The United Kingdom’s foray into biometric ID cards was initially positioned as a counter terrorism maneuver, but there may be more to the cards than meets the eye.
The UK government told the BBC it’s discussing adding chip and PIN technology to the new cards to combat identity fraud. James Hall, the government’s identity and passport service chief, told the television network that adding payments technology to the ID cards would not be difficult, and would allow car users to “assert their identities” online.
Hall also said the government is in talks with financial services firms, and if a “compelling” reason can be found, chip and PINs will be taken “extremely seriously.”
The British government in November started distributing biometric ID cards—which contain fingerprints, name, data of birth, nationality and the person’s “right to be in the UK”—to people from outside the European Economic Area. Distribution will be expanded on a voluntary basis to “young” people in 2010 and to the entire UK population in starting in 2012.
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Governor Gavin Newsom announced the swearing in of Rohit Chopra as secretary of the California Business and Consumer Services Agency, Amalgamated Bank of Chicago promoted Cherie Duve to executive vice president and chief legal officer, Ramon M. Rodriguez joins USCB Financial Holdings and U.S. Century Bank as an independent director, and more in this week's banking news roundup.
July 3 -
The Open Standard consortium understands what makes a stablecoin valuable isn't how digital it is, but how ubiquitous it is
July 3 -
Low daily, weekly and monthly Zelle limits can cause users to switch to other payment networks, raising the ante for banks to find solutions.
July 3 -
A tour of the technology that banking has run on, dating back to Franklin's anti-counterfeit measures and the bank-note bulletin that preceded American Banker.
July 3 -
Sen. Elizabeth Warren, D-Mass., is asking President Trump's son Eric if he plans to refile a lawsuit against Capital One Financial for allegedly "debanking" hundreds of Trump Organization accounts. The letter follows President Trump's nomination of a Capital One executive to lead the Consumer Financial Protection Bureau.
July 2 -
The fintech sponsor bank plans to offer digital asset services.
July 2










