The Latest

The Consumer Financial Protection Bureau issued a proposal Thursday that asks the public to weigh in on consumer access to financial information, part of a fight between banks and fintech companies about the sharing and control of consumer records.

The information you need to start your day, including top headlines from PaymentsSource and around the Web. Today: Experts search for a cause for the Tesco breach; classical musicians play at an ATM; the European Commission wants to help banks repond to tech; Nordic countries shed cash.

The Consumer Financial Protection Bureau issued a proposal Thursday that asks the public to weigh in on consumer access to financial information, part of a fight between financial institutions and fintech companies about the sharing and control of consumer records.

Many assume that a smart contract is something totally new. However, banking has used imperfect implementations of smart contracts for at least three decades.

Receiving Wide Coverage ...Targets: House Republicans are looking to scrap rules on how brokers sell retirement investments, as well as interest rate limits and disclosures on payday lenders, once President-elect Donald Trump takes office. The push is being led by House Financial Services Committee Chairman Jeb Hensarling, R-Texas, who is under consideration to become Treasury secretary. He asserts the rules were written by bureaucrats, not Congress. He also called for stripping the Financial Stability Oversight Council of its authority to designate nonbank financial institutions as "systemically important." Wall Street Journal, New York Times, American Banker

LendingTree has agreed to pay up to $130 million to acquire the credit card shopping site CompareCards.

The Consumer Financial Protection Bureau issued a proposal Thursday that asks the public to weigh in on consumer access to financial information, part of a fight between banks and fintech companies about the sharing and control of consumer records.

Prepaid cards are never far from politics and controversy, though the industry's distance from government scrutiny will likely increase in January when Donald Trump assumes the presidency and a new Congress is sworn in.

In this environment, the millennials who have largely chosen credit card alternatives such as P-to-P apps and social payment tools will have an easier time getting credit cards, potentially giving banks an added tool to compete with apps like Venmo.

By collaborating with consumers' favorite products or retailers, loyalty programs can get an extra punch.