace discussed bank layoffs in light of CX with Mack Turner, a 30 year veteran of the financial services industry,

ATM 103

ATM Industry 103

Commercial Lending USA

MAY 6, 2024

Commercial Lending USA is an excellent place to get commercial loans because almost half of all small businesses need them to start up or grow.

Lending 98

Lending 98

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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.

Lending

American Banker

MAY 6, 2024

Big national retailers will capture all the financial benefits from proposed reductions in swipe fees, while consumers will be left with fewer benefits programs and less secure transactions.

Retail 96

Retail Cards National Security 96

Payments Dive

MAY 6, 2024

Finance leaders are in a unique position to reduce costs and increase revenue by evolving payment processes.

How To 397

How To Payments 397

The Paypers

MAY 9, 2024

Visa has launched Visa Account Attack Intelligence (VAAI) to combat card testing attacks, reducing fraud and operational losses in real-time for US issuers.

Fraud 93

Fraud US Cards Operations 93

TheGuardian

MAY 8, 2024

Disclosure of the identities of firms under investigation by FCA could be in the public interest The City’s lobbying battalion in full cry is something to behold. Witness the furious response from the banking and finance industry to a proposal from the Financial Conduct Authority (FCA) to name firms under investigations occasionally – specifically when it thinks the public interest would be served.

Industry 91

Industry Regulation 91

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Operations

American Banker

MAY 7, 2024

Federal Reserve Chair Jerome Powell said there have been "no decisions" on the controversial capital reform plan, but banks and others who have criticized the proposal are eager for an indication about what's next.

Regulation 95

Regulation Capital FDIC Policies 95

Payments Dive

MAY 10, 2024

The collaboration with a Chinese entity began Wednesday, with processing of cards issued by banks in the country following years of preparations.

Operations 293

Operations Cards 293

BankInovation

MAY 9, 2024

Financial institutions that think about efficiency and growth when considering tech spend can respond quickly to merger and acquisition opportunities, Danny Baker, vice president of market strategy at technology provider Fiserv, told Bank Automation News. “Successful banks, when they think about their technology investment, they don’t think about efficiency from a penny-pinching [perspective],” he said.

Marketing Strategies 87

Marketing Strategies Strategy Technology Marketing 87

William Mills

MAY 7, 2024

The PR industry is constantly evolving to keep up with new technologies, media platforms, and consumer preferences. As PR pros, staying ahead of the latest trends and practices is key to crafting successful campaigns. Here’s a look at six trends we’re tracking this year.

Trends 82

Trends Industry Technology Data 82

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Analysis

American Banker

MAY 7, 2024

The full House is scheduled to vote Wednesday on a Congressional Review Act resolution that would overturn a staff accounting bulletin from the Securities and Exchange Commission. Banks argue that the guidance would effectively cut them out of the crypto custody business.

Security 88

Security Policies cryptocurrency Compliance 88

Payments Dive

MAY 7, 2024

When it comes to bridging the FedNow and RTP networks, officials at the Federal Reserve and The Clearing House have slightly different priorities.

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259

BankBazaar

MAY 7, 2024

BankBazaar.com, India’s leading fintech co-branded Credit Card platform and online platform for free Credit Score, marks its third consecutive year of fast and sustainable growth, with an unaudited operating revenue of Rs.215 Crore in FY24. This growth trajectory is driven by the company’s new and existing strategic partnerships for co-branded Credit Cards with leading commercial banks.

Branding 78

Branding Cards Fintech Leadership 78

TheGuardian

MAY 7, 2024

Treasury committee says ‘debanking’ and use of personal guarantees for loans is putting small businesses at risk Unfair banking practices and “damaging” financial regulators are harming small businesses and putting innovation and growth at risk, parliament’s Treasury committee has warned. A report from the committee’s inquiry into access to finance for small and medium-sized enterprises (SMEs) said a lack of supportive policies were compounding problems for firms that had survived a “torrid” fiv

Policies 77

Policies Regulation Innovation Report 77

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