Samsung Pay has gone live in Canada – but only for a subset of customers using certain Visa cards from CIBC Bank.
A Samsung customer service representative
“These [Samsung Pay] services will be made available from the first week of November, 2016 in Canada. And, initially the service will be launched with CIBC Visa cards,” the company said in its reply.
Galaxy phone owners
Samsung did not provide comment by deadline.
The Office of Management and Budget issued reduction in force notices to Treasury staff working in the Community Development Financial Institution office Friday, saying that the layoffs are necessary to "implement the abolishment" of the fund.
Former City National CEO Kelly Coffey has a new venture in wealth management; Erin Siegfried is Northwest Bancshares' new chief legal counsel and corporate secretary; Flagstar Bank secures OCC approval to merge its holding company into the bank; and more in this week's banking news roundup.
The regional bank has launched a digital student banking center that's part of a broader strategy to focus on relationship-building.
The Consumer Financial Protection Bureau has announced job openings for attorney-advisors to represent the agency in defensive and appellate litigation.
An updated deposit insurance reform bill from Sens. Bill Hagerty, R-Tenn., and Angela Alsobrooks, D-Md., would raise deposit insurance for business accounts to $10 million, exclude the largest banks from coverage and insulate community banks from footing the bill.
Younger borrowers are increasingly moving money away from financial institutions, but banks could recapture Gen Z capital by helping them build credit.
