SALT LAKE CITY - (07/03/06) Beehive CU said it has signedwith Comodo to provide it with a mutual authentication solution forincreased verification and online security. A mutual authenticationsystem is one which allows a consumer to verify the credit union orbank as authentic and the credit union or bank can authenticate theuser. Comodos patent-pending See Verify Trusttechnology incorporates digital certificates to authenticate auser. The enable verification, consumers use Comodos freedigital reader, called VerificationEngine. Beehive CU is alsoemploying Comodos email certificates to ensure that when amember reads an email from the credit union, the member can be surethat the sender is not a fraudster. Email certificates will also beused to encrypt sensitive communication within the credit union.Comodo is based in Jersey City, N.J.
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U.S. customers who have previously used Sweden-based Klarna's buy now/pay later financing — and paid off their loans in full — will be pre-qualified for interest-bearing loans through a new version of the Klarna Visa card rolling out later this year.
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Rep. Frank Lucas, R-Okla., told American Banker that he sees a concrete path to chair the House Financial Services Committee that relies on his long experience in committee leadership and long political career.
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Banking Circle US is the first company to use Connecticut's uninsured bank charter for wholesale and merchant activities. This kind of charter makes sense for payments firms, but questions persist about overall viability.
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The plan that the Federal Housing Finance Agency floated calls for Freddie Mac to actively invest in some new closed-end seconds as cash-out refinancing subsides.
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Ant Group's Alipay is linking to Pakistan's NayaPay as part of a push to support tourism to China, Revolut has obtained a license from Mexico's National Banking and Securities Commission, and more.
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Net charge-offs at the Charlotte, North Carolina-based bank increased by more than 80% in the first quarter compared with a year earlier. BofA executives say that the rising losses were in line with the bank's risk appetite.
April 16