Samsung is trying a number of plays to extend the reach of
The scaled-down app will not support contactless retail payments, which Samsung typically handles on its own devices through NFC or a process of simulating a magnetic stripe signal.
Expected to be formally launched in the first quarter in South Korea,
Like most third-party mobile payment apps, Samsung Pay faces
Scattered Spider, a cybercrime gang whose targets include banks, has seen five of its members arrested for SIM-swapping and phishing schemes that stole millions.
The Consumer Financial Protection Bureau has fined Synapse $1 for its role in a $60 million to $90 million shortfall in fintech users' accounts.
A federal appeals court granted the government's request to pause a ruling that briefly restored Democratic National Credit Union Administration board members Todd Harper and Tanya Otsuka, leaving the regulator with a single board member pending appeal.
Erik Porter will succeed Lisa Oliver as president and CEO of the Cooperative Bank of Cape Cod; Gary Hall and Sobani Warner are named co-presidents of Siebert Williams Shank; Faiz Ahmad and Mike Joo will lead Bank of America's global investment banking unit; and more in this week's banking news roundup.
Bank of Glen Burnie, which is seeking to recover from a stretch when its assets declined, hopes that its deal for a residential lender can help boost loan production.
Small practices are still mired in paper. Fiserv has joined banks such as JPMorganChase and Citizens in applying new third party transaction technology to the tricky sector.
