Tougher contracts and more transparency are two of the improvements that have come about since the banking-as-a-service middleware provider's bankruptcy, practitioners say.
Up-to-date operating systems, anti-phishing tools and good backup should keep banks and CUs safe from ransomware. Can your institution check off those boxes?
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A group of 19 state attorneys general have sued the Trump administration, alleging the Department of Government Efficiency's move is illegal. The injunction is pending a hearing Feb. 14.
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The buy now/pay later lender outperformed nearly every analyst estimate in its fiscal second-quarter earnings report. CEO Max Levchin said the company is five months out from positive GAAP operating income.
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More state legislatures are exploring how to regulate earned wage access products, and interest rate caps are central to that discussion. New York state's pending legislation is taking a novel approach.
The agency sought feedback on potential changes to the Equal Credit Opportunity Act. But a coalition of industry and advocacy groups want a longer comment period to afford “a greater opportunity for thoughtful public participation.”
Changes are needed to shore up the agency's finances and guarantee the integrity of its flagship 7(a) lending program, according to a leading trade group.
A group of more than 50 bipartisan financial experts, including former Fed Chairs Ben Bernanke and Janet Yellen, said that effectively eliminating the Office of Financial Research and weakening the Financial Stability Oversight Council would have devastating effects for the financial system.
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As the Federal Housing Finance Agency considers revising Federal Home Loan bank membership standards, it should consider the benefits of scale that large member banks make possible.
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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.
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If Capital One successfully buys Discover Financial Services, it would create an entity with an enormous amount of power. That could lead to abuses of vulnerable consumers.
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The Consumer Financial Protection Bureau ended a consent order earlier than expected against the credit bureau TransUnion, saying the company already paid a $5 million fine and $3 million to consumers.
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The banks want the pay-by-bank provider to use application programming interfaces to protect consumers, they say.
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Federal Reserve Vice Chair Philip Jefferson said that as interest rates have moved toward a more neutral level, "it makes sense" now to proceed with caution.
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The volume of home equity lines of credit expanded for the 14th consecutive quarter, driven largely by fintechs and other nonbanks that are accounting for more and more of the business.
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The payment and commerce company's stock fell as much as 12% in afterhours trading on Thursday after the fintech missed Wall Street's earnings estimates, despite posting growth in all lines of business and increasing its full year guidance.
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Federal Reserve Gov. Christopher Waller said there was a popular "misunderstanding" Thursday regarding who can qualify for a "skinny" master account, noting that only firms with a bank charter would qualify for approval.
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Tokenization initiatives are moving beyond proofs of concept toward institutional-scale deployment.
A federal court cannot modify a preliminary injunction to compel the acting director of the Consumer Financial Protection Bureau to request funding for the agency, the Department of Justice said.
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