BankThink

Credit unions need to improve their processes to ensure the problems that have arisen with credit reporting during the coronavirus don't happen again.

To take on these other forms of contactless payment, the POS must offer the same functionality as stationary cash registers, including card payments, digital receipts, coupon redemption, mobile payment and CRM integration, says GK Software USA's Todd Barstow.

Michael Moeser, Senior Analyst at PaymentsSource, talks to Jess Turner, EVP of consumer and small business solutions at Mastercard, about how consumers are making payments when they're no longer on lockdown but not quite back to the way things used to be.

The central bank hopes its plan can lead to a unified standard among all bank regulators; the leak of 2,000 bank suspicious activity reports exposes the need for updated regulations.

If the processor does not understand the particular needs of high-risk businesses, merchants working with them could face sudden financial disaster if accounts are terminated without warning, says T1 Payments’ Donald Kasdon.

The OCC is trying to seize jurisdiction by arguing that current supervision is haphazard. But states are already working together to streamline regulation while continuing to enforce consumer protections and encourage innovation.

To find a balance between the requirements of the regulator and the tasks of promoting and growing the product, the marketer has to understand the intricacies of compliance and all of the in and outs, says Aximetria's Dmitry Ryzhkov.

BuzzFeed News published its “FinCEN Files,” alleging that large banks ignored reports of suspicious activities and helped launder trillions of dollars; low rates will depress earnings even as credit losses don’t look to be as bad as expected.

Netwalker attacks are known to target victims using phishing emails disguised as COVID-19 updates from their organization, taking advantage of the heightened fears and anxieties that come with the current pandemic, says Stealthbits Technologies' Dan Piazza.

The competition has leading-edge technology, but consumers may be looking for more than just bells and whistles when choosing where to do their banking.