Earned wage access fintechs say the Consumer Financial Protection Bureau's advisory opinion provides important clarity on the finance product, but legal experts warn that its practical impact could be minimal.
Several startups have announced new funding rounds in the last month. They plan to use the cash to improve their products and ramp up sales.
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Christopher Mufarrige is named acting director of the FTC's Bureau of Consumer Protection; TD Bank promotes Andrew Stewart, Nadir Johnes and Jo Jagadish; PayPal's John Kim is leaving the company; and more in this week's banking news roundup.
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Steve Squeri told analysts his firm is prepared to compete with small-business technology providers like Ramp and Brex. He also weighed in on the potential payments behemoth that would result from Capital One's purchase of Discover.
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The technology vendor is going outside the company to hire PNC vet Michael Lyons to replace Trump administration-bound Frank Bisignano, leaving the Pittsburgh-bank without its heir apparent for the top role.
Neural network systems — which try to emulate the human brain — will become increasingly important as the stolen identities from the recent Equifax breach and others start surfacing in the coming years on fraudulent payment card or loan applications.
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The CEO of J.P. Morgan Asset Management and American Banker’s Most Powerful Woman in Finance shares advice about dealing with tricky clients and colleagues.
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There's a growing consensus that helping young employees pay back student loan debt could be key to recruiting and retaining millennial talent at credit unions.
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Five Financial Reality Fairs will be held simultaneously across the state in order to help reduce recidivism through financial education.
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The Toronto parent of BMO Harris Bank has joined a growing list of banks directing billions of dollars toward affordable housing and loans to low- and moderate-income communities.
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The two companies first started collaborating last year, but now BBVA has white-labeled Prosper’s technology on its own website.
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Demand trends were mixed in the third quarter, with consumers showing more willingness than businesses to take on new debt, according to the Fed’s most recent survey on bank lending practices.
The biggest decline was a 9.9% drop in deposits quarter-on-quarter as of Dec. 31.
Backed by tech billionaires, the crypto-focused digital startup bank's timely application reflects the current administration's openness to new tech-driven banking models — and raises concerns about regulatory impartiality, considering its backers' political ties.
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The Consumer Financial Protection Bureau says it is in favor of consumer choice, but its shifting position on earned wage access calls that commitment into question.
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The growing buy now/pay later industry requires regulations, but existing regulations for credit card lenders are not fit to the purpose. BNPL needs bespoke guidelines to protect consumers.
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The proposed capital rule risks driving borrowers away from the traditional banking industry and into the arms of shadow banks, whose support during stressful times can be fleeting.
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The year was marked with six state regulations, new entrants, product and market expansion from existing EWA providers and buy-in from investors.
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The fintech IPO drought ended this year with several large public exits by firms such as Chime, Klarna and Circle.
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As stablecoins become an increasingly prominent feature of the financial landscape, Noelle Acheson gives us her top five trends to watch out for.
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It's not just Capital One Cafés; banks all over the country are repurposing branches and offices. Marketing experts call it innovative, but critics say some lenders are crossing a legal boundary between banking and commerce.
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Under a proposed rule, the agency would let most nationally chartered firms off the hook for heightened regulatory standards. The rule would raise the bar from $50 billion to $700 billion of assets and leave only eight firms subject to heightened regulation.
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Stories about data breaches, fraud and one neobank were reader favorites this year.
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Terron T. Brown used stolen mail and social media recruits to defraud banks such as PNC and Bank of America of millions, highlighting a rising industry threat.
Some consumers have been waiting a year and a half to get their money back.
The 23rd annual ranking of women leaders in the banking industry.
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