TD Bank sues Plaid for trademark infringement, false advertising
In a lawsuit filed Wednesday, the U.S. subsidiary of Toronto-Dominion Bank accused the data aggregator Plaid of improperly using the bank's name, trademarks and logos when it gathers TD customers' data.
Mobile and online banking technologies that the Toronto bank previously rolled out, including a virtual assistant developed by Kasisto and money management tools made by Moven, have become much more popular since the arrival of COVID-19.
SBA streamlines forgiveness for PPP loans of $50,000 or less
Lenders welcomed the move as a helpful first step but are still urging policymakers to develop a broader, simpler process for expediting the approvals of loans extended to troubled small businesses under the Paycheck Protection Program.
BofA adapting consumer tech for use with corporate clients
Bank of America is applying a familiar arsenal — including APIs and its popular virtual assistant, Erica — to online business banking, cross-border payments and cash management in an effort to modernize those services.
Lenders pushed back against the notion that city dwellers' pandemic-driven flight to suburbia would hurt them. They say fewer landlords have sought deferrals as vacancy rates remain low and rent collections have stabilized.
The lawsuit filed on behalf of the National Association for Latino Community Asset Builders says the rule was based on “an invented evidentiary standard,” and failed to consider consumer protections mandated by Dodd-Frank.